Vietnam Tourism Market is worth USD 27,500 Million as of now and is expected to reach USD 135,000 Million by the year 2033 at a stupendous CAGR of 17.2% between 2023 and 2033.
It needs to be noted that the economy of Vietnam has transformed to a service sector dependent economy (from an agrarian economy) in the last few years. The number of international arrivals is skyrocketing. With picturesque landscape and winding roads, Vietnam is amongst the most-preferred budget-friendly destinations.
Vietnam is home to Ha Long Bay in the north (a UNESCO World Heritage site with limestone mountains and turquoise waters). The visitors are also recommended several untouched islands like Phu Quoc, which holds the distinction of being a half national park with the rest half comprising white sand beaches.
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Visa application process is another factor boosting Vietnam Tourism market. In other words, tourists from several countries like Japan, South Korea do enjoy an exemption in visa for 15 days.
Military tourism is another catalyst to Vietnam Tourism Market. The noteworthy ancient sites include My Son, Imperial City of Hue, and Citadel of the Ho Dynasty. Coming to Vietnam War, the notable places include Cu Chi tunnels, War Remnants Museum, Vietnam Military History Museum, and Hoa Lo Prison.
There are tour groups like Dana Dragon Free, Saigon Hotpot, and Hanoi Kids; which do offer travel guides for free to the outstation travelers.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Vietnam Tourism Market’. It has its team of analysts and consultants to deploy its 360-degree view in primary, secondary, and tertiary modes of research.
“With Vietnam proving to be ideal for outdoor pursuits like trekking and kayaking (and also water sports), Vietnam Tourism Market is expected to grow on a grand note in the near future”, says an analyst from Future Market Insights.
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Key Takeaways from Vietnam Tourism Market
- The government is into promotion of tourism through alluring marketing tactics by the market participants.
- Local authorities, airlines, hotels, and online travel providers could collaborate for promoting emerging destinations, so as to bolster local tourism. As of now, outdoor tourism is inclusive of beaches and mountains.
Competitive Tourism
The key participants in Vietnam Tourism Market include Lily’s Travel Agency, Viet Vision Travel, Hello Laos Travel, Green Era Travel, Amazing Tour Vietnam, Exodus Travels, Get Up and Go Vietnam Travel Company, Vietnam Adventure Tours, Three Land Travel, and likewise.
What does the Report say?
- The research study is based on direct suppliers (airlines, hotel companies, car rental, train, tour operators, and government bodies), by indirect suppliers (OTA (Online Travel Agency), traditional travel agencies, TMC’s (Travel Management Companies), corporate buyers, and aggregators), by age (under 18, 18-25, 26-35, 36-45, 46-55, and over 55), by visit purpose (leisure travel, business travel, education-employment-pilgrimage, and visiting friends & relatives), by demographics (male, female, and kids), by nationality (international and domestic), by tour type (tour group, independent traveller, and package traveler), by tourism type (religious tourism, cultural tourism, medical tourism, and likewise), and by booking channel (phone booking, online booking, and in-person booking).
- The fact that Vietnam is being propagated as a low-cost destination is expected to take Vietnam Tourism Market by storm in the upcoming period.
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Vietnam Tourism Market by Category
By Direct Suppliers:
- Airlines
- Hotel Companies
- Car Rental
- Train
- Tour Operators
- Government Bodies
By Indirect Suppliers:
- OTA (Online Travel Agency)
- Traditional Travel Agencies
- TMC’s( Travel Management Companies)
- Corporate Buyers
- Aggregators
By Age:
- Under 18
- 18-25
- 26-35
- 36-45
- 46-55
- Over 55
By Visit Purpose:
- Business Travel
- Leisure Travel
- Education-Employment-Pilgrimage
- Visiting Friends & Relatives
By Demographic:
- Male
- Female
- Kids
By Nationality:
- Domestic
- International
By Tour Type:
- Independent Traveler
- Tour Group
- Package Traveler
By Tourism Type:
- Religious Tourism
- Cultural Tourism
- Medical Tourism
- Others
By Booking Channel:
- Phone Booking
- Online Booking
- In person Booking
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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