The Vietnam tourism industry plays a vital role in Vietnam’s economy, contributing significantly to GDP, job creation, and foreign exchange earnings. It includes a wide range of services such as hotels, restaurants, travel agencies, tour operators, transportation, and attractions, catering to both international and domestic tourists.
Vietnam’s tourism industry is characterised by its rich cultural heritage, natural beauty, and diverse offerings. Key attractions include historical sites, UNESCO World Heritage sites like Ha Long Bay and the ancient town of Hoi An, vibrant cities such as Hanoi and Ho Chi Minh City, and landscapes ranging from mountains to beaches. The industry also promotes various forms of tourism, including cultural tourism, eco-tourism, adventure tourism, and culinary tourism, appealing to a wide audience.
In recent years, the Vietnamese government has prioritised tourism development, implementing policies to improve infrastructure, enhance service quality, and promote sustainable practices. The industry’s growth has been further supported by advancements in technology, such as online travel bookings and digital marketing, which have made travel planning more accessible. Overall, the Vietnam tourism industry is positioned for continued expansion, with efforts focused on enhancing visitor experiences while preserving the country’s unique cultural and environmental resources.
Vietnam tourism industry in numbers
The projected revenue in Vietnam’s tourism market is expected to reach US$3.25 billion. Looking ahead, the market is anticipated to maintain an annual growth rate of 5.68 percent from 2024 to 2029, ultimately reaching US$4.29 billion by 2029, according to Statista.
Also, in 2023, Vietnam welcomed over 12.6 million tourists, showcasing a significant rebound from the pandemic’s impact on global travel, according to Vietnam National Tourism Administration data.
Furthermore, in the first seven months of 2024, Vietnam welcomed nearly 10 million tourists, suggesting that the momentum from the previous year has continued into the current year. This figure represents a substantial portion of the previous year’s total, indicating a strong performance and ongoing interest in travel to Vietnam. The numbers also highlight the potential for the country to exceed or maintain its 2023 levels by the end of 2024 if the trend continues.
Vietnam tourist arrivals by source, July
| Source | May | June | July | YTD |
| Asia | 1,156,067 | 1,051,710 | 928,662 | 6,943,961 |
| Americas | 66,273 | 76,752 | 73,408 | 536,835 |
| Europe | 120,280 | 83,663 | 103,084 | 1,059,617 |
| Oceania | 36,666 | 33,445 | 42,390 | 266,593 |
| Africa | 4,417 | 3,667 | 3,888 | 25,265 |
| Total | 1,383,703 | 1,249,237 | 1,151,432 | 8,832,271 |
Source: Vietnam Tourism Tracker
Key players in Vietnam’s tourism industry
These companies play crucial roles in shaping Vietnam’s tourism industry by providing diverse travel services, promoting destinations, and enhancing the overall visitor experience.
Vietnam National Administration of Tourism (VNAT): The government body responsible for promoting and regulating tourism in Vietnam, developing policies, and implementing marketing strategies to attract international and domestic visitors.
Vietnam Airlines: Vietnam’s aviation industry also plays a pivotal role in Vietnam’s tourism industry. The national flag carrier and a major player in connecting Vietnam to international destinations. It plays a crucial role in facilitating travel to and from the country from a number of key airports in Vietnam.
Saigontourist: One of the largest travel agencies in Vietnam, offering a wide range of services including tours, accommodation, and transportation, both domestically and internationally.
FPT Travel: A leading online travel agency that provides a variety of travel services, including hotel bookings, flight reservations, and packaged tours, catering to the growing demand for digital travel solutions.
Accor Hotels: A prominent international hotel chain with a significant presence in Vietnam, offering a range of accommodations from luxury to budget-friendly options. Their properties attract both leisure and business travellers.
InterContinental Hotels Group (IHG): Another major player in the hospitality sector, IHG operates several well-known hotel brands in Vietnam, catering to various market segments and enhancing the country’s appeal as a travel destination.
Tour operators and local guides: Numerous local tour operators, such as HanoiFreeTour and Buffalo Tours, provide tailored experiences that showcase Vietnam’s culture, history, and natural beauty, contributing to the overall tourism experience.
Attractions and cultural sites: Various attractions, including UNESCO World Heritage sites like Ha Long Bay, Hoi An Ancient Town, and the Cu Chi Tunnels, are essential players in drawing tourists to Vietnam and showcasing the country’s rich heritage.
Consumer behaviour in Vietnam’s tourism industry
Consumer behaviour in Vietnam’s tourism industry is shaped by various factors, reflecting the diverse preferences and motivations of both domestic and international travellers. Here are some key trends:
Growing Health and Safety Awareness: Following the pandemic, travellers are increasingly prioritising health and safety. This includes a preference for destinations that adhere to hygiene protocols and offer contactless services, as well as accommodations that promote wellness, such as spas and outdoor activities.
Preference for Authentic Experiences: Vietnamese travellers, especially younger generations, are seeking authentic cultural experiences that allow them to connect with local traditions and communities. This includes participating in local festivals, culinary tours, and eco-tourism activities that emphasise sustainability.
Digital Influence: The rise of technology has transformed travel planning and booking behaviours. Consumers are increasingly using mobile apps and online platforms to research destinations, read reviews, and make reservations. Social media platforms play a significant role in influencing travel decisions, with user-generated content and recommendations impacting where people choose to go.
Value for Money: Price sensitivity remains a critical factor in consumer decisions. Travellers are looking for good value, seeking out deals and packages that offer a combination of quality and affordability. This trend is evident in the popularity of budget-friendly accommodations and group travel options.
Flexibility and Last-Minute Travel: There is a growing trend towards flexible travel plans, with consumers more inclined to book last-minute trips. The uncertainty in global travel conditions has led many to prefer options that allow for changes or cancellations without heavy penalties.
Local and Sustainable Travel: An increasing number of travellers are conscious of their environmental impact and are seeking sustainable travel options. This includes supporting local businesses, engaging in eco-friendly activities, and choosing accommodations that promote sustainability.
These trends highlight the evolving nature of consumer behaviour in Vietnam’s tourism industry, reflecting a shift towards more responsible, informed, and experiential travel. As the market continues to develop, understanding these behaviours will be essential for businesses aiming to attract and retain travellers.
Box 1: Opening a hotel in Vietnam
Opening a hotel or resort in Vietnam for foreign firms or individuals, however, is not always easy. Not only are there several technical and licensing requirements that need to be met, but Vietnam also has its own unique travel culture.
Understanding the nuances of Vietnamese travel culture and the complexities of business establishment procedures in advance of entering the market can therefore be crucial to the success of a new hotel or resort in Vietnam.
What’s next?
The Vietnam tourism industry plays a vital role in Vietnam’s economy, contributing significantly to GDP, job creation, and foreign exchange earnings. It includes a wide range of services such as hotels, restaurants, travel agencies, tour operators, transportation, and attractions, catering to both international and domestic tourists.
That said, the industry is prone to change quickly and with this in mind, to keep abreast of what’s happening in Vietnam’s fitness industry, foreign fitness industry professionals should make sure to subscribe to the-shiv.