From 2015 to now, Hanoi has always kept the number 1 highest cost of living. Followed by Quang Ninh, Ho Chi Minh City, Da Nang, Hai Phong. Other localities such as Bac Kan and Khanh Hoa are increasingly expensive.
The spatial cost-of-living index recorded by the General Statistics Office in the Statistical Yearbook 2021, just released on August 1, has listed many localities with the most expensive and cheapest living standards.
With a “100 point scale”, Hanoi is recognized as the place with the most expensive living standards. From 2015 to now, Hanoi has always kept the number 1 highest cost of living in the country.
Quang Ninh ranks second with a cost-of-living index of 99.5% compared to Hanoi, up 4 places compared to 2020. From 2015 to now, the cost of living in Quang Ninh has been increasing and increasing day by day.
According to the General Statistics Office, Quang Ninh has the second most expensive position in the country due to being a modern industrial and service province, one of the dynamic and comprehensive development centers, tourist centers, the marine economic center, the gateway to the key economic region of the North and the whole country.
Over the past years, Quang Ninh has made great progress in all economic sectors, and the people’s material and spiritual life has been improved. Quang Ninh’s economy has developed dynamically, leading to higher prices for some groups of goods and services than in other localities.
Third is the city. In Ho Chi Minh City, the cost of living is 98.98% compared to Hanoi. This cost of living is recorded as the lowest in HCMC since 2018 until now.
Living in Hanoi always has to bear the most expensive cost of living in the country. Photo: Hoang Ha
Da Nang ranks fourth among provinces with high cost of living, equal to 96.4% of Hanoi. The price level of Da Nang stands at a high position in the country because it is one of the five major cities of Vietnam, the socio-economic center of the Central region; the center of culture, sport, education and training and science and technology; is a seaport city, an important traffic hub for domestic and international transshipment; the center of post, telecommunications and finance and banking.
Hai Phong has a cost of living equal to 95.58% of Hanoi, ranked fifth, down 2 levels compared to 2020. Most of Hai Phong’s commodity groups are lower than Hanoi from 2.45-17. 0.06%. This is a locality where many important industries of the country are concentrated, especially an important strategic transshipment port. The material and spiritual life of the people has been increasingly improved, leading to higher prices for some groups of goods and services in Hai Phong than in other localities.
Compared to 2020, in 2021, there will be 31 localities with fluctuations in price reduction, 27 localities with increased levels of expensiveness and 5 localities with no fluctuations. In which, there are 10 localities where the cost of living is getting more and more expensive, increasing from 8-22 steps.
Tra Vinh is the locality with the lowest SCOLI index in 2021 in the country, equal to 87.61% compared to Hanoi. The average price of Tra Vinh’s commodity groups compared to Hanoi is in the range of 76.58-99.63%. The second lowest-priced locality in the country is Hau Giang with a cost of living equal to 87.68% compared to Hanoi.
Some localities such as Bac Kan, Vinh Phuc, Ha Tinh, Khanh Hoa, Dong Thap, Kien Giang, Bac Lieu have a relatively high fluctuation in the price level of 2021 compared to 2020 (from 10-22 steps).
Kien Giang from 39th in 2020 to 17th. Khanh Hoa from 23rd in 2020 to 8th in 2021. Ha Tinh from 35th in 2020 to 22nd. Dong Thap from 59th position in 2020 to 47th position.