PriceWaterhouseCoopers forecast that Internet services in Vietnam will rise at the average rate of 20.9 percent in the next five years.

PriceWaterhouseCoopers – a leading world business consulting group – has released its 10^th global report on the prospects for the entertainment and communications markets. This report said that Vietnam’s entertainment and communications market will grow at the highest level in the world, 16.7 percent, followed by Saudi Arabia and Arabian countries with 15.5 percent and Pakistan 13 percent.

According to PriceWaterhouseCoopers, contributing the most to Vietnam’s entertainment and communications sector is Internet services, which are forecast to rise at the average rate of 20.9 percent in the next five years. Advertising and personal consumption (not including Internet) will grow at 10.9 and 16.1 percent.

The report pointed out that economic development, the improvement of communications systems like multi-channel television, broadband Internet and mobile phones are the major stimuli for the growth of the entertainment and communications industry.

The market value of the entertainment and communications sector in Vietnam rose by three-fold from 2004 to 2009. Vietnam still has potential to develop this industry because it has not deeply developed some fields in this sector, according to PriceWaterhouseCoopers.

Following the world trend, spending on Internet, advertising on television and cable TV services will help the entertainment and communications sector further develop.

PriceWaterhouseCoopers forecasts that the global entertainment and communications sector, including personal spending and spending on advertising, will grow 2.7 percent annually from 2009 to 2013 to reach $1.6 trillion in 2013.

Latin America and Asia-Pacific will be the most dynamic regions in this field, with growth rates of 5.1 and 4.5 percent and market values of $73 and 413 billion in 2013.