Vietnam's middle-class set to increase by 2020

Through investigation on income of people in five major cities in five nations in Asia, Hakuhodo Institute of Life and Living ASEAN yesterday in Ho Chi Minh City concluded that 55 percent of families in Vietnam belong to middle class.

As per the Hakuhodo institute’s studies, the rates of middle class people in Thailand, Indonesia, Malaysia and Singapore are 72 percent, 56 percent, 46 percent and 45 percent respectively.

Sustained good GDP growth has created a new middle-class group in Asia with 300 million by 2020, according to research newly released by Hakuhodo institute.

Furthermore, a large of number of people belongs to middle class, based on their income, because they are paid more by doing part-time jobs and laying up for the future. The proportion of middle class people in the future therefore in Vietnam, Singapore, Thai, Malaysia and Indonesia will be 96 percent, 85 percent, 80 percent, 79 percent and 72 percent respectively.

By Cong Phien – Translated by Anh Quan

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