Is Vietnam tech savvy?

Vietnam is a country that has made remarkable progress over the past few decades.

Vietnam’s digital economy has experienced rapid growth and success in recent years, making it one of the emerging leaders in the Southeast Asian region. With a population of over 96 million people and a young, tech-savvy workforce, Vietnam has become an attractive destination for digital businesses and investors.

Is Vietnam tech savvy

  • Once a war-torn nation, it has transformed into a dynamic and fast-growing economy.
  • However, its technological advancements are what make it stand out in the world. Vietnam’s digital economy has experienced rapid growth and success in recent years, making it one of the emerging leaders in the Southeast Asian region.
  • With a young, tech-savvy workforce and a population of over 96 million people, Vietnam has become a popular destination for digital businesses and investors.

The reasons behind Vietnam’s tech-savviness are numerous.

  • Its population plays a significant role, as Vietnam has a large, young, and educated population with a high literacy rate of over 98% for people aged 15 to 35.
  • Approximately 70% of the population uses smartphones, and over 60% are active internet users.
  • Vietnam also has a strong culture of innovation and entrepreneurship, with many young people eager to learn new skills and create new solutions.
  • Moreover, Vietnam’s talent pool is impressive as it has a high number of engineers and programmers who are skilled, proficient, and fluent in English.

Vietnam ranks second in the world for the number of software developers, with over 400,000 professionals.

  • Additionally, Vietnam ranks among the top 10 countries globally for the quality of software outsourcing services, according to the Global Services Location Index.
  • Global giants such as Samsung, Intel, IBM, Microsoft, and LG have set up their research and development centers in Vietnam, making the country’s tech talent highly sought after.
  • Another factor contributing to Vietnam’s tech-savviness is its digital economy, which has been one of the fastest-growing and most successful in Southeast Asia.

From 2015 to 2020, Vietnam experienced an average annual growth rate of 40%, and its digital economy is expected to reach $52 billion by 2025, accounting for 20% of its GDP.

  • E-commerce, online travel, online media, and digital financial services are the four main sectors driving Vietnam’s digital economy.
  • E-commerce is the largest and most dynamic sector, with a market size of $11.8 billion in 2020, and a projected growth rate of 29% per year until 2025.
  • Local players such as Tiki, Sendo, and Shopee dominate Vietnam’s e-commerce market, competing with regional and global platforms such as Lazada, Amazon, and Alibaba.
  • Online travel is the second-largest sector, with a market size of $7.9 billion in 2020, and a projected growth rate of 25% per year until 2025.
  • Local players such as Vntrip, Chudu24, and Gotadi offer online booking services for hotels, flights, tours, and activities.

Online media is the third-largest sector, with a market size of $4.1 billion in 2020, and a projected growth rate of 18% per year until 2025.

  • Vietnam’s online media market is composed of online advertising, online gaming, online music, and online video.
  • The growing internet usage, social media engagement, and the increasing disposable income and travel demand are the driving forces behind the success of Vietnam’s digital economy.
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