The global esports market size is over 2.4 billion USD, which showcases the growth and vastness of the esports market. That way, it has recently influenced the rise of the Vietnamese Esports scene. Slowly, with the development of passionate fans and the support of the government and private sector, the Vietnamese sports scene is on rapid growth.
Furthermore, with 85% of the Vietnamese population under 25, there’s a vibrant and dynamic foundation for the esports culture to thrive. Among these developments, asiabettingsite.com offers insights and opportunities related to the burgeoning esports industry in Vietnam. Let’s learn more about this in the next section.
Highest Percentage Of Gamers
As discussed earlier, Vietnam has a young population, leading to the rise of gamers in the country. The transition from cafes to the mainstream has been smooth. More than 85% of the young population plays esports. Furthermore, they are generating revenues of over 500 million USD, and in the coming years, it will reach over 1 billion USD.
That way, it is becoming an area of economic development for Vietnam. Additionally, the Vietnam Recreational & Electronic Sport Association (VIRESA) is looking to set rules to make esports an institution in Vietnam. Also, it has opened doors for content producers, YouTubers, and media outlets to organize tournaments – thus expanding the Vietnamese esports market.
Passionate Fans
What is sports without fans? Similarly, young fans have a hand in the rise of esports in Vietnam. Both young boys and girls are participating in the esports tournament, supporting the top players of esports. Furthermore, more than 44% of young Vietnamese play esports every day. That’s why it has become a top phenomenon in the country. In addition, fans are slowly breaking the stigma and taboo of esports and making a space for future stars to grow and make a brand of themselves.
Moreover, young men and women take sports seriously and see them as a form of career and growth. Mostly, Vietnamese esports teams are winning Asian tournaments, which has increased the support for the rise of esports in Vietnam. Slowly, the fans are getting into the esports arena and becoming a part of it. Furthermore, there are over 18 million esports players in Vietnam, and its hold in the Vietnamese market is gradually increasing.
Support From Government And Private Industries
Another thing that is quite visible for the rapid rise of the Vietnamese esports scene is the great support from the government and private sectors. The government is slowly getting into the esports scene after the growing interest from fans and players. Furthermore, it gives opportunities for the private sector to invest in the esports industry and earn money from it.
In addition, the market cap of esports is huge, which adds zest and interest for the government to find a new revenue model. This will eventually support their GDP and accelerate technological growth and social institutions. After the great victories in Continental tournaments, the corporations slowly put their bets on the players. They are sponsoring them and making them a brand to earn good ROI from them.
The Future Growth And Possibilities
We cannot live in the present without thinking of the future. Therefore, the future of the Vietnamese esports industry will open up many opportunities for young people to participate. That way, they can create a sporting ecosystem that brings out new jobs and caters to the state’s economic growth.
Moreover, the Vietnamese market is booming with new talents, which are opportunities to grow in the vibrant esports market. Also, with the development of the Vietnamese tech market, esports can eventually be one of the top areas, with most young players signaling its growth and innovation.
So, in the next few years, it will be interesting to see the Vietnamese create an institution for esports to encourage young people to participate and grow.
Related
Source: Vietnam Insider