Hanoi is the capital and second-largest city of Vietnam. Industrial production in the city has experienced a rapid boom since the 1990s in addition tourism, finance, and banking now play an increasingly important role. Vietnam is in South Eastern Asia, bordering the Gulf of Thailand, Gulf of Tonkin, and South China Sea, alongside China, Laos, and Cambodia. Tropical in south; monsoonal in north with hot, rainy season (May to September) and warm, dry season (October to March). Low, flat delta in south and north; central highlands; hilly, mountainous in far north and northwest. The official language is Vietnamese. French and Chinese are also spoken. Young people are more likely to be able to speak English and proficiency is generally better in southern Vietnam than in the north. The main religion is Buddhism. The economy of Vietnam is a developing mixed economy. Over the past 20 years, Vietnam has made a shift from a centrally planned economy to a Socialist-oriented market economy. The economy has experienced rapid growth. Vietnam is in transition from a planned economy to a market-oriented mixed economy. The population in Hanoi is 6.5 Mil (2014 est.), while the inflation rate is 4.94% (2014 est.).
Cost Of Living
The cost of living for expatriates in Hanoi as at 1 October 2014 is low in comparison to other places in the world. In Hanoi, the cost of each basket, based on local prices, compared to the international average in USD, is categorized follows: 1) Alcohol (where available) & Tobacco: Average 2) Clothing: Average 3) Communication: Very Low 4) Education: Very Low 5) Furniture & Appliances: Very Low 6) Groceries: Low 7) Healthcare: Low 8) Household Accommodation: High 9) Miscellaneous: Low 10) Personal Care: Average 11) Recreation & Culture: Low 12) Restaurants Meals Out and Hotels: Very Low 13) Transport: Very Low Hanoi is for example -9.3% cheaper than Montevideo for groceries, 11.4% more expensive for household costs than Durban, and -32.3% cheaper for transport costs than Athens. Hanoi is ranked as a high degree of hardship location. Hardship (also know as quality of living) refers to the degree of hardship an expatriate and their family are likely to experience in the host location. Hardship pay is compensation to encourage people to move, in particular to less desirable locations. In determining the amount of hardship premium payable, factors such as economic, political, religious, infrastructure, environment/climate, personal safety, health, education, and transportation factors are considered. The hardship premium for Hanoi for an expat from Zurich is for example 20%, i.e. host location (Hanoi) premium of 30% minus home (Zurich) location premium of 10%. Xpatulator.com has been created to assist subscribers calculate expatriate pay using the online calculators and extensive database of cost of living and hardship indexes, for 780 international locations. Want to know more about cost of living, hardship or expat pay in Hanoi? Register subscribe to your home location and Hanoi and run your personalised reports.