Schiff Sovereign's Take on Vietnam
Vietnam is a country of almost 100 million people, and it is one of the most exciting places in Asia.
The Vietnamese are sharp, talented, and entrepreneurial. It’s a land of substantial opportunity given its sheer size.
Vietnam is very similar to what China was like some 30 years ago.
Opportunities in manufacturing abound, especially the kind of low-end manufacturing spilling over into Vietnam from China. (We’re already seeing increased prosperity in Vietnam resulting from this increase in production.)
As this trend ramps up, Vietnamese businesses are going to continue to produce, export, and bring that money back into Vietnam. They're going to save, and they're going to invest, and they’re most likely going to prosper.
Of course, Vietnam still has a long way to go, and it is still nominally communist (just like China), but derailing Vietnam’s success story will be hard.
In terms of the lifestyle in Vietnam, it is home to a unique culture, distinct from many other places in Asia.
Hanoi is a wonderful, French-influenced city with a laid-back, relaxed atmosphere. The cuisine is excellent, and wonderful cafes and restaurants are ubiquitous, offering both local and foreign culinary options.
Also, the country is home to a surprising range of climates.
Away from Hanoi, Nha Trang in the country’s south is Vietnam’s premier seaside resort town, boasting warm weather all year round.
Then there is the town of Sapa, with an elevation of 1,500 m (5,500 ft), in Vietnam’s mountainous north, which will appeal to those who prefer a cooler climate without sacrificing access to amenities.
Vietnam’s very low cost of living and low crime rate are just two of the reasons why many expats and digital nomads enjoy living there.
But we can’t say that Vietnam is a popular retirement destination. With its distinct language and culture, Vietnam can present a culture shock, much more so than Thailand or Malaysia.
There is also an anti-American sentiment in certain areas, stemming from the Vietnam war, to contend with.
So, if you are interested in spending longer periods of time in Vietnam, you better have an adventurous soul – and a thick skin.
The Vietnamese are sharp, talented, and entrepreneurial. It’s a land of substantial opportunity given its sheer size.
Vietnam is very similar to what China was like some 30 years ago.
Opportunities in manufacturing abound, especially the kind of low-end manufacturing spilling over into Vietnam from China. (We’re already seeing increased prosperity in Vietnam resulting from this increase in production.)
As this trend ramps up, Vietnamese businesses are going to continue to produce, export, and bring that money back into Vietnam. They're going to save, and they're going to invest, and they’re most likely going to prosper.
Of course, Vietnam still has a long way to go, and it is still nominally communist (just like China), but derailing Vietnam’s success story will be hard.
In terms of the lifestyle in Vietnam, it is home to a unique culture, distinct from many other places in Asia.
Hanoi is a wonderful, French-influenced city with a laid-back, relaxed atmosphere. The cuisine is excellent, and wonderful cafes and restaurants are ubiquitous, offering both local and foreign culinary options.
Also, the country is home to a surprising range of climates.
Away from Hanoi, Nha Trang in the country’s south is Vietnam’s premier seaside resort town, boasting warm weather all year round.
Then there is the town of Sapa, with an elevation of 1,500 m (5,500 ft), in Vietnam’s mountainous north, which will appeal to those who prefer a cooler climate without sacrificing access to amenities.
Vietnam’s very low cost of living and low crime rate are just two of the reasons why many expats and digital nomads enjoy living there.
But we can’t say that Vietnam is a popular retirement destination. With its distinct language and culture, Vietnam can present a culture shock, much more so than Thailand or Malaysia.
There is also an anti-American sentiment in certain areas, stemming from the Vietnam war, to contend with.
So, if you are interested in spending longer periods of time in Vietnam, you better have an adventurous soul – and a thick skin.
