Danang is becoming a hub for start-ups keen to benefit from the investment pouring in.
Danang in central Vietnam has been pin pointed as a hub for innovation and start-ups. This is according to real estate firm JLL. They have recognised the city as being one of the popular spots alongside Chiang Mai in Thailand, Penang in Malaysia, and Bali and Bandung both in Indonesia. All these places listed offer a slower pace of life. Plus cheaper living that draws in this segment of the working population who strive for the perfect work-life balance. This is spurred on by the growing number of millennials priortising flexibility when it comes to searching for the right job.
Asian cities have not been shy to welcome start-ups over the years. Co-working spaces are increasing in the country. This is on top of Vietnam’s office spaces warranting the highest yields across the world. This and the rise of digital nomads has helped supplement the shift away from the traditional destinations of Ho Chi Minh City, Bangkok, Kuala Lumpur and Singapore. A digital nomad is loosely defined as an individual working in the tech scene who does not need a fixed working abode. Examples includes freelancers or entrepreneurs where flexibility and freedom allow people to work whenever and wherever they wish to do so.
Why Danang?
Danang has become popular partly due to investment to make the city into an ‘Innovation Hub by the Sea’. The city is attempting to draw more people in with various events. This includes Danang Startup Network Coordinating Council and the Danang Business Incubator. The start-up scene is growing and its no thanks to big investors playing a pivotal role in this. This included a USD 1.3 million incubator to help empower start-ups.
As Vientam’s economy and property market continues to grow from strength-to-strength, this is yet another string to its bow of recent success stories.
If you are looking to buy or rent property in Danag then check out Dot Property’s listing online here.