Consumption rise uncertain until general recovery appears
According to a report released by Infocus Mekong Research last week, consumer confidence has dropped somewhat in the past 12 months, fuelled by the real estate bubble burst, reduced exports, increased unemployment, reduced wages, and inflation.
The biggest concerns for consumers in 2024 are inflation, unemployment, and Vietnam’s economic slowdown, followed by pollution. New fears include global economic slowdown and bankruptcy. It is worth noting that all concerns seem to be increasing compared to a year ago.