This trend is expected to continue steadily in 2024 with international tours by many renowned artists such as Coldplay and Taylor Swift.
Visa, a leading global electronic payment company, recently released a quarterly report focusing on consumer sentiment in the financial services, commerce, travel, and various other sectors.
Data from the report over the past 12 months shows that Vietnamese consumers rank second in the Asia-Pacific region (41%) in terms of frequency of attending artistic performances both domestically and internationally. India leads this list (45%), followed by Indonesia in third place (40%).
Notably, 40% of Vietnamese consumers travel abroad for the purpose of attending performances, with Thailand and South Korea being the top destinations for these enthusiastic fans.
Visa notes that the post-pandemic period marks a resurgence of live performance programs, leading to a rapid increase in tourist numbers combining event attendance. This trend is expected to continue steadily in 2024 with international tours by many renowned artists such as Coldplay and Taylor Swift.
Live music performances are recorded as becoming the most popular type of event, followed by music/concerts and sports events.
The report also indicates that Vietnamese consumers maintain a positive mindset. Four out of ten consumers in the Asia-Pacific region believe that the domestic economic situation will improve in the next year.
Specifically, 75% of Vietnamese consumers continue to maintain an optimistic outlook on the domestic economic prospects, significantly higher than consumers in Indonesia (64%) and the Philippines (50%). Almost half (47%) of surveyed consumers in the region also believe that now is the best time to shop for high-value household items such as furniture, appliances, and electronics. This figure is even higher for Vietnamese consumers, reaching 59%.
Despite the intention to spend more, the majority of consumers express a desire to allocate a larger budget for savings. In Vietnam, 43% of surveyed users expect to save more personal funds, a rate higher than the regional average of 36%.
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Source: Vietnam Insider