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. The climate is tropical in the south and monsoonal in the north with a hot, rainy season (May to September) and a warm, dry season (October to March). 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 currency of Vietnam is the Vietnamese Dong (VND). US dollars are also accepted. Credit cards are increasingly accepted. ATMs are widely available in major cities and tourist areas. Medical facilities are generally adequate within cities for routine treatment. Serious or complex medical treatment may require evacuation which can be expensive. Cases of dengue fever and bird flu reported. The population of Hanoi is 16.1 Million (Metro) (2018 est.), while the inflation rate (CPI) is 2.75% for Vietnam as at April 2018. For a single Expat, the personal income tax rate in Vietnam is progressive up to 35%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Hanoi, 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): Hanoi as at 1 April 2018 is very low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Average 2) Clothing: High 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: High 10) Personal Care: Very High 11) Recreation & Culture: Low 12) Restaurants Meals Out and Hotels: Very Low 13) Transport: Very Low Hanoi is for example 3.7% more expensive than Houston TX for groceries, 34% more expensive for household costs than Kuala Lumpur, and -39.2% cheaper for transport costs than Dubai. The hardship premium for Hanoi for an expat from Perth, is for example 20%, i.e. host location (Hanoi) premium of 30% minus home (Perth) location premium of 10%. Hanoi is ranked as a high degree of hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Hanoi? Register subscribe to your home location and Hanoi and run your personalised reports.