Top Reasons to Exhibit
Tap on a huge consumer market with Vietnam’s positive demographics
Blessed with a growing young population, low old-age and youth-dependency ratio of 1:3, Vietnam’s workforce population is estimated to grow over 15% over the next 20 years, compared to China’s -2% over the same period (Source: Citigroup Global Markets, UN Population Division).
Rising incomes in Vietnam, increased purchasing power
In the urban centers of Hanoi and Ho Chi Minh City, incomes are over twice that of the national average. In 2011, the national average income was close to USD1,300 per year, but was USD2,700 in Hanoi and USD3,600 in Ho Chi Minh City (Source: Doing Business in Vietnam: 2013 Country Commercial Guide for U.S. Companies). In addition, Business Monitor International estimates that private consumption will jump from US$80.5 billion to US$250 billion (2011 – 2020).
Vietnam’s consumerism trend – a strong lure for foreign companies
This growing youthful middle class in Vietnam is driving demand for a higher quality of living and are increasingly seeking foreign brands, unavailable to their parent’s generation, which are often associated with prestige and reliability.
Bright growth prospects for business opportunities & franchising!
Popular options of penetrating the consumer market segment include:
- The franchising model –as trading and retail licenses can be hard to obtain
- Joint ventures – as local firms in the consumer space are increasing becoming more receptive towards value-enhancing investors
Discover your next business opportunity. Meet your ideal franchisee. Exhibit today!