International arrivals in Vietnam expected to grow in 2024
The volume of international arrivals in Vietnam is forecast to increase in 2024, said The Outbox Company in a report titled “Vietnam Travel Landscape 2024” released on January 17.
According to the Vietnam-based market intelligence company, the country’s aviation industry has bounced back impressively since the travel restrictions triggered by COVID-19 were relaxed in the country and the world. Vietnam has quickly become the world’s fastest recovering domestic aviation market and is expected to establish itself as the fifth fastest developing one by 2035.
Despite challenges in 2022 and surging costs in 2023, the hospitality industry has also shown resilience. For example, a higher occupancy rate and basic efficiency are also considered positive signals for 2024. Hotel bookings are rising strongly, and the hotel investment market is now in the process of full recovery, the firm said.
Given such signals, the travel landscape in 2024 is following such main trends as experiential tourism, wellness tourism, eco-tourism, and sports tourism. Tourists’ growing preference for the brands matching personal value and ethics will change the market.
In particular, the trend of using smart guides and ChatGPT in tourism will help boost the stature of travel agents, the report noted.
Talking about Vietnam’s tourism achievements in 2023, The Outbox Company said the tourism industry has demonstrated a significant recovery, with a remarkable increase in international tourist arrivals to reach 12.59 million, soaring almost four-fold from 2022.
However, the recovery rate of Vietnam in the first three quarters of 2023 stood at 44% of pre-pandemic levels, the lowest among popular Southeast Asian destinations. The absence of Chinese tourists remains a significant factor in the lower numbers.
A bright spot of Vietnam’s tourism industry in 2023 was the diversity of international tourist sources, from emerging markets to niche ones, helping increase foreign visitors to the country. Besides tourists from East Asian markets like China and the Republic of Korea, there is the potential of those from some other regions.
In particular, India is emerging as an attractive market for Vietnam’s tourism industry, as the wealth and interest in tourism of the middle class in the South Asian country is on the rise. India's outbound tourism is predicted to grow considerably. If the industry increases measures for tapping into this market such as easing the visa policy and adjusting services, it can enhance the attractiveness to Indian visitors, the company added.
