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Why the Retired Expat Exodus to Vietnam seems very real


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Why the Retired Expat Exodus to Vietnam seems very real

By Dan Cheeseman

 

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Living in Thailand for many of us Expats is what dreams are made of. With a beautiful climate, food and wonderful Thai people, it is paradise. But everything has its tipping point yet we don’t really know what an expats tipping point was when it came to upping sticks and leaving.

 

There has been a whole number of factors in recent times that has made living in Thailand more challenging, more so for retired expats; with the strengthening of the baht and weakening of domestic currencies causing a serious financial issue. This shifting of valuations has meant Thailand is no longer a cheap place to retire.

 

I have tried to look for clues of evidence as to what is really happening, and, although some of the data below are questionable, the sum total does help give an indication as to what’s maybe happening.

 

Survey Insight


Back in August 2018, Thaivisa.com conducted an Expat Survey which attracted over 1,400 respondents. If you were a Brit living in Thailand it was 42 baht to the pound back then, so the lowest it had ever been.  40% of all respondents said they had considered leaving Thailand in the last 12 months due to economic hardship. If that was the case then it could be argued, the figure is even higher now. It is also a fair assumption to believe that of that 40% considering leaving, some have already left Thailand for pastures new.

 

The survey also revealed a staggering 1 in 4 (26%) survived on less than 45k baht a month. Using the UK versus Thai baht exchange rates it means with further polarization of rates that 45k baht back then is nearer 40k baht today – in less than 12 months. Something has to give.

 

Full story: https://danaboutthailand.com/2019/08/23/why-the-expat-exodus-to-vietnam-is-very-real/

 

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If we had the paperwork for our adopted daughter, me and the wife would sell our uk house that we currently use as income combined with my early pension, buy a house more northern in the UK - bigger and better than my 2 bed southern - and have enough money in the bank to show uk immigration. But as it is I am having to live in Thailand and suck it up for a while longer. That's life.

 

I know many people struggling to stay who take care of Thai families and have enough to do so, BUT are falling foul of income regulations due to high baht level.

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59 minutes ago, Jingthing said:

Vietnam doesn't have a retirement visa and doesn't offer long term residence security. If they ever do and my guess they never will, I reckon the financial requirements would be prohibitive for most. 

Cambodia does have a retirement option but then you're living in Cambodia. 

So I don't see Vietnam as a "real" expat retirement option. At least yet. Sorry. 

As a place to hang up for a year or a few years. Sure, sounds pretty good. But that's not what everyone is looking for. 

Vietnamese are closer to the Chinese than the Thais. They value education highly and are fast moving forward. Inevitably the prices will rise there too. If anyone is making plans for Vietnam longer than 5 years and factoring today's prices, they are fooling themselves.

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1 hour ago, Jingthing said:

Vietnam doesn't have a retirement visa and doesn't offer long term residence security. If they ever do and my guess they never will, I reckon the financial requirements would be prohibitive for most. 

Cambodia does have a retirement option but then you're living in Cambodia. 

So I don't see Vietnam as a "real" expat retirement option. At least yet. Sorry. 

As a place to hang up for a year or a few years. Sure, sounds pretty good. But that's not what everyone is looking for. 

Dutch people I know are heading out to live in the Philippines. Just having hassles ( normal) in selling their houses.

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1 minute ago, 3421abc said:

For me is not about the exchange rate. I dont feel welcome here and I don't want to reward a country that treats me poorly by spending my money here. For all I care this government can shove it up their ass.

Vietnam more precisely Ho Chi Minh City has been on my radar for years and it has been developing fast. 

????

 

 

 

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Will hang on for another 5% currency drop—then leave.  First, to a beachfront hotel in Vietnam for a couple of months.  If the currency doesn’t recover—will consider permanent status, or return to USA.  Have house, truck and boat here—so will always return for a while...

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the chemicals agent orange sprayed on vietnam will be there for centuries to come

 

dioxin is not on my menu to try with local meat or veggies

 

pesticides and herbicides in thailand are already bad enough

 

if I COULD leave, with my daughter, I would be on the next plane to homeland...

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