Increasing tourism, Internet penetration rate, urbanization and Innovation in technologies are driving Vietnam car rental market: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 1. The urban population is rapidly increasing due to the number of immigrants, economic reforms as well as higher living standards The six largest urban agglomerations in Vietnam include Hanoi, Hai Phong, Da Nang, Bien Hoa, Ho Chi Minh City and Can Tho. In the last decade, the Vietnamese economy has experienced consistent economic growth with about 6% increase in GDP from year to year. The Vietnamese government expects to nearly double the country’s GDP per capita by 2030 and increase it eightfold by 2050. 2. Increasing tourism, growing middle class and improving infrastructure are driving the growth in Vietnam car rental market The market for car rentals in Vietnam is expected to expand as FDI in 2022 is estimated at 13.5% over the previous year. This is the highest amount of foreign direct investment in the past 5 years. Vietnam is a popular tourist destination, and as more tourists visit the country, the demand for car rental services increases. This is especially true in the more rural areas of the country, where public transportation is limited. Since reopening its borders and lifting most Covid restrictions, Vietnam has earned high revenues from tourism. As more companies conduct business in Vietnam, the number of business travelers visiting the country is also increasing, which is boosting the car rental market. As of July 2020, Vietnam’s 30-day single entry e-Visa program is available to nationals of 80 countries. The Vietnamese government has been actively promoting the car rental industry, which has helped to create a favorable environment for the growth of the market. From March 2022, the registration fees for battery-driven electric cars are to be 0% within the next three years. The rising middle class in Vietnam has more disposable income to spend on luxury items such as car rental services, which is driving the market’s growth. By 2030, there will be about 48 Mn Vietnamese people earning over $20/day. Compared to Asia, Vietnam is among the fastest growing in terms of population earning more than $20/day in constant PPP. Request For Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MzIz 3. Limited availability of cars, hidden costs, quality of vehicles and poor customer services are problems faced by consumers in Vietnam car rental market Limited availability of cars or vehicles during peak travel season and holiday periods can cause frustration for customers. Some car rental companies might charge extra fees, such as insurance, fuel, or parking charges, that are not clearly stated in the initial quote. Some customers might be dissatisfied with the condition and maintenance of the vehicles, leading to problems during their trips. Poor customer service, such as slow response times, unhelpful or untrained staff, or lack of clear communication can cause frustration for customers. Limited availability of cars or vehicles during peak travel season and holiday periods can cause frustration for customers. 4. Smart city mission 2025 will help in fastening the process of digitalization of the economy and providing business opportunities to car rental companies in Vietnam By 2025, fiber optic broadband network infrastructure will cover over 80% of households in urban areas, universalize 4G, 5G mobile network services and smartphones. By 2030, universalize 5G mobile network services, and the proportion of adult population in urban areas with electronic payment accounts will be over 80%. This will help car rental, ride hailing, sourcing, leasing and self-drive rental companies to digitize their operations and operate efficiently in the country. The lease/contract signed for leasing and self-drive car rental rentals could be done online. It will also encourage people to opt for digital payments more. For more insights on the market intelligence, refer to the link below:- Vietnam Car Rental Market Related Reports By Ken Research:- Belgium Car Rental Market Outlook 2027F Japan Car Rental Market Outlook to 2027F Egypt Car Rental Market Outlook to 2027F Post Views: 17 Tags: Airport Car Rental Market Vietnam, Avis Car Rental Market Analysis Revenue, Best Car Lease Company In the Vietnam, Car Rental Agency In Vietnam, Car Rental and Leasing In Vietnam, Car Rental Business Market Vietnam, Car Rental Companies In Vietnam, car rental industry, Car Rental Major Online Platforms In Vietnam, Car Rental Service Providers In Vietnam, Car Rentals In Vietnam, Challenges In Vietnam Car Rental Market, Competitors In Vietnam Car Rental Market, Emerging Players In Vietnam Car Rental Market, Existing Car Rental Companies In Vietnam, Hertz Vietnam Car Rental Market Revenue, Hiring Car Rental Market Vietnam, Kayak Vietnam Car Rental Market Share, Leading Car Lease Companies In Vietnam, Leading Players In Vietnam Car Rental Market, Luxury Car Rental Market Size, Major Car Rental Brands In Vietnam, Major Players In Vietnam Car Rental Market, New Entrants In Vietnam Car Rental Market, Number of Leisure And Business Trips In Vietnam, Number Of New Car Sales In Vietnam, On And Off Airport Rental Car Market Vietnam, Online Car Rental Service Market Vietnam, Organised Car Rental Market Vietnam, Rent A Car In Vietnam, Renting A Car Through Online Platforms Vietnam, Self-Drive Cars For Hire In Vietnam, Startups In Vietnam Car Rental Market, Top Players In Vietnam Car Rental Market, Total Car Rental Users In Vietnam, Tourism Vehicle Rental Market Vietnam, Trust Car Rental Vietnam Market Revenue, Vehicle Rental Market In Vietnam, Vietnam Bike-Taxi Service Market, Vietnam Budget Car Rental Market Share, Vietnam Cab Aggregator Market, Vietnam Car Leasing Market, Vietnam Car Leasing Sector, Vietnam Car Pooling Market, Vietnam Car Rental Industry, Vietnam Car Rental Market, Vietnam Car Rental Offline Channels, Vietnam Car Rental Pick-Up Market, Vietnam Car Rental Sector, Vietnam Car Rental Services Market, Vietnam Car Sharing Market, Vietnam Rentals And Leasing Market, Vietnam Ride-Sharing Market, Vietnam Self-Driven Market, Vietnam Tourism Vehicle Rental Market Size, VN Car Rental Vietnam Market Revenue