HSBC: Middle class growing rapidly

According to HSBC, about 48 million Vietnamese, or nearly half of the population, will earn over $20 a day by 2030. The upper middle class (those with incomes between $50 and 110 a day) is expected to grow by an average of 17 per cent each year in the 2021-2030 period. Vietnam’s annual spending growth is therefore forecast at nearly 8 per cent this decade.