The middle and affluent class (MAC) in Viet Nam will double in size between 2014 and 2020, from 12 million to 33 million, according to a recent study by the Boston Consulting Group. In addition, Vietnam’s average per capita income will rise by 240% by 2020. So MAC income in Vietnam may to increase from about $8.6 billion in 2014 to about $57.2 billion in 2020. By then, Vietnam’s MAC population will be two-thirds the size of Thailand’s MAC population. It’s no wonder McDonald’s joined KFC, Starbucks, Pizza Hut, Burger King and many others in opening stores in Vietnam.
McDonald’s, the world’s largest restaurant chain with outlets in more than 100 countries, started service in Ho Chi Minh City Feb. 8.
The first branch in Vietnam’s biggest city has 350 seats, said Henry Nguyen, owner of McDonald’s local partner. He said expanding the chain to at least 100 branches within a decade was an achievable, if tough, goal.
McDonald’s got about 68 percent of revenue outside the U.S. in 2012, compared with 49 percent in 2000. There are about 400 McDonald’s in the Philippines, 260 in Malaysia, 195 in Thailand, and 150 in Indonesia. Vietnam is the first Southeast Asian market since the company opened its restaurant in Brunei in 1992.
KFC opened in Vietnam in 1997, and now has 134 Vietnam locations. Pizza Hut, which opened a decade later, has 34. Baskin-Robbins and Dunkin’ Donuts, which opened in Vietnam in 2012 and 2013, now have a combined 18 locations. The two brands plan together to open 60 to 80 locations each year in Southeast Asia. Starbucks, which opened its first three stores in Vietnam in 2013, all in Ho Chi Minh City, said the company planned to open in Hanoi in 2014. International Dairy Queen opened in Ho Chi Minh City in Jan 2014, joining a field of U.S. brands that since 2010 has added Carl’s Jr.; Domino’s Pizza; Dunkin’ Donuts and Baskin-Robbins; Popeyes Louisiana Kitchen, Subway Restaurants, and Starbucks Corp.
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