According to the HSBC survey, two-thirds (67 per cent) of expats say they feel confident about the Vietnamese economy. (Photo: baohaiquan.vn)Hanoi (VNA)- Expats working in Vietnam said they earn on average nearly 88,100 USD, with36 percent seeing their income increase by 25 percent, the latest ExpatExplorer survey compiled by HSBC Bank revealed.
According to the HSBCsurvey, nearly three quarters (72 percent) of expats in Vietnam say moving tothe country helped them save more and just over two thirds (67 percent) agreedthat they have a higher disposable income than they did in their home country.
The most popular reasonfor saving or investment is still retirement (37 percent), followed by buyingthe first/next property (29 percent).
Nevertheless, when itcomes to property ownership, only under one-fifth (18 percent) of expats ownproperty in Vietnam, which is half of the global average. Forty-two percent of expatsdon’t own any property either in their home country or host country.
Nearly half (48 percent)of the expats in Vietnam say they take more holidays, besides enjoying thecomforts of domestic help such as cleaner and nanny (46 percent) and living ina better property (45 percent).
Expats move to Vietnamfor various reasons, with the top three being finding a new challenge (46 percent),improving quality of life (28 percent) and being sent by an employer (23 percent).With these aspirations in mind, almost half (47 percent) agree that Vietnam isa good place for expats who want to progress in their career, lower than theglobal average (54 percent).
Expat employment alsocomes with its perks. A vast majority (79 percent) of expats in the countryreceive benefits as part of their employment contract, with 49 percentreceiving health and medical allowances, 42 percent accommodation allowance and42 percent an annual trip home or airfare allowance, compared with the globalaverage of 44 percent, 20 percent and 19 percent, respectively.
Two-thirds (67 percent)of expats say they feel confident about the Vietnamese economy. But the issuesthat concern them the most in connection with their financial wellbeing are therestrictions on moving their money across countries (43 percent), lessfavourable exchange rate and economic uncertainty globally (both 34 percent).
The country also receivesless favourable feedback when it comes to Experience and Family. Only 28 percentof expats in Vietnam agree that they enjoy a better overall quality of life,including everything from health to culture, compared with the view of morethan half (52 percent) of expats worldwide about their host country.
Sabbir Ahmed, head ofRetail Banking and Wealth Management, HSBC Vietnam, said Vietnam remains afascinating economy for expats from around the world to challenge themselvesand boost their careers.
“However, the surveysuggests several areas for improvement to make Vietnam more attractive toexpats,” he added.
“It is clear that expatsexpect better experiences early on in organising their finances and healthcare,as well as an advantageous environment to bring up their children. This poseschallenges for financial, medical and educational institutions, while at thesame time also providing opportunities to grow their business by better servingthis segment,” he said.-VN
VNA
