According to the latest e-Conomy SEA 2026 report by Google, Temasek, and Bain & Company, Viet Nam is now Southeast Asia’s fastest-growing digital economy, with gross merchandise value (GMV) projected to reach 49 billion USD in 2026, up 20% year-on-year, on par with Malaysia. This rapid expansion is driven by double-digit growth across all four core sectors, led by e-commerce and online travel, alongside the fast-growing digital financial services segment, particularly digital lending and digital payments.
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(Photo for illustration: chinhphu.vn) |
Double-digit growth across key sectors
Most sectors of Viet Nam’s digital economy are maintaining double-digit growth, as platforms continue to scale up and effectively monetize user habits. E-commerce remains the primary growth driver, accounting for two-thirds of the digital economy’s total value. The sector grew 22% year on year to 32 billion USD in 2026 and is projected to reach 61 billion USD by 2030. This momentum is being driven by platforms’ integration of AI to optimize user reach and improve consumer conversion rates, while streamlining sellers’ operations through specialized tools such as automated product listings.
Online travel continues to expand in Viet Nam, recording 15% year-on-year growth to reach 5 billion USD in GMV, matching Malaysia as one of Southeast Asia’s fastest-expanding markets. Across the region, specialized generative AI (GenAI) platforms have overtaken social media to become the second-most popular choice for users when they begin planning a trip. This shift reflects AI’s growing role in destination discovery and travel itinerary design.
Double-digit growth is spreading across the wider digital ecosystem, as reflected in online media, which grew 17% year on year. Meanwhile, ride-hailing and food delivery services also recorded 17% growth year on year, reaching 6 billion USD in GMV, as electric vehicle companies intensify competition in the segment.
Viet Nam is now Southeast Asia’s most AI-engaged market. As GenAI moves beyond early adopters and becomes more widely used in the workplace, the country has recorded 45 million users of the technology (equivalent to 65% of the workforce), generating 31 billion AI prompts annually.
This scale is accompanied by exceptionally frequent usage compared with other countries in the region. Viet Nam leads Southeast Asia in daily GenAI engagement, with two in every five users accessing AI daily. Users are incorporating the technology into their everyday lives, with each user employing an average of at least five different AI tools. This trend is also reshaping commerce, with 44% of consumer journeys now beginning with AI. Remarkably, adoption of agentic technology is high, with four in five users willing to delegate shopping tasks to AI agents.
Notably, this rapid adoption of AI is closely tied to the use of local languages. Vietnamese is now the dominant language in AI interactions in Viet Nam, accounting for 80% of all conversations, the highest native-language usage rate among the six largest Southeast Asian economies (SEA-6). This distinctly local interaction pattern results in higher token volumes processed per interaction, highlighting growing demand for AI models specifically fine-tuned for the Vietnamese market.
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Managing Director of Google Viet Nam Marc Woo |
According to Marc Woo, Managing Director of Google Viet Nam, Viet Nam’s digital economy continues to demonstrate strong growth, supported by positive user adoption and proactive national AI policies. Reaching 49 billion USD in GMV while leading the region in daily AI engagement in the local language clearly demonstrates Vietnamese users’ adaptability to technological trends. He highlighted Viet Nam’s potential to transform widespread everyday AI use into a powerful driver of economic growth.
“Viet Nam is Southeast Asia’s most AI-engaged market, with users leading the region in daily usage, the range of tools accessed, and early adoption. A dedicated AI legal framework and the National AI Development Fund further support this momentum. However, success will depend not only on adopting AI but also on achieving tangible business outcomes. Companies that redesign their workflows around AI, rather than simply integrating the technology, will gain a sustainable competitive advantage,” said Andrea Campagnoli, Managing Partner at Bain & Company Viet Nam.
Digital financial services record strong growth
Digital financial services are expanding rapidly. Digital lending has emerged as the fastest-growing segment of Viet Nam’s digital economy and the wider Southeast Asian region. Digital payments have also accelerated significantly, reaching 197 billion USD in gross transaction value (GTV), up 21% year on year, and are projected to approach 302 billion USD by 2030. This growth is directly fueled by a 38% increase in cashless transactions in early 2026.
In line with broader regional trends, private capital flows in Viet Nam are undergoing a strategic shift. While deal value has somewhat slowed amid caution among global investors, capital is being allocated more constructively, moving away from short-term user acquisition toward business models with sustainable profitability and critical infrastructure, including data centers, semiconductors, and emerging industries.
Translated by Quynh Oanh