Excessive-end manufacturers seeking to spend money on Vietnam | Enterprise

High-end brands looking to invest in Vietnam hinh anh 1Excessive-end manufacturers look to spend money on Vietnam. -Illustrative picture (Picture: VNA)

Hanoi (VNA) – Income within the luxurious
items market in Vietnam will quantity to 957.2 million USD in 2023, and develop
yearly by 3.23% within the 2023-2028 interval, in keeping with Statista, a statistics portal for market

Growing client demand is claimed to be a motivation for a lot of manufacturers to pour their funding in Vietnam. Luxurious manufacturers
like Dior, Louis Vuitton, Tiffany & Co., and Berluti have opened retailers in
Hanoi – the place the variety of manufacturers will not be large however the demand is growing, Statista

Dieu Trang, Senior Leasing Supervisor for Savills Vietnam in Hanoi, stated the capital is about to welcome luxurious inns comparable to 4
Seasons, Fairmont, Waldorf Astoria or Ritz Carton, that are anticipated to create
a brand new luxurious buying advanced within the metropolis, thus attracting many
high-end manufacturers to affix the potential market.

In keeping with Nick
Bradstreet, Head of Asia Pacific Retail at Savills, Vietnam is seen as one in every of
the distinguished markets for luxurious manufacturers together with Singapore and Thailand.

High-end brands looking to invest in Vietnam hinh anh 2Hanoi is about to welcome luxurious inns. – Illustrative picture (Picture: VNA)  

economic system is forecast to develop by 6.3% in 2023 regardless of the worldwide tough
state of affairs, in keeping with a report by the World Financial institution.

Beneath the nationwide grasp
plan for 2021 – 2030, Vietnam is focusing on an annual common GDP development of seven%
in the course of the interval.

By 2050, GDP per capita at present costs will attain about
27,000 –32,000 USD.

Information from
the Normal Statistics Workplace present that home consumption has steadily rebounded
with the nation’s whole income from retail gross sales of products and providers within the final 4 months, growing by
26.7% in comparison with the identical interval of 2019 – the time earlier than the outbreak of COVID-19./.


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