Southeast Asia Information Port (www.dnyxxg.com) – According to the ASEAN Consumer Confidence Study (ACSS) released by United Overseas Bank (UOB) on the afternoon of November 20th, Vietnam's Consumer Confidence Index reached 67 points, ranking first and significantly higher than the region's average of 54 points, representing a 3-point increase compared to last year. This reflects the continued rise in Vietnamese consumers' confidence in the national economy and their personal financial prospects.
UOB's ASEAN Consumer Confidence Index uses six indices to measure consumers' views on current and future economic conditions and their personal financial situations.
At the macro level, over 80% of Vietnamese respondents are optimistic about the national economic situation, a 12-percentage-point increase compared to 2024. This confidence is attributed to the impressive macroeconomic growth expected in the first half of 2025, with GDP growing by 7.52% year-on-year – the highest level for the same period since 2011.
Vietnamese consumers demonstrate stronger confidence in the country's political, economic, and social stability than other countries in the region. This optimism persists despite global uncertainties, including the US tariff policy announced on April 2, 2025. Stable market prices and continued strong foreign direct investment (FDI) have further solidified the positive outlook. Following Vietnam's third-quarter economic growth of 8.23%, UOB revised its 2025 GDP growth forecast for Vietnam upward from 7.5% to 7.7% in its economic forecast released last month.
Vietnamese consumers' confidence in the macroeconomic environment has translated into optimistic expectations for their personal finances. Over 70% of respondents expect their financial situation to improve next year.
UOB research shows that climate change, natural disasters, and pollution have become the top concerns for 66% of respondents, surpassing economic factors such as US tariffs (59%). This shift is reshaping consumer behavior, with one in three Vietnamese consumers willing to pay higher prices for environmentally friendly products, 11 percentage points higher than the regional average.
In addition to environmental awareness, a sense of financial security is also driving increased spending in several key areas in 2025. A study of ASEAN consumer confidence revealed that 67% of Vietnamese consumers increased their spending on education, healthcare, and fitness, exceeding daily expenses such as utilities, transportation, and food (53%).
More than half of Vietnamese consumers reported increased spending on experiential and high-end projects, indicating a growing demand for lifestyle upgrades. Eighty percent of consumers considered experiences such as entertainment, fine dining, and vacation travel as an indispensable part of their lives.
Regarding these findings, Paul Kim, Head of Personal Financial Services at UOB Vietnam, stated that the stable consumer confidence index reflects increasing optimism regarding the macroeconomic environment and personal finances. Despite global challenges, Vietnam demonstrates solid fundamentals and effective policy guidance. This momentum is driving consumer spending growth and prompting greater attention to financial planning.
The UOB ASEAN Consumer Confidence Study surveyed 5,000 respondents aged 18 to 65 in Indonesia, Malaysia, Singapore, Thailand, and Vietnam. The survey will be conducted online from May to June 2025, in collaboration with the Boston Consulting Group. (End)
