Vietnam among most optimistic countries despite pandemic

By Dat Nguyen   May 14, 2020 | 09:14 pm PT
Vietnam among most optimistic countries despite pandemic
People shop at a supermarket in District 9, Ho Chi Minh City on March 26, 2020. Photo by VnExpress/Quynh Tran.
Vietnam ranked fourth in the world in the first quarter of this year for having the most positive consumers despite adverse coronavirus impacts.

With a Consumer Confidence Index of 126 percentage points, up one point from the previous quarter, Vietnam maintained its position behind India, the Philippines and Indonesia, according to a Global Consumer Confidence Survey by market research company Nielsen.

The global average index was 106 percentage points, and a reading above 100 is considered positive.

Health remained the top concern among the Vietnamese, cited as such by 49 percent of the respondents, up four percentage points quarter-on-quarter. This was the highest ratio globally.

There were rising concerns about job security, which came second with 40 percent, up three percentage points quarter-on-quarter.

"With people increasingly aware of the impact of the Covid-19 pandemic on jobs, even part way through quarter one, their spending intentions reflected this uncertainty," said Louise Hawley, managing director of Nielsen Vietnam.

Vietnamese people spent less of their spare cash on new clothes, and out of home entertainment, both down nine percentage points quarter-on-quarter, and tech products, down six percentage points.

Savings remained the top spending category as in previous quarters.

The pandemic has slashed consumer spending as more people spent more time at home, avoiding entertainment venues like cinemas, bars and restaurants and any form of travel, Hawley said.

Vietnam’s Covid-19 tally jumped to 312 Friday morning after 24 citizens repatriated from Russia were confirmed positive. Friday morning marked 29 days straight that Vietnam has gone without any cases caused by community transmission.

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