Vietnam scores high for expats in Asean states survey

Published:  27 Sep at 6 PM
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Tagged: Thailand, Euro
It’s not just foreign investment that’s changing the game for expats in Vietnam, it’s career progression, lifestyle and the country’s overall charm.

The recent 2016 Expat Explorer survey placed Vietnam as the second-best ASEAN country for expats after long-term winner Singapore. In addition, last year’s 25th place globally became this year’s number 19, a considerable jump reflecting the country’s overall improvement.

Over a third of expat respondents based in Vietnam said the fast-developing country was good for the progress of their careers and more than satisfactory as regards their quality of life. The same number noted their salaries were higher than in their home country, with the ballpark figure of around $103,000 ahead of the global figure and only 25 per cent less than Singapore’s average. Surprisingly, 14 per cent of respondents admitted to earning over $ 200,000 a year, citing the dynamism of the economy as a main reason.

HSBC Vietnam’s CEO of retail banking Sabbir Ahmed told reporters the country should also up its focus on educational programmes, environmental issues and financial services. This, he added, will further enhance expats’ and families’ experiences of the country.
Foreign investment in Vietnam is booming, offering more choice to expats looking for a unique new experience. Its government is developing reform schemes intended to accelerate the country’s growth towards an economy based on markets.

Ahmed is hoping the country’s development will attract more talented foreigners welcoming the challenge provided by governmental efforts to upgrade still further. Other ASEAN countries surveyed, in order of their placings, were Indonesia, Malaysia, the Philippines at second through fourth positions, with formerly popular Thailand taking the lowest spot in the ASEAN group and 24th in the world rankings of 45 countries. Problems with job security, politics, entrepreneurship, career progression and economic confidence all affected its ranking, with only work/life balance, savings and disposable income rated as fair to good.
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