The economic value of the wildlife trade in Vietnam

Key messages Wildlife farming generates significant earnings for many households in many provinces, and creates employment opportunities for the rural workforce. The fact that many households in many provinces depend on wildlife farming as their main source of income also creates major challenges for wildlife conservation and management. Diversifying and developing sustainable local livelihoods and economic growth are essential for local well-being and for effective wildlife conservation and management. Developing a holistic approach is essential for addressing illegal wildlife trading and ensuring sustainable legal wildlife farming. Although research and efforts to document and analyze the economic value of wildlife farming and trading have increased, available data are often outdated and based on small sample sizes from limited numbers of study sites. A well-functioning, transparent and accountable monitoring and evaluation system together with financial support for research on legal and illegal wildlife trading, especially in the context of Covid-19, are essential for effective wildlife conservation in Vietnam.