Both cities, which are the biggest and busiest in Vietnam, are considered as having “magical” prices for budget travelers who are able to live the local life by paying only US$20 a day or less for food, lodging and sightseeing.
Hanoi has been ranked second and the southern city third. The list cited results from the Price of Travel’s Index, which compared prices in 31 Asian cities.
Estonia in northern Europe tops Lonely Planet's budget list , which also includes New Mexico, Quebec and Western Australia.
TripAdvisor earlier this year suggested Hanoi as the most affordable international destination in its annual TripIndex report, which looked into 60 key tourist cities around the world.
The leading travel review site said travelers on a budget should consider Hanoi where a three night-stay only costs around $732 a couple or $366 a person.
Lonely Planet is one of the most reliable travel guide books in the world and listing of Hanoi and HCM City also emphasises Vietnam’s strong position in the global tourism market.