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Tourism business in Vietnam

Vietnam like many countries which are experiencing astronomical growth is a country where tourism is booming. According to the official numbers, the south Asian country received almost 10 million foreign visitors during the first 7 months of 2019. This is a 8% year on year increase.

The Vietnam National Tourism Administration, which is the government agency of Vietnam which manages tourist operations and activities throughout the country, is now implementing all its know-how to attract many more tourists every year.

In terms of tourism, Vietnam is becoming over time a serious competitor to Thailand. The rivalry between the Asian countries to get as many tourists as possible is at its maximum. The objective is not necessarily to attract as many tourists as possible but instead focusing on tourists who have the more cash to spend. Vietnam is a country that still has lots of unexplored and new tourism locations and the country’s strategy is to focus on tourism coming from key markets such as China, South Korea and Japan.

The total number of foreign tourists targeted by the Vietnam National Tourism Administration for the whole year 2019 is 18 million. The original objective set up a couple of years ago was to reach 20 million foreign tourists by 2020. This should be reached next year.

It is worth noticing that when Vietnamese officials set up targets (and they always do) they tend to regularly reach or even exceed the objectives. It is true for tourism but it is also true when it comes to other more global objectives such as economic growth or increasing average incomes for instance.

If you are interested in investing in Vietnam, just contact us at info@anhthomas.com.

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