The study introduced the new UOB ASEAN Consumer Sentiment Index, on which Vietnam scored 67, well above the regional average of 54 and up three points from last year. This reflects sustained confidence among Vietnamese consumers in both the national economy and their personal financial prospects.

The Index is based on six key indicators measuring perceptions of current and future economic conditions and personal financial well-being. On the macroeconomic front, over eight in ten Vietnamese respondents expressed optimism about the country’s broader economic outlook, with the sub-index rising 12 percentage points from 2024. This confidence is supported by Vietnam’s robust macroeconomic performance in the first half of 2025, including a GDP growth of 7.52% year on year, marking the highest first-half growth since 2011.

Outpacing their regional peers, Vietnamese consumers show strong confidence in the country’s political, economic and social stability. This optimism has persisted despite global uncertainties, including the US tariff announcement on April 2, 2025. Stable commodity prices and sustained foreign direct investment (FDI) inflows have further bolstered sentiment. UOB’s latest economic forecast, released last month, revised Vietnam’s full-year GDP growth to 7.7 %, up from 7.5 %, following a strong third-quarter performance of 8.23 %.

UOB experts pointed out that confidence in the macroeconomic environment has translated into optimism in personal finances among Vietnamese consumers. More than 70 % of respondents expect their financial situation to improve in the coming year. Concerns over rising household expenses have eased compared to last year, with a three percentage-point drop to 50 %, and a notable 12 percentage-point decline among Gen Z respondents. However, Vietnamese consumers remain concerned over income stability and long-term financial commitments, particularly among Gen Y consumers.

Paul Kim, Head of Personal Financial Services, UOB Vietnam, said “We are encouraged by the continued resilience in Vietnam’s consumer sentiments, reflecting consumers’ growing optimism in both the macroenvironment and personal finances. Despite global headwinds, Vietnam has demonstrated strong fundamentals and effective policy direction. This momentum is driving increased consumer spending and a greater focus on financial planning. UOB is committed to supporting this shift by enhancing our suite of financial solutions and delivering unique experiences that meet the evolving aspirations of Vietnamese consumers.”

Positive outlook for consumer spending in Vietnam through 2025–26: BMI

Consumer spending in Vietnam is expected to grow strongly over the next two years, supported by robust economic growth, higher disposable incomes and a solid labour market, according to the latest forecast from BMI, a Fitch Solutions company.