Top 10 Wealthiest Provinces and Cities in Vietnam Today

Ranked 4th on this list is Ba Ria - Vung Tau, with an income of 88 million VND per person per year. Ba Ria - Vung Tau is a coastal province in the Southeast region of Vietnam. Located in the southern economic zone, it borders Dong Nai to the north, Ho Chi Minh City to the west, Binh Thuan to the east, and the South China Sea to the south. By 2020, Ba Ria - Vung Tau aimed to become the largest port city in the country, alongside Hai Phong, as a logistics and industrial hub. The forecasted GDP per capita is 27,000 USD per person per year, comparable to developed countries. As for maritime industries, Ba Ria - Vung Tau is a major port hub in Southeast Vietnam, part of a port group that includes Ho Chi Minh City and Dong Nai. Over 100,000-ton containers can directly sail from its ports to Europe and America. Currently, 24 out of 52 planned ports are operational, with others under development. In tourism, Vung Tau stands as one of the top destinations in Vietnam, with famous beaches like Thuy Van (Back Beach), and notable resorts such as Biển Đông and Nghinh Phong. Famous hotels include Thuy Van Hotel, Sammy Hotel, Intourco Resort, and DIC Hotel.

Hanoi ranks 5th on the list with 87 million VND per person per year. As the capital of the Socialist Republic of Vietnam, Hanoi is the political, economic, cultural, and technical center of the country. It is also one of the top 17 largest capital cities in the world, covering an area of 3,324.92 km². To the north, Hanoi borders Thai Nguyen and Vinh Phuc provinces, while to the south, it adjoins Ha Nam and Hoa Binh. To the east, Hanoi shares boundaries with Bac Giang, Bac Ninh, and Hung Yen, and to the west, it borders Hoa Binh and Phu Tho. Hanoi is located on the right bank of the Da River and both sides of the Red River, with the plains covering three-quarters of the city’s area. This strategic location has enabled Hanoi to become a hub for politics, economics, culture, science, technology, and transportation in Vietnam. The capital’s economy continues to grow, with numerous large shopping centers like Royal City, Time City, and AEON Mall emerging as popular destinations for shopping. Hanoi also has great potential for tourism development, with its impressive architectural sites and a vast collection of museums, making it one of the most diverse museum destinations in Vietnam. The city is well-positioned to promote Vietnamese culture to international visitors through folk theater and traditional craft villages. In addition to its 11 five-star hotels such as Daewoo, Horison, Hilton Hanoi Opera, Melia, Nikko, Sofitel Metropole, Sheraton, Sofitel Plaza, InterContinental, Crown Plaza, and Marriot, Hanoi also boasts 6 four-star and 19 three-star hotels. Tourism in Hanoi continues to attract an increasing number of visitors, with 1.1 million international tourists in 2007 and 1.3 million in 2008 out of a total of 9 million visitors to the city.

Da Nang is one of Vietnam's five centrally governed cities, located in the South Central Coast region. It is the largest and most important city in Central Vietnam, serving as a core hub of the region's key economic zone. Da Nang is classified as a first-tier city, with regional and national importance.

Geographically, Da Nang lies at the midpoint of Vietnam, playing a crucial role in both economic and national security matters. It serves as a center for industry, finance, tourism, services, culture, education, healthcare, science, technology, startups, and innovation in the Central Highlands, as well as in the country. Da Nang also functions as a significant coastal city and a vital transportation hub for road, rail, sea, and air travel.

In recent years, Da Nang has heavily invested in infrastructure development, environmental improvements, and enhancing social welfare, earning a reputation as the most livable city in Vietnam. In 2018, Da Nang was selected as one of the top 10 best places to live abroad by Live and Invest Overseas (LIO). By 2022, Da Nang’s average income ranked 6th in the country, with the monthly average salary of salaried workers in the city surpassing 7.3 million VND, a 15.3% increase from 2021. In 2022, the Gross Regional Domestic Product (GRDP) per capita in Da Nang was 102.6 million VND, up 13.8% compared to 2021.

Although Da Nang may not have many world-renowned tourist attractions, it is a popular destination for both domestic and international travelers. Surprisingly, the tourism sector also makes a significant contribution to the city's overall GDP.

Khanh Hoa is one of Vietnam's rapidly growing and robust economies. According to statistics from the Provincial People's Committee, the province's GDP growth rate stands at 11.55%, with industrial and construction output increasing by 15.5%, agriculture, forestry, and fisheries growing by 2.81%, and the tourism services sector expanding by 14.5%. In 2011, the average GDP per capita was 1,710 USD, higher than the national average. The economy is predominantly service-oriented, with tourism accounting for 45%, industry and construction making up 42%, and agriculture, forestry, and fisheries contributing 13%. In 2019, the province’s GRDP index grew by 6.8%, industrial production rose by 7%, social investment capital increased by 11.2%, tourism revenue surged by 24.2%, export turnover grew by 1%, and state budget revenue rose by 10%.

Khanh Hoa is one of Vietnam's top tourist destinations. With over 200 kilometers of coastline, nearly 200 islands, and beautiful bays like Vân Phong and Nha Trang (one of the world’s 12 most beautiful bays), Cam Ranh, and a temperate climate with an average temperature of 26°C and over 300 sunny days a year, it is a hub for both historical sites and natural beauty. Tourism, especially beach and island ecotourism, sightseeing, and cultural tours, is the most developed sector in Khanh Hoa, attracting over 1.6 million visitors in 2009. Nha Trang, as the province’s key tourist city, has hosted major events like the Miss Vietnam pageant, the Miss World Vietnamese 2007 and 2009 contests, the 2008 Miss Universe pageant, and the 2010 Miss Earth contest, alongside the biennial Nha Trang Sea Festival, which has played a significant role in promoting Khanh Hoa’s tourism worldwide.

By mid-2024, Khanh Hoa’s GRDP increased by 7.8%, with tourism services growing by 11.21% compared to the same period the previous year, generating over 12,500 billion VND. Industrial and construction sectors grew by 8.33%, while agriculture, forestry, and fisheries saw a slight increase of 0.077%. As a result, Khanh Hoa now ranks 7th in the list of the wealthiest provinces and cities in Vietnam.

Hai Phong is a coastal port city located in the northeastern region of Vietnam, approximately 102 km from Hanoi. It borders Quang Ninh to the north and northeast, Hai Duong to the northwest, Thai Binh to the southwest, and the sea stretches from Cat Hai Island to the mouth of the Thai Binh River to the east.

It is Vietnam's third-largest city, the second-largest in the north after Hanoi, and one of the five centrally governed cities with a Class-1 urban designation. Like Da Nang and Can Tho, it serves as a national center for development. Aside from being an industrial port city, Hai Phong is also a potential tourism hotspot. The city preserves numerous architectural landmarks, including traditional structures such as temples, pagodas, and ancient shrines, as well as French neoclassical-style buildings located in the historic districts.

Additionally, Hai Phong is home to a UNESCO biosphere reserve located in the Cat Ba Archipelago, alongside beautiful beaches and resorts in Do Son. The city is also known for its rich cultural traditions, including its distinct cuisine and festivals. Since 2005, Hai Phong has consistently ranked among the top five cities contributing the highest to the national budget, sitting at third place after Ho Chi Minh City and Hanoi. In 2015, the city's total budget revenue reached 56,288 billion VND, increasing to 62,640 billion VND in 2016 and 72,100 billion VND in 2017. In the 2013 Provincial Competitiveness Index of Vietnam, Hai Phong ranked 15th out of 63 provinces and cities.

Hai Phong is also the largest port city in northern Vietnam. In 2024, the city has made remarkable advancements across various sectors, including economy, culture, healthcare, education, science, trade, and technology. As a result, Hai Phong has earned the title of Class-1 urban city in Vietnam. Economic statistics show a 9.94% increase in Gross Regional Domestic Product (GRDP) during the first half of the year. Agriculture, forestry, and fisheries grew by 0.95%, industrial output rose by 10.61%, tourism services expanded by 11.12%, and port transportation saw a substantial 16.29% increase.

Quang Ninh is a province located in the northeastern region of Vietnam. It borders China to the north, the Gulf of Tonkin to the east, three provinces—Lang Son, Bac Giang, and Hai Duong—to the west, and Hai Phong city to the south. The province is rich in diverse and high-quality mineral resources, including coal, clay, kaolin, glass sand, limestone, and more, which many other regions in Vietnam do not possess.

Quang Ninh plays a key economic role as a driving force for the northern region and is one of Vietnam's four major tourism centers, home to the UNESCO World Heritage site of Ha Long Bay, which has been recognized twice by UNESCO for its exceptional aesthetic, geological, and geomorphological value. The province is home to several economic zones, with the Mong Cai border trade center being a crucial link for trade between Vietnam, China, and other countries in the region.

As an economic hub, Quang Ninh is crucial to the industrialization and modernization of Vietnam. The province is home to various economic zones, including the Mong Cai commercial center, which facilitates trade between Vietnam, China, and the broader region. In 2017, Quang Ninh's growth rate reached 10.2%, with an average income per capita of 4,528 USD, nearly twice the national average. The province continued to rank among the top five contributors to Vietnam’s national budget, with estimated revenue surpassing 37,600 billion VND. The province also prioritized efficient spending, with over 56.67% of the budget allocated for development projects, resulting in a total social investment of over 60,600 billion VND. Average wages for workers in key industries such as coal, electricity, ports, border gates, and tourism are significantly high.

Bac Ninh is the smallest province in Vietnam, located in the Red River Delta, and is a key part of the northern economic region. The provincial capital, Bac Ninh city, is just 30 kilometers northeast of Hanoi. To the west and southwest, it borders Hanoi, while to the north it shares borders with Bac Giang province, to the east and southeast with Hai Duong province, and to the south with Hung Yen province.

Bac Ninh is known as the center of the ancient Kinh Bac region. The province hosts around 41 major festivals throughout the year, including renowned events such as the Dau Pagoda Festival, Lim Festival, Do Temple Festival, and Ba Chua Kho Temple Festival. In 2017, Bac Ninh's economy continued to expand, further enhancing its position among the top provinces and cities in Vietnam. Its GDP contribution that year was 3.11% of the national total, ranking 4th out of 63 provinces and cities. Bac Ninh's GRDP growth rate reached 19.12%, far surpassing the projected growth of 9.0-9.2%, making it the fastest-growing province in Vietnam in 2017. The province's economic structure shifted as expected, with industrial and construction sectors accounting for 75.2%, services at 21.8%, and agriculture, forestry, and fisheries at 3.0%. Industrial production saw remarkable growth, with the total industrial output in 2017 estimated at 1.049 trillion VND, placing Bac Ninh second in industrial output nationwide, just behind Ho Chi Minh City. This industrial boom served as a major driver for Bac Ninh's high economic growth in 2017.

By 2021, Bac Ninh was ranked 22nd in Vietnam by population, with a total of 1,462,945 people. It ranked 8th in terms of total GRDP and 3rd for GRDP per capita. The province's GRDP for 2021 reached 227.615 trillion VND (nearly 10 billion USD), with a per capita GRDP of 6,752 USD (equivalent to 155.6 million VND). Bac Ninh achieved a GRDP growth rate of 6.9% in 2021.

As we approach the end of 2023, the economic performance of provinces across Vietnam has been a topic of much attention. A key question that has emerged is: Which province is the richest in Vietnam in 2023? According to a report from the General Statistics Office, based on the GDP per capita index, Binh Duong emerges as the wealthiest province in Vietnam, with a GDP per capita of 113 million VND per person per year.

Binh Duong is located in the Southeast region of Vietnam, part of the southern key economic area. To the east, it borders Dong Nai province; to the north, it shares borders with Binh Phuoc province; to the west, it adjoins Tay Ninh province and a part of Ho Chi Minh City; and to the south, it also borders Ho Chi Minh City and a part of Dong Nai province.

In 2020, Binh Duong was the sixth most populous administrative unit in Vietnam, with a population of 2.465 million people. It is also the fourth most populous province in the country. Binh Duong ranked third in terms of Gross Regional Domestic Product (GRDP), third in GRDP per capita, and eighth in GRDP growth rate. By 2023, Binh Duong's GRDP reached 389.5 trillion VND (equivalent to 16.81 billion USD), and its GRDP per capita for 2023 was 172 million VND (equivalent to 7,012 USD), the highest in Vietnam. The projected GRDP growth rate for 2023 is 9.5%.

Binh Duong is also historically significant, with key landmarks such as Phu Loi, Bau Bang, Ben Suc, Lai Khe, Nha Do, and especially the D Zone resistance area, with its center in Tan Uyen district (now divided into Bac Tan Uyen district and Tan Uyen city). The region is also famous for the Iron Triangle and its three villages of An. Additionally, Binh Duong is home to Dai Nam Tourist Complex, the largest tourism destination in Southeast Asia.

Ranked second is Ho Chi Minh City, with a per capita income of approximately 107 million VND per person per year. Ho Chi Minh City is the largest city in Vietnam, serving as the country's political, economic, cultural, and scientific hub. The city covers a total area of 2,095.01 km², accounting for just 0.6% of Vietnam's total land area and 8.34% of its population, but it contributes to 20.5% of the national GDP, 27.9% of industrial output, and 37.9% of foreign investment projects. Ho Chi Minh City has a diversified economy, ranging from mining, fisheries, agriculture, manufacturing, construction, tourism, to finance. The city's consumption levels are significantly higher than those of other provinces and are 1.5 times greater than the capital, Hanoi.

With its numerous industrial zones and the continuous development of both domestic and foreign companies, Ho Chi Minh City's residents are considered to have higher incomes, which is particularly evident in the city's leading position in online shopping demand across the country. The city is also one of the most popular destinations for both domestic and international tourists, as well as a desirable place to live and work.

Ho Chi Minh City has a wide variety of shopping centers, supermarkets, and markets. Ben Thanh Market, a historical symbol of the city's trade, still plays a key role today. In recent decades, modern shopping malls such as Saigon Center and Diamond Plaza have emerged. Thanks to its favorable natural conditions, Ho Chi Minh City has become a vital transportation hub for both Vietnam and Southeast Asia, encompassing roads, railways, waterways, and airports. In 2007, the city welcomed around 3 million international visitors, accounting for 70% of Vietnam's total inbound tourism. Ho Chi Minh City also plays a leading role in education, media, sports, and entertainment.

With a per capita income of 92 million VND per person per year, Dong Nai ranks third on this list. Dong Nai is a province in the southeastern region of Vietnam, covering an area of 5,894.73 km², which makes up 1.76% of the country's total area and 25.5% of the southeastern region's area. Geographically, Dong Nai is well-positioned, bordered by Binh Thuan to the east, Lam Dong to the northeast, Binh Duong and Binh Phuoc to the northwest, Ho Chi Minh City to the west, and Ba Ria-Vung Tau to the south.

According to the Dong Nai People's Committee, the average income per capita in the province reached 4,810 USD in 2019, surpassing the target set by the provincial People's Council by 210 USD. For many years, Dong Nai has consistently maintained an annual growth rate of its Gross Regional Domestic Product (GRDP) between 8% and 9%. The province has implemented various policies to attract foreign direct investment (FDI) into key industrial and agricultural sectors, particularly in select industrial zones. Furthermore, Dong Nai was the first province in Vietnam to complete its rural development program.