Overview
Vietnam is home to nearly 90 million inhabitants, and boasts a long, pristine coastline on the South China Sea.
The country’s lush, tropical setting belies a turbulent history of colonization and warfare that ended with the establishment of the unified Socialist Republic of Vietnam in 1976. In the years after unification, the country was plagued by poverty, repression and international isolation that hindered widespread economic prosperity. Today, Vietnam is both one of the world’s most populous countries and one of its poorest, with the average person earning just US$1/day.
More than 50% of Vietnam’s population lives in poverty, an economic reality that coupled with a long history of warfare has contributed to poor infrastructure development. In the 1980's, the country’s one-party government introduced a series of reforms aimed at improving the economy and living standards. The Doi Moi (renovation), as it’s called, has made great advances since then—specifically in the areas of growing private enterprise, attracting foreign investment and transforming the country into an industrialized nation.
In the cities, a young middle class is eager to become engaged in trade with the rest of the world, but despite all efforts made to expand opportunities nearly two-thirds of the Vietnamese population still works as field laborers.