The strength of the economy means it takes longer to get around Vietnam.
The traffic of a city says a lot about what state the country is in for a number of factors. A growing economy will result in an increasing middle class who are likely to spend their disposable income on cars. Known as a bit of a status symbol, this rise in car ownership will naturally have an impact on traffic. However, a lack of infrastructure and public mass transit network will also add to the traffic on the roads.
In Vietnam, car ownership is on the up. Over the last five years it has risen by 35 percent every year. This is not anticipated to slowdown anytime soon as by 2025 it is predicted that the number of cars on the road will triple in both Hanoi and Ho Chi Minh City. As urbanisation increases, a linger of traffic deadlock is hanging low over both of these busy cities.
Many Vietnamese use motorbikes to get around as there is a lack of public mass transit networks. However these numbers could reduce and be replaced with cars that will only worsen the traffic situation. Ho Chi Minh City is currently building a metro line and bus network to help alleviate the problem, but with car ownership propelling at an impressive rate, it will be hard for the introduction of public transport to keep up.
It is important for these issues on the road to be recognised, and where possible, rectified. Both Ho Chi Minh City and Hanoi have the lowest share of public transport usage in the region that is resulting in worsening air quality.
In the case of Vietnam, the busy roads paint a positive outlook on the state of the economy. Whilst not ideal for those trying to get around the city, it signifies that the increased wealth is happening fast. For the property market this could help strengthen the already buoyant market. Simply because it is likely that there will be an appetite for accommodation situated close to workplaces or in the vicinity to impending mass transit networks in a bid for people to avoid the holdups of traffic.
