Vietnam’s consumer confidence in the first quarter of 2018 rose nine points compared to the last quarter of 2017, to its highest level in 10 years. The positivity about the state of personal finances and local job prospects has helped Vietnam emerge as the fourth most optimistic country in the world in Q1 of 2018. Consumer confidence was measured through the Conference Board Global Consumer Confidence Survey in collaboration with Nielsen.
Regional comparison
Historically, consumer confidence in Southeast Asian countries continues to be higher than in mature economies. Consumer confidence in the region rose from 119 points in Q4 of 2017 to 121 in Q1 of 2018. In Q1 of 2018, India led the overall rankings, followed by the Philippines, Indonesia, and Vietnam.
Thailand, Malaysia, and Singapore ranked eighth, 10th, and 25th respectively in the global rankings. Vietnam and Malaysia featured among the top five nations with the highest growth in consumer confidence.
The reason for the rise in consumer confidence in the region is largely attributed to the economic growth, with major economies growing between five and seven percent in the last year. In addition, the rise in FDI and disposable income have also helped boost confidence.
Read the full article for free on Vietnam Briefing.