Statistics on the cost of Tet (Vietnamese Lunar New Year) celebrations in Vietnamese people, as reported in Western newspapers.

According to Forbes, the average cost of celebrating Tet (Vietnamese Lunar New Year) in Vietnam is $643 (equivalent to 14.2 million VND).

Forbes, citing a survey by research firm TNS, reported that the average spending of Vietnamese consumers during Tet (Lunar New Year) was $643 (equivalent to 14.2 million VND).

The streets of Ho Chi Minh City are starting to get crowded again after the week-long Lunar New Year holiday – a time when Vietnamese people tend to spend quite a lot of money.

Tet is a holiday considered similar to Christmas and New Year's Day in the West. A festive atmosphere permeates every Vietnamese family, and millions of people begin their journeys back to their hometowns to celebrate Tet.

Two women are buying red envelopes for Lunar New Year in Vietnam. (Photo: AFP/Getty Images)

Besides travel costs – which always skyrocket during every holiday season – spending on household items, food and drinks, and personal items like clothing (often buying new clothes for all family members) also increases dramatically.

In addition, Vietnamese people also have to spend money on buying gifts and presents every Tet holiday. This expense also consumes a considerable amount of money, sometimes even more than their Tet bonus.

Then there's the tradition of giving lucky money to friends and relatives, especially the elderly and young children. The amount of money spent during Tet is considerable when compared to the income of most Vietnamese people today.

With such "generous" spending, coupled with the festive atmosphere and feasting throughout the country, Tet also incurs high human costs.

According to statistics from the Ministry of Health, from February 7th (the 29th day of the 12th lunar month) to February 12th, there were over 35,000 emergency hospitalizations due to traffic accidents, fights, and alcohol poisoning.

According to VOV.VN