5 REASONS WHY VIETNAM IS RIPE FOR INNOVATION

 

 

 

A young, mobile and internet savvy population

A nation where e-commerce is taking off

A growing middle class with disposable income

Rapid growth in payments infrastructure & uptake

Educated population with increasingly international outlook

 

94m

Population

 

30.8

Average age

 

33.6%

Urban population

 

52%

Active internet users

 

24.6m

Smartphone users

 

35m

Active social media users

 

21%

e-commerce revenue growth in 2016

 

US$1,820m

Total e-commerce revenue in 2016

 

47.8%

User penetration rate of e-commerce

 

25hrs

Per week average internet user

US$153b

Total consumer expenditure in 2016

 

11%

Increase total personal disposable income 2016

 

US$96.9b

Retail sales in 2016

36,000%

Increase in card issuance from 2005-15

 

40+

commercial banks issuing cards to consumers & businesses

 

US$12.3b

Total value of non-cash payment in 2015

 

90%

Transactions remain cash based

 

31%

Population with access to formal financial services

 

1.9%

Population have credit card access

 

48%

Of population with a post-high school qualification

 

73%

High school students learn English

 

US$150b

Vietnamese exports in 2016

 

6.7%

Growth in international trade in 2016

 

 

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GET READY TO GO SEAMLESS IN 2017

If you want to do business in the Vietnamese payments, e-commerce or retail space, now is the time! We can help.
Contact
Audrey Leong at 65) 6322 2786 or email audrey.leong@terrapinn.com

 

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