Vietnam is the second cheapest country to retire to this year, according to the Annual Global Retirement Index.
The index, published by Ireland’s publication International Living, lists the best retirement havens by scoring countries in 13 categories, including visas and residence, cost of living, entertainment and amenities, healthcare, and business opportunities.
While Vietnam is only ranked 19th among 25 countries in the index, it is the second best in terms of cost of living.
“Vietnam is a fascinating and vibrant destination, rich in natural beauty, steeped in history and brimming with opportunity. Whether you want to live in the heart of the city, nestle among pine-forested mountains, or overlook a sun-washed beach, you’ll find modern, high-quality housing for low prices,” the report said.
Saigon and Hanoi are the most expensive cities in the country, while a life of retirement in other tourism-centric cities like Da Nang, Hoi An, Nha Trang, and Vung Tau will be much easier on the wallet, it suggested.
However, Hanoi and Saigon are still considered some of the cheapest Southeast Asian cities to live in, according to the 2019 Cost of Living Index published by user-contributed database Numbeo.
Vietnam has consistently been ranked as one of the world’s cheapest destinations for travelers for its low living costs. Numbe estimates an expat’s monthly living cost in the country ranges from $700 to $1,400.
Forbes magazine in 2017 ranked Vietnam as one of the cheapest destinations to visit, with affordable luxury resorts, healthy food at cheap prices and beautiful sights.
Vietnam reached a turning point in 2015 when it became one of the countries with the fastest aging populations in the world.