Vietnam named most affordable country in the world for foreigners
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Nearly one in five said they have far more money at their disposal than their lifestyles require.
The Expat Insider 2017 survey released on Thursday has put Vietnam in the spotlight as the cheapest place to live for expats.
The country has jumped five places from the previous year to top the 2017 table, confirming how affordable it is for foreigners to live and work here.
The survey was developed by asking 12,519 respondents, representing 166 nationalities and living in 188 countries around the world, how they felt about their financial situation, and whether their disposable income was sufficient to cover their expenses.
The cost of living in each country was compiled from the global cost of living database Numbeo. All amounts are in U.S. dollars and current as of September 2017.
Mexico and Colombia round off the top three most affordable locations, while expats living in Switzerland and Israel find it the hardest to get by on the money they make
Questions & Answers
Q.What methodology was used to determine Vietnam's ranking as the most affordable country?
What methodology was used to determine Vietnam's ranking as the most affordable country?
The ranking was based on the Expat Insider 2017 survey, which asked 12,519 respondents about their financial situation. The cost of living data for each country was compiled from the global database Numbeo.
Q.How significant is Vietnam's rise in the affordability rankings compared to the previous year?
How significant is Vietnam's rise in the affordability rankings compared to the previous year?
Vietnam has jumped five places from its previous year's position to reach the top of the 2017 table. This confirms its status as a very affordable country for foreigners to live and work in.
Q.Which other countries are noted for their affordability, and which are considered the least affordable?
Which other countries are noted for their affordability, and which are considered the least affordable?
Mexico and Colombia complete the top three most affordable locations in the survey. In contrast, expats living in Switzerland and Israel reportedly find it hardest to manage on their income.