Vietnamese spend more on traveling in 2017: survey

Vietnamese people were increasingly willing to take a vacation after covering the expenses on basic necessities last year, according to a consumer confidence survey by Nielsen, a global market information company. The research revealed that during the third quarter of 2017, on condition that the payment of essential living costs had been made, more than two out of five people (or 44 percent) in Vietnam showed an inclination to spend their earnings on vacations. Compared to the preceding quarter, the spending represented a six-percent increase. The category of travel did not appear in Vietnamese consumers’ saving strategies, which included reducing the money on out-of-home entertainment, new clothes, utilities, take-away meals, and technological device upgrading. The absence is noteworthy, as the trend for Vietnamese people to make savings for the future was onward, with 63 percent and 66 percent of the consumers surveyed doing this last year during the second and third quarter. The spare cash was also intended for various purposes such as household improvement, new clothes, and new technological products. In addition, about 28 percent of the respondents chose to use the money for insurance premiums. This pattern suggests that the Vietnamese desire an improvement of quality of life, and they have actually established a solid foundation for its realization in recent times, said Nguyen Huong Quynh, managing director of the Nielsen business in Vietnam. No official figures on the vacation activity by Vietnamese people have been published yet, but increased income and the popularity of social media may… [Read full story]

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