Vietnam's Booming Economy Fuels Surge in Study Abroad Demand

Vietnam's economy is booming, projected to grow at around 7-7.5% in 2026 according to the IMF and ASEAN. This growth is not limited to manufacturing and service sectors but also includes robust demand for exports and domestic consumption.

The country is attracting a record level of foreign investment, including in education. Vietnamese students are increasingly studying abroad, with significant jumps in enrollment in various countries. Vietnam ranks #1 in South Korea (+17% y-o-y) and Taiwan (+33% y-o-y), and #3 in China (+155% from 2018 to 2024).

For US educators, Vietnam is a growing market, with 55% of US institutions identifying it as a target undergraduate market. The number of Vietnamese students in New Zealand and Malaysia is also on the rise. However, Japan hosts far more Vietnamese students than all English-speaking destinations combined.

The draw for degree studies is particularly strong in South Korea, where about 60% (58,000) of Vietnamese students are now in degree programs. This trend aligns with Vietnam's ambition to join leading semiconductor economies like Taiwan and South Korea.