CONTINUOUS HIGH ECONOMIC GROWTH AND BRIGHT OUTLOOK
Vietnam among fastest-growing economies in Asia in 2017, at 6.81% GDP growth, a record high since 2011. Wholesale and retail sales are up by 8.36% compared to the previous year.
GOVERNMENT AWARENESS TOWARDS AN ALTERNATIVE TO OVER-RELIANCE ON MOTORBIKES AND INVESTMENT ON PUBLIC TRANSPORT
Vietnam government plans to ban motorbikes in 2030 and currently building the MRT system in both Hanoi and Ho Chi Minh city to address traffic congestion problems. Once MRT system operates, it will create a surge in bicycle market.
EMERGING VIETNAM MIDDLE CLASS
The fast economic growth leads to a strong emergence of Vietnamese middle class (35m in 2017 – Nielsen) who drives strong consumption and increasing health consciousness.
STRONG MOMENTUM ON ENDURANCE SPORT TREND
– Last 2 years have seen a lot of International EDM (Electronic Dance Music) festivals usually combined with/and Endurance Sport events across the country
– Ironman Triathlon by Sunríse in 2017 attracted 1200 participants (450 are Vietnamese) and 1600 in 2018 (up from 600 in 2016).