Food and catering service costs in Vietnam rose by 0.74 percent in January, contributing 0.25 percentage points to the Vietnam’s Consumer Price Index. The increase was driven by food prices rising 0.3 percent, while foodstuff saw a larger gain of 0.97 percent, contributing 0.21 percentage points to the overall CPI.
Dining out costs also increased by 0.33 percent, reflecting higher input prices and increased demand during the Lunar New Year period.
Food and catering service costs in Vietnam vary depending on several factors, including the type of service, location, and quality of the food. The country’s food and catering industry has seen substantial growth, driven by a growing population, an expanding middle class, and an increase in both local and international tourism.
In general, food prices in Vietnam are relatively affordable compared to many other countries in the region, with street food, local restaurants, and casual dining options being especially budget-friendly. For instance, a meal at a typical local restaurant can cost between VND 50,000 to VND 150,000 (approximately US$2 to US$6), depending on the type of food and location. Street food, which is a major part of Vietnamese culinary culture, is even more affordable, with prices often ranging from VND 20,000 to VND 50,000 (around US$1 to US$2).
In contrast, the cost of dining at mid-range or upscale restaurants can be significantly higher. A three-course meal at a mid-range restaurant for two people can range from VND 300,000 to VND 700,000 (around US$12 to US$30), while fine dining establishments can see prices go much higher, particularly in major cities like Hanoi and Ho Chi Minh City.
The catering services industry, which caters to events such as weddings, corporate functions, and parties, also reflects a wide range of pricing depending on the service’s scale, the type of food, and the venue. For small events, catering costs can start from VND 200,000 per person (around US$8), while larger, more elaborate events can cost upwards of VND 500,000 to VND 1,000,000 per person (approximately US$20 to US$40), especially when offering premium dishes, international cuisine, or elaborate buffets.
In urban areas, the demand for catering services has been growing, with more international restaurants and catering companies offering specialized menus, including options for foreign and fusion cuisine. The rise in foreign investment and tourism has also influenced food costs, with many international restaurants in larger cities catering to expatriates and tourists, which can raise prices compared to more local, traditional venues.
Overall, the food and catering service costs in Vietnam remain relatively low by global standards, offering a range of options for all budgets. The growing variety of dining experiences, from street food to fine dining and corporate catering, provides consumers with flexibility in terms of price and quality.
See also: Food and Beverage Industry in Vietnam