Vietnam is one of the Rising Middle Class countries in Asia with a strong increase in purchasing power. Even though the global middle class is a relatively low income segment – as compared with Swiss income standards – this fast growing consumer segment is expected to accelerate globalisation and bring it to the next level. In the last years a significant portion of production has been moved to Asia; now, the shift in consumption is expected to follow. With 66% of the middle class living in Asia by 2030, this shift in consumption will also influence the Swiss economy and offer opportunities. Also see our market study and infographic on Rising Middle Class.
The students sharing their insights are taking part in the Asian Culture Transfer (ACT) program, which is an intercultural exchange project of the Student Union at the University of St. Gallen (HSG). The focus of this exchange is on economy, politics, and culture.
We are pleased to share with you during the next week how this motivated group of students is experiencing Vietnam, its business practices and opportunities for Swiss companies.
Follow their trip on Twitter: #tripvn
All articles will be available in the dossier: Business in Vietnam - a Student Perspective