In this post, I use data points from the Google, Temasek and Bain & Company 2019 e-Conomy report , eMarketer, PWC, and a few other sources.
First of all, the Google Temasek report only covers data for e-commerce, online media (gaming, online advertising, streaming services), online travel and ride-hailing. Google and Temasek said that due to the lack of reliable data, they couldn’t cover social commerce (which is huge in Vietnam), fintech, healthcare, or education.
1. Total Vietnam internet economy reaches about $12B in 2019, expected to grow by 3.5 times in 5 years
By 2025, the internet economy in Vietnam is forecasted to hit $43B, ranks third in Southeast Asia, behind Indonesia ($133B) and Thailand ($50B).
2. Online travel contributed the most to Vietnam internet economy in 2018
By 2025, e-commerce in Vietnam is expected to grow by more than 5 times, becoming the largest contributor to the internet economy.
If you want to read more about Vietnam e-commerce, check out this post “Vietnam e-commerce key facts and trends” from me.
3. VNG is the only Vietnamese unicorn amongst a total of 11 unicorns in Southeast Asia
Indonesia (6 unicorns): Bukalapak, GoJek, Tokopedia, Traveloka,
Regional (3 unicorns): Lazada, Grab, SEA
4. Vietnam internet economy is powered by 56 millions internet users, 90% of whom use smartphones
Data points are from eMarketer, highlighted in my post here.
5. Mobile internet data in Vietnam is getting cheaper year on year
6. Vietnamese startup attracted $350M funding in 2018
7. 61% of internet users in Vietnam use mobile payment in 2019
This is up from 37% in 2018. It shows enormous progress and investment from mobile payment solution providers in Vietnam. Data is from PWC Global Consumer Insights Survey 2019.
That’s all from me for today. Feel free to leave any comments/questions below.