Consumer spending in Vietnam is expected to grow strongly over the next two years, supported by robust economic growth, higher disposable incomes and a solid labour market, according to the latest forecast from BMI, a Fitch Solutions company.

VOV.VN - While Vietnam’s tourism industry is witnessing a strong recovery with growing numbers of international arrivals, the share of luxury travelers with high spending capacity and sophisticated expectations remains modest.

VOV.VN - Given the tightening of consumer spending and their focus on value-driven choices, many businesses have launched attractive promotional programs running until the end of the year to stimulate consumption and econmic growth.

Vietnamese tourists continue to have a strong passion for travel, valuing precious time spent with friends and family, according to digital travel platform Agoda’s latest study.

The state budget revenue topped VND1.8 quadrillion (US$71 billion) in the first 11 months of this year, equivalent to 106.3% of this year's target and up 16.1% from the same period from 2023, the Ministry of Finance reported on December 4.

Vietnamese authorities and businesses are rolling out comprehensive promotion programmes to boost consumer spending for the upcoming Tet holiday (Lunar New Year).

The Republic of Korea's tourism spending on accommodation in Vietnam surged to 21% of total expenditure in the first half of 2024, representing a jump of over 60% from the previous year, according to the Visa Consulting and Analytics team.

Ho Chi Minh City will accelerate public spending, stimulate consumption, and expand export markets to achieve a growth rate of 7.5% this year, its leader has said.

An estimated VND399.4 trillion (nearly US$16.18 billion) was collected for the state budget in the first two months of 2024, equivalent to 23.5% of the year’s target and up 10.4% from a year earlier, the Ministry of Finance reported on March 6.

VOV.VN - Tourists from the Philippines make up the biggest spenders, with their spending rising from US$1,124 in 2017 to US$2,257 in 2019 per trip during their trip to Vietnam.