Vietnam is fast positioning itself as a rising hub for the global events and experience economy, driven by progressive government policies and large-scale infrastructure investments led by Vingroup. With rising costs and political uncertainties impacting traditional MICE destinations across Asia-Pacific, Vietnam is emerging as an attractive alternative for international exhibitions, live entertainment and mega-events.
Vietnam’s Growing Appeal
- Political stability and strong economic growth are boosting investor confidence.
- Vietnam has maintained an average annual growth rate of 6.4 per cent over four decades.
- Per capita income is expected to reach USD 8,500 by 2030, increasing demand for live entertainment and events.
- Vietnam ranks among the world’s Top 20 trading economies and Top 15 destinations for foreign direct investment.
MICE and Entertainment Industry Growth
- Vietnam’s MICE industry is valued at nearly USD 6 billion.
- The advertising sector has reached USD 3.5 billion.
- The live entertainment industry has generated over USD 50 million through more than 700 large-scale events annually.
- International visitors linked to events contribute over USD 1 billion in economic spillover.
Policy Reforms Supporting Growth
- Vietnam’s government is positioning culture as a strategic economic driver.
- Resolution No. 80 targets cultural industries contributing 7 per cent of GDP by 2030.
- Reforms include VAT reduction to 5 per cent, tax incentives for exhibitions and performances, and dedicated support for creative complexes.
- The government has also committed at least 2 per cent of the annual state budget towards culture.
Vingroup’s Infrastructure Push
- Vietnam Exposition Center (VEC) in Hanoi spans 900,000 square metres, making it one of Southeast Asia’s largest event complexes.
- Vingroup plans to expand further with the Blue Wave Theater in Ho Chi Minh City, a 60,000-capacity venue expected to become Southeast Asia’s largest theatre.
- Upcoming projects include the 135,000-seat Hùng Vương Stadium and the 60,000-seat PVF Stadium with retractable roof technology.
Integrated Event Ecosystem
- Green SM supports transportation with over 186,000 electric taxis and motorbikes.
- Vinpearl contributes hospitality capacity with over 16,100 hotel rooms and villas.
- The ecosystem also includes event organisers, convention centres and entertainment brands supporting large-scale global events.
Conclusion
Backed by policy reforms, private investment and world-class infrastructure, Vietnam is steadily strengthening its position as a major destination for global MICE and entertainment events.
