Vietnam world’s most-affordable country for expats; India ranks 6 in Top 10 list
Key parameters including affordable housing, working conditions, ease of settling in were considered while drawing up the rank list
The Expat Insider Survey for 2024 has found that South Asian countries turned out to be most affordable for immigrants with Vietnam topping the Top 10 list and India securing the sixth place.
The survey
The survey conducted by the InterNations took inputs from over 12,000 expats living in 174 countries. Fifty-three countries figured in the final ranking list.
Key indicators based on which the rankings were done included quality of life; expat essentials including housing and language; working abroad conditions like career prospects, salary, job security, work culture and satisfaction; ease of settling in (friendliness of locals, finding friends, culture and welcome they received); personal finance and general happiness.
As part of the survey, participants were asked to rank their personal satisfaction levels in three areas – cost of living, satisfaction with financial situation and whether the disposable household income was enough for a comfortable life.
Personal finance
When it came to finances, Asian countries were found to be most-sought after places for expats with as many as six of them dominating the list.
Vietnam grabbed top spot for the fourth consecutive year and was followed by Colombia, Indonesia, Panama and Philippines. While India was ranked sixth, it was followed by Mexico, Thailand, Brazil and China.
Interestingly, it is the first time that Brazil figured in the Top 10 list in terms of affordability, securing a place at the ninth position. This pushed Malaysia from the fifth position in 2023 to the 11th spot this year, showing the shift in expat perception on the country they find economically viable.
The survey found that for most of the expats in Vietnam, work-life balance was more important than career advancement opportunities. Vietnam’s stress-free environment is conducive to such needs. The study found that less than half of the country’s immigrant population (46 per cent) was engaged in full-time work, which is lower than the global average of 57 per cent.
As far as affordable housing is concerned, expats preferred Thailand as the top destination, followed by Vietnam, Philippines and Indonesia.
Panama best country for immigrants
The study found Panama to be the best destination for expats in 2024 while taking all the parameters into account. While the country moved to the top spot from the third place in 2023, it was found that over five expats (82 per cent) were content with their life there versus 86 per cent globally.
Mexico came second in the list followed by Indonesia, Spain, Colombia, Thailand, Brazil, Vietnam, Philippines and UAE.
In the list of 53 countries, Kuwait was the worst place for immigrants to live, followed by Turkiye, Finland, Germany and Canada.