growth of middle income population One of the racers had lived her dream, going abroad to study for several months. In the Philippines, these households have monthly incomes exceeding $465, in Thailand $442, and in Vietnam $660. "However, in a communist state where GDP per capita hovers around a paltry 400 dollars a year, the contrasting lifestyles enjoyed by those inside the multi-levelled club and those on the outside are extreme. [Source: Kate McGeown, BBC, November 27, 2006], Brian Gomez wrote in The National: "Although North and South Vietnam were unified under the communist regime in 1976, the countrys rapid social and economic transformation began a decade later when the government introduced its Doi Moi programme or change to new or reforms. It will take many years. ), How long individuals have been part of the mass-affluent class influences them more than their country of origin does. So these consumers are relevant not only for luxury brands, such as Chanel and Diageo, but also for companies such as Johnson & Johnson, P&G, Heineken, and adidas. The poverty and equity agenda is no longer only about raising minimum living standards and tackling chronic poverty; it is also about creating new and sustainable economic pathways for a more aspirational population. Its so small that it cant even hold my mobile, she said. The country is expected to achieve by 2015 most of the ambitious Millennium Development Goals set by the United Nations. :/, Reporting from Dalat, Stanley Karnow wrote in Smithsonian magazine, Peasants labored in paddy fields, protected at intervals by gleaming white statues of Phat Ba Quan Am, a Buddhist goddess of compassion. [Source: Hoang Uy, Tuoi Tre, September 18, 2007], Reporting from Ho Chi Minh City, Ben Stocking wrote in the Mercury News, "Wealthy young rebels without a cause, they ran wild in the streets, racing $50,000 luxury cars down the boulevards of old Saigon. These consumers also tend to be concentrated in key city clusters. And when he and his friends were pulled over for drag racing, 21-year-old Nguyen Quoc Cuong proved true to his nickname. "Tram, tram, tram, tram!'' With 23.2 million people joining the demographic by 2030, Vietnam is ranked seventh among nine nations with fastest growing middle class populations in the coming decade. WebRICH, POOR AND MIDDLE CLASS IN VIETNAM DISPARITY OF INCOME IN VIETNAM Vietnam remains a poor country, with most people earning about $1,500 a year, but it has made tremendous strides since opening its doors up to capitalism in the mid-1980s. Other major crops are sugarcane, cassava (manioc), corn (maize), sweet potatoes, nuts, banana, coconut, mango, jackfruit, citrus, coffee and tea. They are willing to pay premium prices to get quality, and they assert their individuality, spending more for a brand that reflects their values and aligns with their self-perception. His wife, Thuy, is a teacher; together they earn $14,000 annuallya staggering sum compared with the Vietnamese average of about $500. Seventy-three percent said that they like to buy products online and physically pick them up in stores. The roar of engines and blaring stereos awoke Nguyen Van Quang, who sleeps inside the tiny bar where he works. Today, these individuals constitute up to only 10% of the population in the regions biggest economies, but by 2030, the ranks of the mass affluent are expected to reach 136 million and represent 21% of the population. ^^, "The group said it had been unable to visit detention centers commonly off limits to UN groups and journalists but that interviews with former inmates had painted a harsh picture that breached global child protection standards.
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