Page 5 - JT1-SalaryReport-2024
P. 5

The revenue of Vietnam’s IT sector contracted by 8.66%                        (2022 eastimate)
       year-on-year,  mainly due to the subdued global demand       $148B
       for IT products and services. However, there were signs of                      3.3%  Compared to 2021
       recovery and growth in some segments of the sector,          In which:
       especially in software exports. Several IT firms achieved
       remarkable growth in foreign markets, such as Japan and      Hardware                 Software + IT Service
       the Asia-Pacific region. In the first 9 months of 2023, a      $137B     $136B          $16B       $3B
       leading player reported a significant increase in IT export   (2023)    (2022)         (2023)     (2022)
       revenue and secured more new contracts.
       Furthermore, a notable trend emerged in the Vietnam IT market, with product technology companies from prestigious
       global tech hubs like Singapore, Hong Kong, the U.S., Japan, and the EU actively establishing their presence. This trend
       highlights the growing attractiveness of Vietnam as a key hub for IT talent and expertise.

















       INFLUX OF GLOBAL
       TECHNOLOGY ENTERPRISES


       A significant trend in the Vietnam IT market is the strategic entry of esteemed global technology enterprises.
       These companies are setting up tech hubs in Vietnam with the main goal of advancing their core products. They
       recognize Vietnam as a promising hub for sustained product innovation and growth, which aligns with their
       long-term business objectives.
       Besides, IT consulting firms are proactively founding IT hubs in Vietnam to provide valuable services to their
       clients. They are leveraging the abundant pool of skilled IT professionals in the country.



       Key Facts about Outsourcing to Vietnam



                                                                HackerRank Score       Business Skills

                                                                Technology Skills      Data Science Skills
                                           81.1%
                                           81.1%
                                                            Hanoi, Ho Chi Minh
                                                            City, Da Nang IT Hubs
                                72%
                                72%
                                                            530,000                         $14-40
                                       65%                  Number of developers            Average rates
                                       65%
                           42%
                           42%
                                                            #6 Kearney GSLI     #35 Coursera Global Skills Report
                                                            #8 Topcoder         #66 EF English Proficiency Index




                Vietnam ranks among the top 50 digital nations in the world. Its two major cities, Hanoi and Ho Chi Minh City,
                       also feature in the top 100 “Super Cities” list, occupying the 50th and 58th spots respectively. 






       1   8 Trending Outsourcing Destinations Worth Considering in 2023 | Grid Dynamics



                                                                                                               04
   1   2   3   4   5   6   7   8