For years, Thailand has reigned supreme as the go-to destination for travelers, expats, and digital nomads seeking a tropical lifestyle with a low cost of living. It’s the ultimate Southeast Asian hub for backpackers, retirees, and those looking to build a business in paradise. But in recent years, there’s been a quiet shift in the region. More and more people are asking, “Is Vietnam the new Thailand?” With its stunning landscapes, vibrant culture, and rapidly growing economy, Vietnam is quickly becoming a hotspot for travelers and entrepreneurs alike.
Let’s take a look at why so many people are choosing to call Vietnam home and whether it’s on track to take Thailand’s crown as Southeast Asia’s premier destination
The Appeal of Vietnam: Why People Are Moving There
While Thailand has long been the darling of Southeast Asia, Vietnam has seen a major influx of expats and digital nomads in recent years. So, what’s driving this movement?
1. Lower Cost of Living
One of the biggest draws of Vietnam is its low cost of living—even lower than Thailand in many places. Whether you’re living in bustling Ho Chi Minh City or the more laid-back Da Nang, daily expenses like rent, food, and transportation are incredibly affordable. For expats looking to stretch their money further, Vietnam is a great alternative to Thailand, where the cost of living has crept up over the years.
For example, in Ho Chi Minh City, you can rent a modern one-bedroom apartment in a good area for around $500-600 a month, while in Thailand’s Chiang Mai or Bangkok, similar accommodations might cost you upwards of $800. Street food in Vietnam is also incredibly cheap, and you can easily eat out for just a few dollars a day. The cost of living makes Vietnam a prime destination for both retirees on a budget and digital nomads building their businesses.
2. Booming Economy
Vietnam’s economy has been booming over the past decade, with annual growth rates consistently above 6%. This economic surge has led to better infrastructure, more job opportunities, and an increase in foreign investment. As the country continues to modernize, more businesses are setting up shop, and more foreigners are finding career opportunities, especially in fields like education, tech, and tourism.
For those looking to open a business, Vietnam’s rapid development means there are still plenty of untapped markets and opportunities. With a growing middle class and increased internet penetration, e-commerce, tech startups, and service-based industries are thriving.
3. Easy Visa Options
One of the perks of living in Vietnam is the relatively easy visa situation. While Thailand has been tightening its visa policies in recent years, Vietnam offers several flexible options for long-term stays. The country offers tourist visas, which can be extended for up to three months, and for digital nomads or expats looking to stay longer, business visas are a popular option. Many people are even setting up small businesses or freelancing to stay legally while enjoying the vibrant lifestyle the country has to offer.
For those planning to invest or start a company, obtaining a business visa in Vietnam is relatively straightforward, especially if you go through a local agent who can guide you through the process.
Lifestyle: How Does Vietnam Compare to Thailand?
Both Thailand and Vietnam offer a fantastic quality of life, but the vibe is different in each country. Let’s break down some key lifestyle factors.
1. City Life
In Thailand, cities like Bangkok and Chiang Mai offer a mix of modern amenities and cultural heritage. However, Ho Chi Minh City (Saigon) is quickly catching up. Saigon has a youthful energy, with its booming startup scene, trendy cafes, and international restaurants. If you’re into urban living with a mix of old-world charm and modern excitement, Saigon offers a vibrant alternative to Bangkok.
For those who prefer a more relaxed pace, Hanoi provides a traditional, slower way of life, with its narrow streets, French colonial architecture, and incredible street food. In comparison, Da Nang is Vietnam’s answer to Thailand’s Chiang Mai, offering a smaller city feel with a beachy twist. The mountains, beaches, and easy-going atmosphere make Da Nang a great alternative for nomads and retirees alike.
2. Culture and Nature
Vietnam offers a rich cultural experience that feels less influenced by tourism than Thailand. The country has managed to hold onto its authentic charm, with its blend of ancient temples, bustling markets, and time-honored traditions.
In terms of nature, Vietnam rivals Thailand’s beauty with its own stunning landscapes—from the iconic limestone cliffs of Ha Long Bay to the terraced rice fields of Sapa. Plus, for beach lovers, Vietnam’s coastlines—especially places like Phu Quoc and Hoi An—offer unspoiled stretches of sand that rival Thailand’s more touristy islands like Phuket and Koh Samui.
3. Expat Communities
Thailand has long been known for its thriving expat and digital nomad communities, but Vietnam’s expat scene is growing rapidly. Ho Chi Minh City, in particular, has become a hub for digital nomads, freelancers, and entrepreneurs. The city’s many co-working spaces, cafes, and social events make it easy to connect with like-minded people.
While Vietnam’s expat community is still smaller than Thailand’s, it’s growing fast, and many long-term expats find it easier to integrate into Vietnamese society due to the welcoming nature of the locals.
Is It Easy to Open a Business in Vietnam?
One of the key factors making Vietnam attractive to expats is the ease of starting a business. For digital nomads and entrepreneurs, Vietnam offers a relatively simple business setup process, especially compared to more bureaucratic countries. The government has been actively encouraging foreign investment, and depending on the type of business, you can start operating relatively quickly.
Small businesses like cafes, bars, and shops are popular ventures for expats, but the tech and services industries are also booming. There’s less red tape than you might expect, and with the right local connections or the help of a business agent, opening a business in Vietnam can be a hassle-free experience.
The Verdict: Is Vietnam the New Thailand?
So, is Vietnam the new Thailand? Well, yes and no. Vietnam offers many of the same benefits that once drew expats and travelers to Thailand—affordable living, incredible food, and stunning landscapes—while still maintaining an authentic charm that Thailand has lost in its more tourist-heavy areas. It’s also easier to start a business and obtain long-term visas in Vietnam, making it an increasingly attractive alternative for those looking to settle in Southeast Asia.
However, Thailand still has its own magic and an established expat infrastructure that’s hard to beat. It really depends on what you’re looking for: if you want a place with a bit more edge and untapped potential, Vietnam is calling your name. If you want somewhere tried and tested with a massive expat community and more modern amenities, Thailand might still hold the edge.
Either way, Southeast Asia remains a paradise for those seeking a laid-back, affordable, and adventure-filled lifestyle. Whether you choose Vietnam or Thailand, you really can’t go wrong!