Tourism rebound drives Vietnam’s post-pandemic economic recovery
Vietnam’s tourism sector is set to witness strong growth in the next five years, with international tourism arrivals expected to surpass pre-pandemic levels in 2024, according to The Business Times of Singapore.
The daily cited Fitch Solutions’ latest report as saying that Vietnam’s tourism sector is forecast to record US$11.1 billion in revenue in 2024, which would exceed the US$10.8 billion earned in 2019, before the COVID-19 pandemic broke out. The takings are projected to rise to around US$13.2 billion by 2026, with more than 22 million arrivals in the country.
Like many other countries in the region and beyond, Vietnam closed most of its border gates in 2020 and 2021, before reopening to foreign visitors last March.
Noemi Perez, General Manager of Melia Ba Vi Mountain Retreat, said the country’s flexible response policy has given foreign tourists more entry advantages, and that they assessed Vietnam as one of the countries with convenient entry procedures, a safe environment, and many places to visit.
After the pandemic, Vietnam is increasing incentives to gradually make up for losses in the pandemic.
Data from Google Destination Insights show that Vietnam is among the leading international destinations where accommodation demand surges this year. There are an estimated 100 hotel projects currently under construction in the country.
Observers held that this is a strong signal indicating that this market will continue growing in the coming years, The Business Times reported.