Like most travel categories, online intermediaries have experienced a significant drop in value sales during 2020 due to the impact of COVID-19. Indeed, over the review period, a number of small intermediaries were forced to close temporarily or permanently as a result of the crisis.
One of the hardest hit tourism areas has been cruises, which suffered from particularly negative media attention throughout the lockdown as guests and employees on cruises were often stranded or forced to quarantine at times as the virus spread quickly in confined areas. The difficulties that cruises suffered during the pandemic, as well as the challenges of adapting cruise services to social distancing measures, including confined spaces and dependency on buffet-style meals, will be a major challenge leading into 2021.
In response to the COVID-19 crisis, intermediaries are offering a large number of discounts of up to 50% in a bid to attract local travellers. Domestic trips are expected to recover gradually in line with the easing of social distancing rules, with most consumers believing that the government has handled the pandemic successfully.
Online travel players are set to continue gaining sales share over the forecast period thanks to the dynamic improvement of e-commerce in Vietnam. Among online travel sales, mobile sales are expected to increase gradually since a number of online intermediaries such as Booking.
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Understand the latest market trends and future growth opportunities for the Travel Retail industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Travel Retail research and analysis database.
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