Consumer spending in Vietnam to see ‘solid growth’ in 2023
Spending is expected to increase by 7.3% year-on-year.
A “solid growth” is expected in Vietnam’s consumer spending with real household spending projected to increase by 7.3% year-on-year, Fitch Solutions reported.
This is a slight drop from the estimated 7.5% growth in 2022.
“The growth in consumer spending growth over 2023 will come as the wider Vietnamese economy recovers and growth figures return to a more stable and medium-term trajectory,” the report read in part.
“This is supported both by growing domestic demand, as well as the expected recovery of international tourism.”
Fitch added that the growth forecast in the real income of Vietnamese consumers will likely boost household spending growth amidst an accelerating inflation rate.