Foreign experts favor Vietnam labor market: survey

Foreign experts favor Vietnam labor market: survey

Vietnam is one of the most attractive destinations for foreign workers because of the high post-tax income and low expenses for accommodations and meals.

Vietnam was the 16th most attractive labor market among 34 surveyed markets in the HSBC’s Expat Explorer survey.

Vietnam placed above Japan (18), Malaysia (19), France (23), Ireland (25), the US (30), Italy (31), and the UK (33).

In terms of income, foreign experts working in Vietnam get higher benefits than in India, Thailand, Australia, the UK and US, ranking eighth among 34 countries.

However, foreign experts have problems in educating their children in Vietnam. The country ranks 24th out of 34 countries in this area.

After working hours, expats like traveling, challenging themselves and relaxing with entertainment activities.

Nearly eight in every 10 foreign specialists working in Vietnam say they take more trips in Vietnam than in their home countries.

They said the low costs in Vietnam helped them use their incomes more effectively.

Fifty-two percent of foreign specialists working in Vietnam said they had better incomes here than in their home countries, lower than the average 53 percent globally.

However, as specialists in Vietnam bear lower income tax, three-fourths of them said their post-tax incomes had increased in Vietnam. The proportion is higher than the global average of 53 percent.

Foreign specialists also said the working environment can bring them new experiences. Most of them said they travel more when they are in Vietnam, mostly because of the lower travelling expenses.

Expats said they could sample local food and travel in Vietnam at “reasonable costs”.

In general, Asia has emerged as an attractive destination for foreign specialists who want to challenge themselves.

Two-thirds of the expats in Japan, and more than half in Taiwan and Vietnam said the aspiration to conquer challenges was the most important reasons behind their moves.

The expats surveyed are mostly university graduates from western countries such as the US and the UK.

Forty-two percent of expats in Japan and 35 percent of expats in Taiwan are from the US. Meanwhile, about one-fourth of expats in Malaysia and Vietnam are from the UK.

A Vietnamese labor expert commented that the HSBC survey reflects the current flow of the workforce across the globe.

He said Vietnam, with improved working and living conditions, has attracted many foreigners who work in many different fields, from engineers to physicians to singers and footballers.

vietnamnet