Travel in Vietnam

Vietnam is enjoying strong economic growth and development, resulting in higher tourist traffic in all directions

Vietnam saw strong growth in inbound arrivals, outbound travel and domestic travel in 2019, with outbound and domestic travel seeing double-digit growth boosted by residents’ higher interest in travelling and higher disposable income under the country’s booming economy. Players in all travel categories benefitted from airline development, especially from the increase in low-cost airlines and route expansion.

Online sales continue to outpace offline sales in all major categories as travellers are increasingly connected

Hotels, airlines, travel intermediaries all continued to enjoy strong double-digit value growth through online sales, with hotels seeing particularly high online sales growth in 2019. Luxury and upscale hotels increasingly invested in developing in their own websites in order to generate more online direct sales, with substantial success.

VietJet and Vinpearl maintain their leading positions in low-cost airlines, ongoing promotion and expansion

In 2019 the leading players in airlines continued to be low-cost air carriers and luxury and upscale hotels continued to hold the leading value shares in hotels overall. While the scheduled airline Vietnam Air held the highest value share in airlines overall, it lost considerable ground to the leading low-cost carrier VietJet, which not only continued to attract more travellers due to its lower ticket prices but also continued to open new routes, including to places to which there had been no direct flights before.

Among Vietnam’s many and varied tourist attractions unusual theme parks across the country are commanding more attention

While Vietnam has long been noted for many tourist attractions, including natural splendours such as Ha Long Bay, the many national parks and the historical leading attraction, the Ho Chi Monument, several unusual theme parks/resorts have been built, buttressed by foreign investment. Vinpearl Land Amusement Park, the largest theme park in Southwest Vietnam, is located on the pearl island of Phu Quoc, accessible within a 20-minute drive from Ong Lang Beach.

Prospects for value growth are strongly positive for all travel and tourism categories in Vietnam over the forecast period

The steps that Vietnam’s government and players have taken in recent years to develop, improve, expand and promote the country’s travel industry are expected to boost current value CAGRs by double digits in all categories over the forecast period. Online sales both direct and through intermediaries are set to grow exponentially with the ongoing advance of internet use and penetration.

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