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Hanoi and HCM City see declining cost-of-living
The price of everything in Vietnam seems to have gone up recently, including petrol, food, rents, medicines and transport.
However, in the midst of all the inflation, Hanoi and HCM City have dropped by 35 places or more on a list of the world’s most expensive cities, says a recent survey by the Mercer Consultancy Company, which annually surveys 143 cities around the world.
It measures the comparative cost more than 200 items in each location, including housing, transportation, food, clothing, household goods and entertainment.
The survey is the world’s most comprehensive cost-of-living survey and is used to help multi-national companies and governments determine compensation allowances for expatriate employees.
According to the survey, Hanoi now ranks 91 st on the list of the world’s most expensive cities, a decline of 35 places on last year-and HCM City has dropped 40 places to rank 100 th .
Also according to Tran Du Lich, head of the HCM City Economy Institute, Hanoi and HCM City are no more expensive than other cities in the region.
“The price levels in both cities are not high if compared with per capita average incomes,” he said.
However, he admitted that the price of high-grade hotels, buildings and golf courses in Vietnam was higher than in many other Asian cities but this was because of demand out-stripping supply.
VNA
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