This white paper explains why Vietnam is gaining momentum as a top IT outsourcing destination in 2024—especially for companies under pressure from inflation, geopolitical tensions, and market volatility. The paper cites KPMG’s outlook that global growth may slow from 3.1% (2023) to 2.9% (2024), reinforcing the need for businesses to restructure and seek more cost-effective delivery models.

Savvycom’s dedicated development team combined in-depth interviews with C-suite executives at leading Vietnamese tech firms and third-party data sources to map Vietnam’s outsourcing advantage, with a clear focus on developer rate competitiveness across regions, countries, roles, and tech stacks. The paper compares global median outsourcing rates by region (Southeast Asia vs South Asia vs Eastern Europe vs Latin America) and highlights that Southeast Asia—where Vietnam is included—offers the most attractive rates overall.

Beyond macro comparisons, the paper dives into Vietnam-specific drivers: the country’s growing export revenue for software & IT services (excluding FDI enterprises) reached ~US$9B in 2023 (up from US$2.2B in 2022), supported by an estimated 530,000-person IT workforce and 50,000–57,000 new talents annually.

The most actionable part of the white paper is its breakdown of Vietnam developer rates by roles and tech stacks, including trend lines from 2022 → 2023 → H1 2024 and projected H2 2024. It notes pricing differences across backend stacks (NodeJS/PHP/Java/.NET about 15% lower than Python/Ruby on Rails/Golang) and shows that AI/ML engineering rates remain the highest among data/blockchain/AI roles—reflecting demand and specialization.

What’s Inside This Guidebook

• Global context: why cost optimization matters in 2024 and what it means for outsourcing decisions

• Where to find attractive developer rates globally (regional comparison)

• Vietnam vs other Asian countries: average monthly rate comparison + Vietnam’s outsourcing positioning

• Why Vietnam stands out: export revenue growth, workforce scale, and ecosystem signals

• Vietnam developer rates by roles and tech stacks (backend, frontend/mobile, full-stack/devops, data/blockchain/AI, PM/BA/QA) + projections