The recovery in domestic demand and foreign direct investment (FDI) in the country has resulted in its gross domestic product (GDP) expanding by 6.4% in the second quarter of 2015 from a year earlier, according to figures from the country's statistics office.
Vietnam's urban population accounts for 33% of the country's total population of 91 million, PRWeek Asia said.
The country's GDP per capita is estimated to be US$2,052 per year, the unemployment rate is 2% and life expectancy is 76.
The facts indicate rising consumption and living standards in Vietnam.
|Almost half of the population is under 25, and young people in Viet Nam are finding new ways to access news, PRWeek Asia said. (Source: motthegioi)
Almost half of its population is under 25, and young people in Vietnam are finding new ways to access news, PRWeek Asia said.
The findings show that youth are increasingly turning to platforms such as Facebook and Google for their daily news fix at the expense of the previously dominant state media and television stations.
The growing influence of social media means that people are spending less time on traditional media channels such as television, radio and magazines. Between 2010 and 2014, for example, the daily average time spent watching TV decreased from 134 minutes to 108 minutes, while the average time spent on the Internet increased from 84 minutes to 310 minutes a day.
The Vietnamese people are also increasingly relying on mobile phones to access the Internet.
Simon Kemp, Asian regional managing partner at We Are Social agency, said one of the keys to growing digital trends in Vietnam is the use of mobile-oriented chat apps.
"In Vietnam, 87% of the social media users access it via mobile devices, which indicates that more people are mobile-only than PC-only," he said.
These day-to-day conversations have moved to the chat apps.
Findings from the Digital, Social and Mobile in APAC 2015 report, conducted by We Are Social in association with IAB Singapore, showed that Facebook Messenger and Viber are two platforms with a relatively strong presence in Vietnam.