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Report
Vietnam Travel & Tourism Market By Product/Service Offering (Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Travel Insurance, Foreign Exchange, Conference/Trade Fair Services/MICE and Others), By Destination (Domestic, Inbound, Outbound), By Purpose of Visit (Business, Leisure & Recreation, Education, Medical, Social Activity and Others), By Tourist Profile (Indians Vs, Foreign Nationals), By Average Duration of Stay, By Region, Competition Forecast & Opportunities, 2027
Market Report I 2023-01-01 I 79 Pages I TechSci Research
Vietnam travel & tourism market is anticipated to grow at a rate of steady CAGR for the forecast period, 2023-2027. Strong economic growth, supportive government policies, increase in competition among market players, and adoption of attractive marketing and promotional strategies by market players are the key factors driving the growth of the Vietnam travel & tourism market in the forecast period.
Flourishing Domestic Tourism Supports the Market Growth
Tourism is considered as one of the most prominent revenues producing industries in Vietnam, and the economy is majorly dependent on domestic traveling to generate significant income sources. The rise in disposable income of consumers enables them to afford domestic traveling as many international countries have closed their international borders for people belonging to other nationalities. Domestic traveling is expected to grow at a rapid rate and is expected to recover the amount in a short time due to increasing domestic spending by consumers and the launch of attractive and affordable tourist packages by market players. Local tourism can be boosted by focusing on developing emerging destinations with cooperation from local authorities, online travel agencies, hotels, and airlines. Outdoor tourism, which involves mountains, beaches, sunshine, nature, were among the top choices for Vietnamese travelers after the lockdown restrictions were relaxed. The travel & tourism industry is rapidly evolving with time, and with relaxations in international traveling and vaccination facilities, the industry is expected to witness growth opportunities in the forecast period.
International Tourism Industry Generates Significant Revenue Sources
International tourists comprise a smaller number of tourists than local tourists, but they account for more than half of tourism spending for the country. The growing tourism industry generates a large number of job opportunities for the people and supports the food and beverage and the retail sector. The majority of tourists visiting Vietnam are from Asian countries, with those from Taiwan, Japan, South Korea, and China, as the country has strong economic ties with these countries. The government of Vietnam is adopting a zero-case-first strategy as it covers the countries having relatively lower COVID-19 transmission rates to gain the traveler's confidence and accelerate the number of foreign visitors in the country. Investments by market players to boost the number of travelers from these countries and offer affordable and quality services to international tourists is expected to bolster the Vietnam travel & tourism market growth in the forecast period.
Adoption Of Online Sales Platform by Market Player Drives Market Growth
Market players are investing in adopting the online sales platform for the consumer base by reaching a wider audience. The presence of interactive websites and mobile applications offering lucrative traveling packages to consumers and 24*7 customer support to solve customer queries is expected to drive the Vietnam travel & tourism market growth. Travelers and tourists could avail customized travel plans according to their convenience, budget, and requirements. Market players are also offering the tourists to visit the tourist places virtually, make the right decisions about the places they want to visit, and choose the suitable traveling mode for the destination.
Market Segmentation
The Vietnam travel & tourism market is segmented into product/service offering, type, purpose of visit, tourist profile, average duration of stay, regional distribution, and company. Based on the product/service offering, the market is divided into ticket reservation, hotel booking, holiday/tour packages, travel insurance, foreign exchange, conference/trade fair services/MICE and others. Based on type, the market is divided into domestic, inbound and outbound. Based on the purpose of visit, the market is divided into business, leisure & recreation, education, medical, social activity, and others. Based on tourist profile, the market is segmented into Indians and foreign nationals. To analyze the market based on the region, the Vietnam Travel & Tourism market is studied in major regions namely Northern region, Southern region, and Central region.
Market Players
Viet Vision Travel, Lily's Travel Agency, Hello Laos Travel, Amazing Tour Vietnam, Green Era Travel, Get Up and Go Vietnam Travel Company, Exodus Travels, Threeland Travel, Vietnam Adventure Tours, Phu Quoc Island Explorer, are among the major market players in the Vietnam that lead the market growth of the Vietnam Travel & Tourism market.
Report Scope:
In this report, Vietnam Travel & Tourism market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Vietnam Travel & Tourism Market, By Product /Service Offering:
o Ticket Reservation
o Hotel Booking
o Holiday/Tour Packages
o Travel Insurance
o Foreign Exchange
o Conference/Trade Fair/MICE
o Others
- Vietnam Travel & Tourism Market, By Type:
o Domestic
o Inbound
o Outbound
- Vietnam Travel & Tourism Market, By Purpose of Visit:
o Business
o Leisure & Recreation
o Education
o Medical
o Social Activity
o Others
- Vietnam Travel & Tourism Market, By Tourist Profile:
o Indians
o Foreign Nationals
- Vietnam Travel & Tourism Market, By Average Duration of Stay:
o Number of Days
- Vietnam Travel & Tourism Market, By Region:
o Northern
o Southern
o Central
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Vietnam Travel & Tourism market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Travel & Tourism - An Introduction
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Frequency of Travel
4.2. Brand Awareness
4.3. Brand Preference
4.4. Challenges Faced by Customers
5. Vietnam Travel & Tourism Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Product/Service Offering (Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Travel Insurance, Foreign Exchange, Conference/Trade Fair/MICE and Others)
5.2.2. By Type (Domestic, Inbound and Outbound)
5.2.3. By Purpose of Visit (Business, Leisure & Recreation, Education, Medical, Social Activity and Others)
5.2.4. By Tourist Profile (Indians and Foreign Nationals)
5.2.5. By Average Duration of Stay (Number of Days)
5.2.6. By Region
5.2.6.1. By Tourist Profile (Nationality)
5.2.6.2. By Purpose of Visit (Business, Leisure & Recreation, Education, Medical, Social Activity & Others)
5.2.6.3. By Average Duration of Stay (Number of Days)
5.2.6.4. By Urban Vs. Rural Tourism
5.2.6.5. By Leading City
5.3. Market Map (By Type, By Product/Service Offering, By Purpose of Visit and By Region)
6. Vietnam Leisure & Recreation Travel & Tourism Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Average Duration of Stay
6.2.2. By Type
6.2.3. By Tourist Profile
7. Vietnam Religious Travel & Tourism Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Average Duration of Stay
7.2.2. By Type
7.2.3. By Tourist Profile
8. Vietnam Business Travel & Tourism Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Average Duration of Stay
8.2.2. By Type
8.2.3. By Tourist Profile
9. Vietnam Social Travel & Tourism Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Average Duration of Stay
9.2.2. By Type
9.2.3. By Tourist Profile
10. Vietnam Medical Travel & Tourism Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Average Duration of Stay
10.2.2. By Type
10.2.3. By Tourist Profile
11. Vietnam Education Travel & Tourism Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Average Duration of Stay
11.2.2. By Type
11.2.3. By Tourist Profile
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. SWOT Analysis
15. Policy & Regulatory Landscape (Government Initiatives & Support Measures)
16. Vietnam Economic Profile
17. Competitive Landscape
17.1. Competition Outlook
17.2. Company Profiles (10 Leading Company Profiles)
17.2.1. Viet Vision Travel
17.2.2. Lily's Travel Agency
17.2.3. Hello Laos Travel
17.2.4. Amazing Tour Vietnam
17.2.5. Green Era Travel
17.2.6. Get Up and Go Vietnam Travel Company
17.2.7. Exodus Travels
17.2.8. Threeland Travel
17.2.9. Vietnam Adventure Tours
17.2.10. Phu Quoc Island Explorer
18. Strategic Recommendations
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