Generally speaking, Bali can be both affordable and expensive. Everything from food, accommodation and transport to living expenses can be cheap. But at the same time, if you want to splurge, as many do for their honeymoon, your Bali trip can be quite expensive.
Low labor costs
In addition to the lower cost of living in Bali, another reason why Bali is so cheap is due to its low labor costs.
In fact, the most expensive part of your Bali vacation will probably be spent on airfare. All that said, you can easily spend a week or two in Bali for under $2,000, without having to sleep on the beach. Here are a few things to consider when planning Bali on a budget. Searching for the best beach hotel in Bali
I suggest that for 10 days in Bali that you bring about $250-$500 USD. This will be more than enough to cover your day-to-day cash expenses on a small to medium budget.
The typical cost for a person for a week in Bali is from 1,000 USD.
On top of flights, if you budget around $100 per day for your trip to Bali it would be more than enough. This amount would enable you to stay in a mid-range hotel, eat out for every meal and enjoy some of the island's best activities.
Which place is cheaper, Bali or Hanoi These are the overall average travel costs for the two destinations. The average daily cost (per person) in Hanoi is $51, while the average daily cost in Bali is $78.
We recommend budgeting $630 for a week in Bali. This will cover you for private transport, a few restaurant meals and a tour or two to your favourite attractions.
Yes, it's possible to live off USD $1,000 per month in Bali. But, of course, it all depends on your lifestyle. If you're a single person, you'll need anywhere between USD $750 and USD $2,500 per month. Couples and families who share the cost of rentals will save quite a bit of money.
Economy. Vietnam has a GDP per capita of $8,200 as of 2020, while in Indonesia, the GDP per capita is $11,400 as of 2020.
Bali remains affordable compared to Western destinations and other Southeast Asian countries like Singapore and Malaysia; however, Thailand is still slightly less expensive. This is what makes Thailand such a great choice for many travelers.
Overall, Thailand is cheaper than Bali.
The list of the six richest persons in Vietnam includes Pham Nhat Vuong with 7.5 billion USD, followed by Tran Dinh Long 3.1 billion USD, Ha Hung Anh 2.6 billion USD, Nguyen Thi Phuong Thao 2.5 billion USD, Nguyen Dang Quang 2.2 billion USD, and Tran Ba Duong 1.6 billion USD.
Specifically, in the period 2018-2021, Thailand's average GDP (7,800 USD/year) is about 3 times that of Vietnam (2,740 USD/year). In 2021, the average GDP of Vietnam will reach about 2,859 USD and Thailand will reach about 7,645 USD. In 2021 alone, Thailand's average GDP is about 2.7 times that of Vietnam.
Many who have travelled to Bali, as well as Phuket, will instantly say that Bali is cheaper. In many ways, they are correct, from flight rates to accommodation to transportation and entertainment. If you are travelling under budget and still crave to enjoy a holiday in a tropical paradise then Bali is your place!
We have been to Thailand and Bali two times each. Thailand is much cleaner and prettier (except for Bali's Ubud area). Love the Thai for swimming and snorkelling beaches and adore Phi Phi, Krabi, etc.
The average wealth of people in the top 5% of the richest population in 2021 is 316,658 USD (equivalent to 7.8 billion VND), top 10% richest is 181,132 USD (equivalent to 4.1 billion VND). Meanwhile, the average wealth of the poorest 50% of the population is only 3,429 USD (nearly 78 million VND).
An individual in Vietnam now needs a net wealth of $160,000 to join the so-called '1 percent club' of the richest people in the country of 98 million. There were 19,491 people with a net worth of $1-30 million last year, down 6 percent from 2019. This number is projected to reach 25,812 in 2025.
Vietnam is now defined as a lower middle income country by the World Bank. Of the total Vietnamese population of 88 million people (2010), 13 million people still live in poverty and many others remain near poor. Poverty reduction is slowing down and inequality increasing with persistent deep pockets of poverty.
In terms of GDP per capita, for many years, Thailand's GDP has always been larger than that of Vietnam. Specifically, in the period 2018-2021, Thailand's average GDP (7,800 USD/year) is about 3 times that of Vietnam (2,740 USD/year).
An individual in Vietnam now needs a net wealth of $160,000 to join the so-called '1 percent club' of the richest people in the country of 98 million. There were 19,491 people with a net worth of $1-30 million last year, down 6 percent from 2019.
Cardiovascular disease (CVD), which includes strokes and ischemic heart disease, is responsible for 31% of deaths in Vietnam. Cancers of the lung and liver follow closely behind. Strokes cause the most deaths in the Vietnamese population with 200,000 new cases each year; half of them are fatal.
The 1954 Geneva Accords Divide Vietnam
The resulting Geneva Accords would dissolve the French Indochinese Union. The Geneva Accords were signed in July of 1954 and split Vietnam at the 17th parallel. North Vietnam would be ruled by Ho Chi Minh's communist government and South Vietnam would be led by emperor Bao Dai.
The United States, Canada, Japan, South Korea, Taiwan, Western European nations and their allies represented the "First World", while the Soviet Union, China, Cuba, North Korea, Vietnam and their allies represented the "Second World".
Vuong, 54, is Vietnam's richest man, with a $3.9 billion net worth, according to the Bloomberg Billionaires Index. He started his own business while studying in Moscow and has said he left Russia with $40,000 in debt.