Approximately 17% of Vietnam’s population can be considered wealthy.
Approximately 17% of Vietnam’s population can be considered wealthy. This percentage represents individuals who have acquired a significant amount of wealth, exceeding the average population’s financial status. While it is important to note that the definition of wealth can vary, this statistic provides a general understanding of the country’s affluent population.
To further delve into the topic, let’s explore some interesting facts about Vietnam’s wealth distribution:
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Income Disparity: Vietnam has been experiencing a significant gap between the rich and poor, with wealth accumulating predominantly in urban areas. The concentration of wealth in certain regions has led to economic disparities across the country.
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Emerging Middle Class: Vietnam has seen a rise in its middle class population over the past decade, driven by economic growth and urbanization. This expanding middle class has contributed to the overall increase in the percentage of wealthy individuals.
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Real Estate Boom: The real estate sector has played a crucial role in wealth accumulation in Vietnam. The country has experienced a rapid increase in property prices, particularly in major cities like Hanoi and Ho Chi Minh City, propelling individuals into the wealthy category.
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Entrepreneurship and Startups: Vietnam has witnessed a vibrant startup ecosystem and a wave of entrepreneurial activity in recent years. This has created opportunities for wealth creation, especially among tech-savvy individuals who have successfully ventured into the digital economy.
Now, let’s present a table showcasing the wealth distribution across different regions in Vietnam:
| Region | Wealthy Population (%) |
| Ho Chi Minh City | 20 |
| Hanoi | 18 |
| Da Nang | 15 |
| Other Urban Areas | 12 |
| Rural Areas | 5 |
These figures provide an overview of the regional distribution of wealth in Vietnam, showcasing the higher concentration of wealthy individuals in major urban centers like Ho Chi Minh City and Hanoi.
To quote the American entrepreneur and philanthropist, Andrew Carnegie:
“The man who dies rich, dies disgraced.”
This quote reminds us of the importance of utilizing wealth for the greater good and making a positive impact on society, irrespective of the percentage of wealthy individuals in a population.
Answer in the video
In this section of the YouTube video, the narrator explores the Thao Dien area in Ho Chi Minh City, Vietnam. The neighborhood is known for its affluent expat community and offers a vibrant and trendy atmosphere. The narrator highlights the luxurious villas, amenities such as gyms and international schools, and mentions the high prices of services compared to the US. He also discusses Vietnam’s growing GDP and manufacturing sector. The video ends with the narrator recommending a popular pizza restaurant and showcasing the luxury and development in the waterfront area near Thao Dien.
Many additional responses to your query
The Vietnamese government is committed to "market-oriented socialism with Vietnamese characteristics" but sensitive about the growing gap between rich and poor. By its own estimates, the most affluent 20 percent of the population is seven times better off than the poorest two percent.
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Also Know, How many percent are rich in Vietnam? Answer to this: According to data collected from the World Inequality Database, in 2021, top 5% of the richest people in Vietnam account for 46.9% of the country’s wealth, while top 10% of the richest people in Vietnam account for 59%. In contrast, the poorest 50% hold only 5.6% of the wealth.
How many people in Vietnam are millionaires?
Countries by number and percentage of millionaires
| Country or subnational area | Number of millionaires | Share of global millionaires (%) |
|---|---|---|
| Czech Republic * | 68,000 | 0.1 |
| Chile * | 66,000 | 0.1 |
| Vietnam | 49,000 | 0.1 |
| Colombia * | 39,000 | 0.1 |
Herein, Is Vietnam considered rich or poor? The economy of Vietnam is a developing mixed socialist-oriented market economy, which is the 36th-largest in the world as measured by nominal gross domestic product (GDP) and 26th-largest in the world as measured by purchasing power parity (PPP) in 2022.
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What is the 1% in Vietnam?
An individual in Vietnam now needs a net wealth of $160,000 to join the so-called ‘1 percent club’ of the richest people in the country of 98 million. There were 19,491 people with a net worth of $1-30 million last year, down 6 percent from 2019. This number is projected to reach 25,812 in 2025.
Hereof, How rich is Vietnam? The number of Vietnam’s extremely rich will experience the world’s third fastest increase in the next five years, at 64 percent, Knight Frank reports. Vietnam had 458 people with a net worth of above $30 million in 2019, up 7 percent from a year ago, according to global property consultant Knight Frank’s Wealth Report 2020 released this week.
How many ultra-high net worth people are there in Vietnam? It says Vietnam is expected to have 1,551 ultra-high net worth individuals (UHNWIs) by 2026, compared to 1,234 last year. The company also predicts that the number of rich people, or those with a net worth of $1 million or more, including their primary residence, will rise sharply by more than 59 percent from last year to 114,807 in 2026.
Accordingly, Does Vietnam have income inequality? Answer: Income inequality occurs in most countries around the world, including Vietnam. In the period 2016-2020, Vietnam’s economy grew at an average rate of 6.78% in the period 2016-2019 and 2020 due to the impact of the covid-19 pandemic negatively affecting the economic sectors.
Regarding this, What percentage of Vietnam’s economy is private capital? Response will be: The report says private capital will be predominately directed toward offices (43 percent), followed by industrial and logistics sectors (17 percent), and the residential segment (16 percent). Tags: Vietnam rich people Vietnam rich wealth report Knight Frank
Then, How rich is Vietnam? Response: The number of Vietnam’s extremely rich will experience the world’s third fastest increase in the next five years, at 64 percent, Knight Frank reports. Vietnam had 458 people with a net worth of above $30 million in 2019, up 7 percent from a year ago, according to global property consultant Knight Frank’s Wealth Report 2020 released this week.
Does Vietnam have income inequality? Answer to this: Income inequality occurs in most countries around the world, including Vietnam. In the period 2016-2020, Vietnam’s economy grew at an average rate of 6.78% in the period 2016-2019 and 2020 due to the impact of the covid-19 pandemic negatively affecting the economic sectors.
Beside this, How resilient is Vietnam’s economy? Answer will be: Thanks to its solid foundations, the economy has proven resilient through different crises. GDP growth is projected to ease to 6.3 percent in 2023, down from 8% in 2022, due to the moderation of domestic demand and exports. Vietnam’s economic growth is expected to rebound to 6.5 percent in 2024 as domestic inflation could subside from 2024 onward.
Regarding this, What percentage of Vietnam’s economy is private capital?
Response: The report says private capital will be predominately directed toward offices (43 percent), followed by industrial and logistics sectors (17 percent), and the residential segment (16 percent). Tags: Vietnam rich people Vietnam rich wealth report Knight Frank