Ho Chi Minh City (Saigon) is the largest city in Vietnam. The economy of Ho Chi Minh City covers different fields, from mining, seafood processing, agriculture, construction to tourism, finance, industry, trading. It is regarded as the economic centre in Vietnam as it accounts for a high proportion of Vietnam's economy. 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 Ho Chi Minh City is 7.4 Mil (2014 est.), while the inflation rate is 4.94% (2014 est.).
Cost Of Living
The cost of living for expatriates in Ho Chi Minh City as at 1 July 2014 is very low in comparison to other places in the world. In Ho Chi Minh City, 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: Low 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: Very Low 10) Personal Care: Average 11) Recreation & Culture: Very Low 12) Restaurants Meals Out and Hotels: Very Low 13) Transport: Very Low Ho Chi Minh City is for example -11.1% cheaper than Montevideo for groceries, 12.4% more expensive for household costs than Durban, and -25% cheaper for transport costs than Athens. Ho Chi Minh City 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 Ho Chi Minh City for an expat from Zurich is for example 20%, i.e. host location (Ho Chi Minh City) 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 Ho Chi Minh City? Register subscribe to your home location and Ho Chi Minh City and run your personalised reports.