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Vietnam is the most affordable country among 54 countries surveyed
Asian and South American countries were among the top 10 in the 2024 InterNations study on 'The Best (& Worst) Countries' for expats in terms of affordability.
In its personal finance index for expats, the research site noted that Vietnam topped the list for the third time in a row, followed by Colombia, Indonesia, Panama, and the Phillippines. India also made the top 10 in sixth place, followed by Mexico, Thailand, Brazil, and China.
The index considered the general cost of living, expats' satisfaction with their financial situation, and whether a respondent’s disposable household income is enough to lead a comfortable life. The survey included 53 countries, each with at least 50 respondents.
Top 10 affordable countries
Vietnam
Indonesia
Panama
Philippines
India
Mexico
Thailand
Brazil
China
Vietnam defends its spot for the third consecutive time: 86 percent of expats in the country rated the cost of living positively, 65 percent are satisfied with their financial situation in Vietnam and 68 percent rated their disposable household income as more than comfortable enough.
Colombia climbs ranks to second spot: Colombia improved its position in the ranking from No. 7 in 2023 to No.2 this year. Over 85 percent rated the cost of living positively, 91 percent agreed that disposable household incomes are enough to live comfortably, and only 11 percent are dissatisfied with their salaries.
Indonesia offers more for less: It ranked second after Panama in terms of financial satisfaction, with 72 percent reporting happiness, 69 percent rated cost of living positively in India.
Canada's cost of living highest
Canada took the last position at No. 53, with expats reporting inflation hurting food prices, rent, and mortgages. Around 66 percent rated expenses negatively.
The next worst was Finland at No. 52 — it was notably the biggest loser, tanking from No.30 in 2023 to near the bottom this year.
Breaking the trend in Asia, Singapore made it to the bottom at N0.48 and 75 percent of the expats surveyed rated the cost of living negatively.
Most unaffordable for expats
Kuwait
Türkiye
Bahrain
New Zealand
Singapore
Norway
Ireland
United Kingdom
Finland
Canada
6 out of 10 are Asian countries
- Only one of the top 10 was a new name. Brazil edged out Malaysia, which still made it to No. 11.
- Six of the top 10 countries are Asian and performed "very well" across all factors of consideration: Vietnam (1st), Indonesia (3rd), the Philippines (5th), India (6th), Thailand (8th), and China (10th).
- Four of the top 10 countries are in Latin America: Colombia (2nd) is joined by Panama (4th), Mexico (7th), and Brazil (9th). Expats are reportedly "very satisfied" across parameters.
- South Korea made the biggest improvement in the overall list, jumping to Np.15 from No. 23 last year.
- Denmark climbed from No. 47 last year to No. 32 in 2024, and Hong Kong went from No. 43 to No. 28.
- Bahrain, meanwhile, tanked to No. 43 in 2024 from No. 27 last year
- By arrangement with livemint.com
