Pandemic lowers incomes of 90% of Vietnamese
The COVID-19 pandemic has reduced the incomes of 90% of Vietnamese, forcing many to cut spending, a survey has found.
People shop in a supermarket in District 1, Ho Chi Minh City on March 31, 2020. Photo by VnExpress/Thanh Nguyen.
Half of 500 respondents polled said their income had dropped by over 20%, the survey by French market research company Ipsos released Friday said. Most of them were unskilled laborers.
Seventeen of percent of respondents with low incomes – of under VND7.5 million (US$323) a month – said their family had to cut down on spending on tourism, eating out, clothes, and electronics.
30% reduced their frequency of shopping at supermarkets and moved online.
Two thirds of respondents expected their income to improve in the near future since Vietnam has contained the virus and gone over three months without community transmission.
Only 12% expected incomes to fall further in the coming months.
Data from the General Statistics Office shows that 31 million people lost their jobs or saw their income drop due to the pandemic, with the latter affecting 57.3%.
The country’s average income fell by 10.2% in the second quarter to VND5.2 million (US$224), it said.
