Hanoi most expensive locality in Vietnam

By Hong Chieu   April 1, 2024 | 08:02 pm PT
Hanoi most expensive locality in Vietnam
A corner of a market in Hanoi's Thanh Xuan District, March 2023. Photo by VnExpress/Ngoc Thanh
Hanoi has the highest living costs in Vietnam, followed by HCMC, according to the 2023 Spatial Cost of Living Index announced by the General Statistics Office.

Compared to Hanoi, HCMC’s cost of living is less as some of its goods and services have lower average prices, such as clothing, hats and shoes, which are 82% of the price in Hanoi.

Tourism and entertainment prices in HCMC are also at only 91.8% compared to Hanoi; with food and beverages and household equipment around 5% cheaper.

Besides ample supplies of goods, HCMC also organizes sources of supply and demand better, making the prices of necessities lower than in Hanoi.

However, the southern metropolis does have certain categories of goods and services that are more expensive than in Hanoi, such as education and cigarettes, which are about 15% more expensive.

Quang Ninh is ranked third according to the index, being 97.9% as costly as Hanoi. Among the different categories of goods and services, tourism, household appliances, clothing, food and beverages in Quang Ninh are cheaper than in Hanoi. However, medicine, housing, electricity and water, and construction materials in Quang Ninh are more expensive than in Hanoi.

Quang Ninh is the third costliest locality due to its status as a tourism and economic center in the north.

Active economic activities in the coastal locality mean some of its services would be more expensive than in other regions.

Hai Phong is ranked fourth, with prices at 96% of Hanoi's. It is followed by Binh Duong, with costs at 94.2% compared to the capital.

The five localities with the lowest living costs are Ben Tre, Nam Dinh, Quang Tri, Soc Trang and Gia Lai, with prices at between 85.9%-87.9% compared to Hanoi.

When it comes to economic regions, the Red River Delta has the highest living costs in the country, while the Mekong Delta has the lowest living costs in the country.

The General Statistics Office said the national economy in 2023 was still greatly affected by global situation and extreme weather patterns, among other factors.

The government has deployed several measures to keep inflation at 3.25%.

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