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. Expatriate business dress is generally smart casual. Suits are only worn for formal official meetings. The security risk for expatriates in Vietnam is low. Risks include theft, particularly in tourist areas, bars and crowded locations, and surveillance by security personnel. The population in Ho Chi Minh City is 7.981 Mil (2015 est.), while the inflation rate is 0.34% (2015 est.).
Cost Of Living
The cost of living for expatriates in In Ho Chi Minh City, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Ho Chi Minh City as at 1 January 2016 is very low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Low 2) Clothing: Average 3) Communication: Very Low 4) Education: Very Low 5) Furniture & Appliances: Very Low 6) Groceries: Low 7) Healthcare: Average 8) Household Accommodation: High 9) Miscellaneous: Average 10) Personal Care: Very High 11) Recreation & Culture: Very Low 12) Restaurants Meals Out and Hotels: Very Low 13) Transport: Very Low Ho Chi Minh City is for example -40.7% cheaper than Nagoya for groceries, -40.3% cheaper for household costs than Tokyo, and -64.9% cheaper for transport costs than Yokohama. The hardship premium for Ho Chi Minh City for an expat from Ireland, is for example 20%, i.e. host location (Ho Chi Minh City) premium of 30% minus home (Ireland) location premium of 10%. Ho Chi Minh City is ranked as a high degree of hardship location. 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.