Why Vietnam is a cheap country for travelers
There is a variety of reasons that Vietnam is cost-effective for tourists. Firstly, the US Dollar, Euro, and British Pound Sterling have strong purchasing power against the Vietnamese Dong. This means visitors to the country from Europe and the US literally get more bang for their buck. Everything is become really cheap for average for people in developed country Accommodation, transport, sightseeing, food and drinks… budget tourism site Price of Travel has recently estimated a backpacker’s daily expenses in Hanoi at VND500,000. That’s less than the entrance fee to visit the Tower of London—in pounds!
Additionally, Vietnam’s economy has made the standard of living very cheap for local inhabitants. Cheap work is also cheap price. Another reason for the cheap food prices is the same as for the affordability of life in Vietnam in general: wages are rising, but still low on an international scale. Consequently, the labour cost that goes into your lunch is considerably lower than in other countries, which beats down the prices and also creates a demand for reasonably priced food. If you earn VND5 millions per month, you won’t spend more than two on your daily eating. So there are also vendors who cater to that demand. As a result, prices are concurrently very low for travelers visiting from abroad in the local currency.
Despite the fact that Vietnam’s profile is soaring in the travel sector and prices are steadily rising it is still one of the best cheap places to travel in Asia. Numbers of Vietnamese cities have been noted by travel experts for being amongst the cheapest for tourists in Asia.
How much money do we need in Vietnam?
How much money do you need to visit Vietnam? The answer ultimately depends on what kind of food you plan to eat, what standard of accommodation you plan to stay in, and how you plan to make your way around the country
Although Vietnam is getting more expensive every year, it’s still a cheap country to visit. Costs are comparable to Thailand and other nearby countries like Cambodia, although like with any country, certain things are either cheaper or more expensive in Vietnam than elsewhere
As a general rule, you’ll be able to travel around Vietnam as a backpack on a budget of $40 to $50 per day. However, your luxuries will be limited and you’ll spend more of your time eating at local restaurants instead of Western cafés and eateries. For a more comfortable backpacker experience in Vietnam, it’s best to budget around $50 per day. This way, you’ll have more money to spend on things like food, drinks, activities and hotel rooms.
For a comfortable mid-range experience in Vietnam, it’s best to budget $60 to $100 per day for your entire costs. This gives you enough to pay for a comfortable three to four-star hotel room, eat in mid-range to high-end restaurants and visit most activities and attractions.
For a five-star experience in Vietnam, expect to pay $150 per day at the bare minimum (you’ll spend about $75-$100 for your hotel room, at the very least) or $200+ if you plan on dining out often and staying in a very luxurious hotel.
How to spend money wisely?
To save and use your money wisely during the trip in Vietnam, you have to remember these advices below:
- Don’t mistake over the bill when using any service: the denominations of money in Vietnam are quite similar to one another, which usually leads to some mistaken situations when paying.
- Noticing the amount of money: Vietnamese money today is made of long-lasting polymer thus they may stick together so tightly that you can’t recognize when counting. Therefore, you can overpay for your purchase.
- Avoiding bringing a lot of money with high par value: it is very inconvenient if you buy some cheap things and the seller doesn’t have enough money to give back.