How lifestyle economy makes a livable Ho Chi Minh City

Therefore, the core question is not whether lifestyle economy should be developed, but how it should be shaped so that people can understand it, take part in it, and genuinely benefit from it.

In economic research and consumer behavior studies, lifestyle economy has not yet been formalized as an independent academic term.

Instead, scholars often approach it through the lenses of lifestyle economics and experience economy.

These perspectives argue that economic value is increasingly generated not merely from products or services, but from deliberate lifestyle choices and experiences that consumers are willing to pay for.

Stripped of jargon, lifestyle economy can be understood in very simple terms: it is an economy that creates value by helping people live more conveniently, more healthily, more joyfully, and with a stronger sense of identity in their daily lives.

Lifestyle is not about luxury.

It is about how people eat lunch, commute to work, spend weekends, take care of their health, learn new skills, or arrange their living spaces.

When these everyday activities are better organized, more thoughtful, and emotionally rewarding, they generate economic value.

In other words, lifestyle economy does not begin with what is ‘high-end,’ but with what makes people feel that living here is still comfortable, still enjoyable, and still worth committing to.

Misconception: lifestyle as ‘upmarket’

In Ho Chi Minh City, the word ‘lifestyle’ is often immediately associated with branded real estate, upscale shopping malls, or expensive experiences.

This understanding is not entirely wrong, but it is far too narrow.

No city can build a new growth engine based solely on the high-end segment.

In reality, even at middle-income levels, consumer behavior has changed significantly.

Surveys in Vietnam show that eight out of 10 consumers see spending on experiences such as entertainment, dining, learning, and healthcare as essential needs rather than luxury expenses.

Notably, 67 percent of respondents said they prioritize spending more on education and health than on basic living costs, clearly reflecting an urban trend of spending to live better.

This demonstrates that lifestyle economy is not just a story for the wealthy.

It is a real demand of the urban middle class and working population.

If lifestyle economy fails to reach these groups, it will remain a marginal trend, incapable of becoming a true urban growth driver.

3 layers of lifestyle economy for Ho Chi Minh City

To avoid going off track, Ho Chi Minh City needs to approach lifestyle economy through three distinct layers, corresponding to different levels of participation by residents and businesses.

The first layer is fundamental lifestyle that makes everyday life more bearable and pleasant.

This is the most important layer, yet also the most overlooked.

A fundamental lifestyle is not about expensive consumption, but about minimum quality of life: less stressful commuting, clean and safe public spaces, and convenient access to basic needs.

Residents can participate through small changes, such as more mindful consumption and choices that save time and mental energy.

For urban management, this layer requires consistency in seemingly mundane details. Only when the foundation is solid can higher forms of lifestyle develop.

The second layer is affordable lifestyle: small but regular experiences.

This is the fastest-growing layer in Ho Chi Minh City, seen in short-term classes, workshops, small fitness spaces, cafés, reading rooms, and community green areas.

These models share a common trait: relatively low cost, yet strong potential for mental and emotional renewal.

People do not need to ‘live lavishly,’ but they need moments to slow down and regain control of their time.

For small businesses and start-ups, this layer offers fertile ground to compete through experience quality and subtlety, rather than scale or heavy capital.

The third layer is distinctive lifestyle.

Lifestyle becomes a strategic advantage only when it carries urban identity.

Ho Chi Minh City has its own characteristics such as dynamism, openness, cultural fusion, vibrant street life, and a strong entrepreneurial spirit.

If these qualities are translated into products, services, and living spaces with consistent quality, the city can develop a lifestyle economy that is unmistakably its own.

This is not the work of a single company, but of an entire ecosystem.

An inseparable trend in lifestyle economy is sustainable living.

Ho Chi Minh City should begin with very ordinary behaviors, including buying less but using longer, reducing single-use items, and saving energy.

When sustainable consumption becomes habitual, it both eases household spending pressures and naturally opens up new markets for businesses.

Enhancing urban life quality

Seen this way, lifestyle is not an economic pillar, but the city’s ‘spiritual layer.’

It must be acknowledged frankly that lifestyle economy cannot replace core pillars such as technology, logistics, finance, or manufacturing.

A major city cannot survive on cafés, workshops, or emotional experiences alone.

However, a city built only on hard pillars, without lifestyle, becomes rigid, struggles to retain talent, and lacks long-term appeal.

Lifestyle does not make a city stronger, but it gives the city a soul, a personality, and a sense of livability.

Lifestyle economy not only beautifies Ho Chi Minh City, but also creates sustainable growth momentum, rooted in the everyday lives of the city’s residents.

Understanding lifestyle economy to stay on course

Globally, the shift from material consumption to experiential consumption has formed a clear economic current.

The global experience economy was estimated at around US$778 billion in 2024 and is projected to surpass $1.2 trillion by 2035, with steady growth of about four percent per year.

These figures show that experiences and lifestyles are no longer fringe trends, but key components of modern urban economic growth.

However, if lifestyle is not properly defined and correctly positioned, it can easily be reduced to a narrative of luxury projects, costly experiences, or a ‘stage’ for a privileged few.