Expat parents say Vietnam has left good impacts on their children’s lifestyle, an HSBC survey has found.
Half of the respondents believe their children’s overall quality of life is better as a result of the move to Vietnam, while 30 percent rate it the same.
Up to 77 percent find that moving to Vietnam helps their children become open to new cultures and experiences and 69 percent see it is a good opportunity for the children to be fluent in more than one language.
Despite those benefits, only one-fifth agree that the health and well-being of their children is better while 49 percent say it the same, according to the annual HSBC’s Expat Explorer survey. In comparision, on the global scale, around half of expat parents say moving abroad improve their children's health and well-being.
"Whether it is improving a foreign language or becoming more confident, it’s likely that children however can enjoy a variety of benefits from an expat life in Vietnam such as their improved quality of life and openness to new cultures," said Sabbir Ahmed, country head of Retail Banking and Wealth Management at HSBC Vietnam.
The costs to raise a child in Vietnam can be higher than previously thought. More than half of expat parents in Vietnam find that it's more expensive to raise children here than in their home country, with 39 percent saying the cost of childcare in particular is higher.
The London-based bank's Expat Explorer survey questioned 26,871 expats from more than 100 countries and territories between March and May 2016 based over their satisfaction with their careers, personal finance as well as economic, culture and life aspects in the host country.
Key findings of the survey were first announced last year, placing Vietnam at 19th overall, right above Japan.
This week HSBC released specific data highlighting parenting aspects.
As for work-life balance for expats, Vietnam has beaten most Asian peers in the survey. It comes after Singapore, Hong Kong and Taiwan, with very high satisfaction about savings, disposable income, culture and integration. The country’s healthcare, expectedly, received the lowest score.