Report

Vietnam travel & tourism market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the supportive government policies to encourage tourism in the country and an increasing number of attractive marketing and promotional strategies by market players. Besides, a rise in competition among market players and strong economic growth are contributing to the Vietnam travel & tourism market.
Tourism is one of Vietnam's most important revenue-generating industries, and the economy relies heavily on domestic travel to generate significant income. Consumers' disposable income has increased, allowing them to afford domestic travel. Domestic travel is expected to grow rapidly and quickly recover after pandemic due to increased domestic spending by consumers and the launch of attractive and affordable tourist packages by market players.
Local tourism can be increased by focusing on developing emerging destinations with the help of local governments, online travel agencies, hotels, and airlines. After the lockdown restrictions were lifted, outdoor tourism, which includes mountains, beaches, sunshine, and nature, was among the top choices for Vietnamese visitors. The travel and tourism industry is rapidly evolving, and with changes in international travel and vaccination requirements, the industry is expected to see growth opportunities during the forecast period.

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 growth of the Vietnam travel & tourism market. 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.
The Vietnam travel & tourism market segmentation is based on product/service offering, destination, the purpose of visit, 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, visa services, conference/trade fair services, and others. The holiday/tour packages segment is anticipated to dominate the Vietnam travel & tourism market, owing to high investments by leading authorities for the transformation of the tourist industry and ongoing infrastructure developments in the country.
Key players operating in the Vietnam travel & tourism are 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, among others.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
Objective of the Study:
- To analyze the historical growth in the market size of the Vietnam Travel & Tourism market from 2017 to 2021.
- To estimate and forecast the market size of Vietnam Travel & Tourism market from 2023 to 2027 and growth rate until 2027.
- To classify and forecast the Vietnam Travel & Tourism market based on product /service offering, destination, purpose of visit, region, and company.
- To identify the dominant region or segment in the Vietnam Travel & Tourism market.
- To identify drivers and challenges for the Vietnam Travel & Tourism market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Vietnam Travel & Tourism market.
- To identify and analyze the profiles of leading players operating in the Vietnam Travel & Tourism market.
- To identify key sustainable strategies adopted by market players in Vietnam Travel & Tourism market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of the Vietnam Travel & Tourism market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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 Visa Services
o Conference/Trade Fair Services
o Others
- Vietnam Travel & Tourism Market, By Destination:
o Domestic Tourist
o International Tourist
- 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 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).