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Analysis, Competition, Forecast and Opportunities 2017-2022 and 2023-2027

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DUBLIN, Feb. 3, 2023 (Global Newswire) — “Vietnam Tourism Market by Product/Service Offer, Destination, Visit Purpose, Tourist Profile, Average Length of Stay, Region, Competitive Forecast and Opportunities, 2027” Report Added arrive ResearchAndMarkets.com’s supply.

Vietnam tourism market is expected to grow at a steady CAGR during the forecast period 2023-2027

Strong economic growth, supportive government policies, increased competition among market players, and adoption of attractive marketing and promotional strategies by market players are the key factors driving the growth of the Vietnam tourism market over the forecast period.

Booming domestic tourism supports market growth

Tourism is considered one of the most important income-generating industries in Vietnam, and the economy relies heavily on domestic tourism to generate a substantial source of income. Increases in consumers’ disposable income have allowed them to afford domestic travel, as many international countries have closed their international borders to people belonging to other nationalities.

Domestic tourism is expected to grow rapidly and is expected to resume growth in a short period of time due to consumers increasing domestic consumption and market players launching attractive and affordable travel packages. Local tourism can be boosted by focusing on emerging destinations in partnership with local authorities, online travel agencies, hotels and airlines.

After the easing of lockdown restrictions, outdoor travel involving mountains, beaches, sunshine, and nature has become the first choice for Vietnamese tourists. The tourism industry has grown rapidly over time, and with the relaxation of international travel and vaccination facilities, the industry is expected to witness growth opportunities over the forecast period.

International tourism generates an important source of income

There are fewer international tourists than local tourists, but they account for more than half of the country’s tourism spending. The growing tourism industry creates jobs and supports the restaurant and retail industries.

Most tourists visiting Vietnam come from Asian countries, which include Taiwan, Japan, South Korea and China, as the country has strong economic ties with these countries. The Vietnamese government is adopting a zero-case-first strategy as it covers countries with relatively low rates of COVID-19 transmission to win travellers’ confidence and increase the number of foreign tourists in the country.

Investments by market players to increase the number of tourists from these countries and provide affordable and quality services to international tourists are expected to drive the growth of the Vietnam tourism market over the forecast period.

Adoption of online sales platforms by market players to drive market growth

Market players are investing in the adoption of online sales platforms for the consumer base by reaching a wider audience.

The emergence of interactive websites and mobile applications that offer lucrative travel packages to consumers and provide 24*7 customer support to resolve customer queries is expected to drive the growth of the tourism market in Vietnam. Travelers and tourists can use customized travel plans according to their convenience, budget and requirements.

Market players also provide services for tourists to visit tourist attractions virtually to make the right decision on the places they want to visit and choose the right travel mode for the destination.

competitive landscape

Company Profiles: Detailed analysis of major companies in the Vietnam tourism market.

Report scope:

In this report, the Vietnam tourism market is segmented into the following categories, furthermore, the following industry trends are detailed:

Vietnam Travel Market, by Product/Service Offered:

Vietnam Travel Market, By Type:

Vietnam Tourism Market, by Visit Purpose:

  • Business

  • Leisure and entertainment

  • educate

  • medical

  • Social activities

  • others

Vietnam Tourism Market, by Tourist Profile:

Vietnam tourism market, by average length of stay:

Vietnam Travel Market, By Region:

For more information on this report, please visit https://www.researchandmarkets.com/r/zhw4zg-travel?w=12

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