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Ho Chi Minh City book street generates over $1.3mn in revenue in January-June

Ho Chi Minh City book street generates over $1.3mn in revenue in January-June

Friday, August 04, 2023, 15:00 GMT+7
Ho Chi Minh City book street generates over $1.3mn in revenue in January-June
A visitor at a book stall on the Book Street in downtown Ho Chi Minh City. Photo: Nhat Xuan / Tuoi Tre

The Book Street, one of Ho Chi Minh City’s most well-known cultural icons, yielded more than VND32 billion (US$1.3 million) in revenue in the first half of 2023, nearly double the year-ago figure.

The revenue also soared 44.6 percent against the pre-pandemic figure of 2019, according to a recent report on the book street's business performance.

The earnings generated from the book street, located on Nguyen Van Binh Street in District 1, mainly came from the sales of books, goods, and services.

Two coffee shops on the street made hefty revenues of VND2.7 billion ($113,300), accounting for 8.35 percent of the total revenue and rising 50 percent year on year.

The book street saw the sales of books and stationery reach VND29.5 billion ($1.24 million), climbing 56.3 percent year on year.

Specifically, retail sales at bookstores there represented some 70 percent of the total at nearly VND20.7 billion ($868,000).

Wholesales amounted to VND8.8 billion ($372,000), making up 30 percent of the total.

In addition, the number of books sold during the period jumped over 82 percent year on year.

A representative of the book street management board attributed the surge in revenue to the diversity of business methods and products.

Besides, printing and publishing firms focused on publishing and reprinting new editions, as well as organizing ceremonies to launch new books, contributing to an increase in revenue for the book street.

Notably, the sales of children’s books ticked up 10 percent year on year as these firms launched various child-driven programs and offered preferential packages to students.

A series of cultural events and book fairs held on the book street contributed to shoring up turnover and the number of visitors to the street.

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Tieu Bac – Nhat Xuan / Tuoi Tre News

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