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With the right planning and preparation, exhibitions are the ideal place to launch a new product or service, or gain maximum exposure for your brand. Events and exhibitions are a powerful marketing tool. They provide a platform to promote your product or service to a group that may have little or no knowledge of your services. They also offer an opportunity to meet existing and potential customers. Read on to discover further benefits of exhibitions.
THE ECONOMIC POWER OF EXHIBITIONS
Exhibitions as an important driver of the economy
Exhibitions, also known as trade shows, expos or even passion events, are a subset of the business event industry. Nationally, business events are known to be important drivers of the national economy, contributing to trade and investment outcomes, innovation, jobs creation and visitation.Their value goes well beyond the industry sector of the event – for small and big business. These events play a pivotal role in Vietnam’s economic prosperity, including boosting the visitor economy through domestic and international visitation (such as transport, hotels, retail and restaurants), facilitating small business growth by connecting buyers and sellers, knowledge sharing leading to innovation and business collaboration (both locally and globally) and providing a platformfor international trade and investment
THE MARKETING POWER OF EXHIBITIONS
Exhibitions as a powerful marketing channel
In a worldwide, marketers are making digital a cornerstone of their marketing strategy. Digital channels offer cost-effective and targeted means to reach key audiences.
But when it comes to ‘engagement’ – the ambition of modern day marketing – marketers should not ignore the power of exhibitions to deliver genuine results.
Exhibitions are powerful marketplaces. They are an experiential marketing channel that engages an active and highly motivated audience in a face-to-face environment. The people who attend exhibitions choose to be there and want to connect with the products or services on show. They are engaged in the purchase cycle and have the authority to purchase or influence purchasing.
An exhibition has the power to:
Did you know?
Vietnam has made rapid development and the country’s economy is expected to overtake many Southeast Asian countries in the years to come. When it comes to investing in Vietnam, from early 90s up until now, Vietnam has brought in strong inflow of foreign investments, with average GDP surpassing 7% each year.
Apart from the country’s beautiful sceneries and amazing beaches, what draw in all the interest of foreign investments are the numerous business opportunities, abundant resources, inexpensive workforce, strategic location to China and favourable business environment.
So is 2021 and 2022 the best time for you to invest in Vietnam? Yes, we’d say. Let us break down why Vietnam you should consider Vietnam as your next investment destination in 2021 and 2022. Here's why you should expand your business to Vietnam
Located in the center of ASEAN, Vietnam has a strategic location. It is close to other major markets in Asia, the most notable neighbor of them being China.
Vietnam is involved in several trade agreements with many countries, particularly with its Asian neighbours. Vietnam’s market is further expanded with its improved relationship with Europe and China:
In an effort to encourage more investment in the country, the Vietnamese government offers foreign companies incentives to invest in Vietnam.
Geographical advantages and growing economy are not the only attractive features for investors. Vietnam has always been welcoming to foreign direct investment (FDI) and encourages it by constantly renewing regulations and providing FDI incentives.
In contrast to many other countries, there are no minimum capital requirements for most business lines in Vietnam. In fact, setting a high capital for registering a company in Vietnam is one of the 7 common mistakes foreign investors do here.
Despite the yearly increase of minimum wage, Vietnam is still a country with low labor costs. Wages in Vietnam remain less than half of what the wages are in China.
The rise of wages in China has forced manufacturers to look for a market with lower labor costs. Vietnam with its low minimum wage and growing economy is a great low-cost alternative to China.
Over the last few decades, Vietnam’s economic growth has been one of the fastest in the world. This rapid development started due to economic reforms launched in 1986 and the rise has been continuous ever since
With the growth of the economy, it is almost certain that Vietnam is experiencing a fast-progressing infrastructure. The Vietnamese government has allocated a big sum of money to invest in the country’s infrastructure in recent years: highways, hospitals, international airports, new ports, etc.
With over 95 million residents, Vietnam ranks as the 14th largest population in the world. By 2030, the population will grow to 105 million, as forecasted by Worldometers
According to Worldometers, the median age in Vietnam is 30.8 years in contrast to 37.3 years in China. Nielsen has also estimated that 60% of Vietnamese are under the age of 35.
Thanks to the government’s swift response to COVID-19, Vietnam was able to keep the economy open. Government regulations to contain the virus have kept infection numbers low in Vietnam.
There are more people living in Vietnam than in most of the large countries in Europe. Vietnam’s population has already surpassed the following European countries. Growing solvent population together with a booming economy hide bigger investment opportunities in Vietnam than most people would realize at first.
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