Everything Is Cheaper In Vietnam Except ...

You can live in Vietnam so inexpensively yet so well, and as a result it has become a destination for services and retirement alike. But there is one key area where you may actually end up paying more in Hanoi than in Toronto: luxury goods. When comparing Canada and Vietnam, two countries with very different economies, regulatory environments, and consumer cultures, we see both surprising overlaps and stark differences in how luxury goods and services are priced, purchased, and enjoyed.

Vietnam’s luxury market is booming—it’s expected to reach over US$1 billion in value, with rapidly increasing high-net-worth individuals and an expanding middle class over the next few years. Even though Vietnam’s the market is rapidly maturing, luxury goods there often come at a premium compared to Canada—mainly due to import duties, retail markup, and lower purchasing power. For Canadians, unless you’re hitting a duty-free zone or snagging a favorable exchange or promotion, Canada might ultimately be the more cost-effective place for luxury shopping.

Gucci Sunglasses: A Case of Comparable Pricing

Sunglasses offer a clear window into price comparisons.

Canada: Gucci sunglasses typically range from CA$350 to CA$1,100, depending on model and exclusivity. At mid-range department stores or duty-free outlets, the most common price points cluster around CA$400–600.
Vietnam: Online import platforms list Gucci sunglasses at VND 9–13 million (~CA$475–660). Official boutiques in Hanoi or Ho Chi Minh City price them similarly, sometimes slightly higher due to duties.

Takeaway: Sunglasses are not cheaper in Vietnam. At best, they match Canadian prices; often, they edge higher. Authenticity is also a bigger concern in Vietnam’s open markets, making official retail or duty-free the only safe options.

Designer Shoes: Sneakers vs. Heels

Footwear reflects lifestyle as much as luxury.

Canada: Designer sneakers (Gucci, Balenciaga, Louis Vuitton) retail around CA$800–1,200. High-end heels from Christian Louboutin or Jimmy Choo typically start at CA$1,000 and can rise to CA$1,800+.
Vietnam: Equivalent items sold through official boutiques often carry a 10–20% premium over Canadian prices once taxes and shipping are factored in. A pair of Gucci sneakers, for example, may retail closer to CA$1,000–1,300.

Takeaway: Shoes are consistently more expensive in Vietnam due to duties. While wealthy Vietnamese buyers still flock to them as status symbols, price-sensitive luxury shoppers often wait to buy abroad—in Singapore, Japan, or Europe.

Men’s Watches: A Tale of Import Duties and Heritage

Watches are where the pricing gap becomes clearest.

Canada: Entry-level Swiss luxury brands like TAG Heuer or Longines retail at CA$2,500–5,000. Mid-tier Rolex, Omega, or Cartier pieces range from CA$8,000–15,000, with premium models easily crossing CA$30,000.
Vietnam: Import duties and consumption taxes add significant costs. A Rolex Submariner that might retail for CA$12,000 in Toronto could list closer to CA$14,000–16,000 in Hanoi. The difference is partly offset by the growing secondhand and grey-market trade, but authenticity risks abound.

Takeaway: Vietnam’s market is growing fast, but Canadian buyers enjoy better pricing and fewer risks. Watches remain aspirational in Vietnam, but high-net-worth individuals often purchase abroad.

Handbags: The Status Symbol Par Excellence

Handbags are perhaps the most visible sign of luxury consumption.

Canada: Entry-level luxury bags (Prada nylon, Gucci Soho) range from CA$1,500–2,500. Chanel classic flaps retail around CA$12,000 as of 2025, while Hermès Birkin and Kelly bags climb far higher—upward of CA$20,000–50,000 depending on rarity.
Vietnam: Official pricing tends to be 10–25% higher than in Canada. A Chanel flap bag may push CA$13,500–15,000 equivalent in local boutiques. Because Hermès operates on scarcity everywhere, prices align globally, but taxes make them relatively steeper for Vietnamese buyers.

Takeaway: Handbags are universally costly, but Vietnamese buyers pay more for the same product. The higher cost, however, amplifies their status value in an emerging luxury market.

Travel as Luxury: Flights and Hotels

Luxury isn’t just what you wear, it’s also where you go and how you get there.

Flights

Canada: A round-trip business class flight from Toronto to Paris averages CA$4,500–6,500, depending on season.
Vietnam: From Hanoi to Paris, business class ranges US$3,500–5,000 (~CA$4,700–6,700). Prices are comparable, though service levels may differ depending on airline.

Hotels

Canada: Luxury hotel rooms in Toronto or Vancouver (Fairmont, Ritz-Carlton, Shangri-La) typically cost CA$700–1,200 per night.
Vietnam: High-end hotels in Hanoi or Ho Chi Minh City (Metropole, Park Hyatt, Capella) range CA$350–600 per night, roughly half the Canadian equivalent while offering service levels that often exceed Western standards.

Takeaway: Flights cost about the same, but luxury hotels in Vietnam deliver better value, making the experience of luxury travel far more accessible on Vietnamese soil.

While many things in Vietnam are much cheaper, luxury is the exception, so if you come to Hanoi for a shopping spree be forewarned: in most cases, your money will go further in Europe or North America.