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VietNamNews

Public value health more than wealth

Update: March, 06/2012 - 10:14

HCM CITY — The long-standing Vietnamese belief that "health is the mother of success" holds true even in today's consumer culture, according to a new report released yesterday by research firm Cimigo.

"The report shows 87 per cent of Vietnamese prioritising their health over their bank balances, somewhat surprising in the fast emerging consumer culture that we see around us every day," said Cimigo managing director Joe Wheller.

Two thousand respondents in Ha Noi and HCM City also proved to be very financially aware, and careful savers of their personal incomes, the report said.

"Vietnamese remain very conservative when it comes to their finances, in spite of the spend, spend, spend tide of consumerism that we see rising around us here," Wheller said. "Vietnamese save heavily, and indicate that any unexpected windfalls will largely be saved as well."

The survey showed that over 56 per cent of income earners put 11 per cent or more of their income into some kind of savings systems, either at home, or in the banking sector.

Furthermore, Vietnamese prefer to save than borrow when it comes to major purchases, and in the event of an unexpected windfall (of VND20 million or about US$1,000), 77 per cent of respondents said they would save some or all of this money.

He said another area where conventional wisdom has been bucked lay in the geographic attitude distribution.

"Stereotypically, Hanoians are viewed as homebodies when compared to the out-and-about consumerist Saigonese, but our research has indicated quite the opposite, with HCM City residents being bigger savers than their counterparts in the capital." — VNS

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