Returning to a Changed Vietnam

For many overseas Vietnamese, returning home is not just a journey across borders but also a trip back in time. However, the reality of Vietnam's economic boom has transformed the cost of living, leaving many returnees in shock. Mai, a woman from Ba Ria - Vung Tau now living in South Korea, experienced this firsthand during her first visit back in 2024.

Mai's experience of spending up to VND18 million a day highlights the significant price increases that have taken place. From a simple carton of milk to dining out, the cost of living in Vietnam has risen sharply, challenging the perception of Vietnam as an inexpensive country.

Economic Growth and Its Impact

Phan Dung Khanh, a financial director, attributes these changes to Vietnam's robust economic growth, with GDP consistently growing at 6-7% annually since 2010. This growth has led to higher living standards and, consequently, higher prices, especially in major cities like Ho Chi Minh City and Hanoi.

A New Reality for Visitors

Quang Vinh, a tech CEO from California, notes that the cost of some goods and services in Vietnam now matches or exceeds those in the U.S. His experiences, including spending $50 on a bowl of pho, underscore the dramatic shifts in Vietnam's economic landscape.

For overseas Vietnamese, these changes necessitate a reevaluation of spending habits and expectations when visiting their homeland. The allure of affordable healthcare and beauty services remains, but the overall cost of living presents a new challenge for returnees.