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Report
Vietnam Travel & Tourism Market By Service Offering (Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Travel Insurance, Foreign Exchange, Conference/Trade Fair Services/MICE and Others), By Type (Domestic, Inbound, Outbound), By Purpose of Visit (Business, Leisure & Recreation, Education, Medical, Social Activity and Others), By Region, Competition Forecast & Opportunities, 2020-2030F
Market Report I 2025-02-28 I 81 Pages I TechSci Research
Vietnam Travel & Tourism market was valued at USD 17.90 billion in 2024 and is expected to reach USD 42.01 billion by 2030 with a CAGR of 15.34% during the forecast period. 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. 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.
Key Market Drivers
Government Initiatives and Policy Support
Vietnam's government has taken decisive steps to rejuvenate its tourism industry. By implementing measures such as lengthening the duration of visa exemptions and bringing back the option for three-month tourist visas, they anticipate a substantial increase in foreign visitors. These initiatives are part of a broader strategy to make Vietnam a more attractive destination for international travelers. Furthermore, the government is placing a strong emphasis on leveraging digital technology to modernize its tourism marketing efforts. This digital push is expected to make the country's tourism offerings more accessible and appealing to a global audience, thereby stimulating the sector's growth. The combination of eased travel restrictions and advanced marketing techniques positions Vietnam as a forward-thinking nation ready to welcome the world's travelers once again. In 2023, the government released Resolution No. 82/NQ-CP on tourist promotion and the National Assembly's (NA) visa policy as a stimulus for the tourism industry to revive and develop.
Key Market Challenges
Sustainability Issues
Vietnam's tourism industry is grappling with significant sustainability issues that threaten its future. The rapid growth in tourism has led to environmental concerns, such as habitat destruction, water pollution, and strain on local resources. These challenges are not only ecological but also social, impacting the quality of life for residents and the overall visitor experience. To ensure the sector's resilience, a multifaceted approach is needed. This includes implementing eco-friendly practices, promoting responsible tourism, and engaging local communities in conservation efforts. Investments in sustainable infrastructure and stricter regulations can also mitigate negative impacts. By prioritizing sustainability, Vietnam can protect its natural and cultural heritage while fostering a thriving tourism economy. The success of these measures will be critical in maintaining the allure of Vietnam as a premier travel destination.
Key Market Players
- Viet Vision Travel & Trading JSC
- Lily's Travel Agency
- Hello Vietnam Travel
- Vietnam Amazing Tours
- Deluxe Vietnam Tours Co.,Ltd.
- Get Up and Go Vietnam
- Vietnam Escape Tours
- Threeland Travel
- Vietnam Adventure Tour
- Phu Quoc Island Explorer
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 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 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. Introduction
1.1. Service Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. Voice of Customer
4.1. Factors Influencing Purchase Decision
4.2. Sources of Information
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 Service Offering Market Share Analysis (Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Travel Insurance, Foreign Exchange, Conference/Trade Fair Services/MICE and Others)
5.2.2. By Type Market Share Analysis (Domestic, Inbound, Outbound)
5.2.3. By Purpose of Visit Market Share Analysis (Business, Leisure & Recreation, Education, Medical, Social Activity, Others)
5.2.4. By Regional Market Share Analysis
5.2.4.1. Northern Region Market Share Analysis
5.2.4.2. Central Region Market Share Analysis
5.2.4.3. Southern Region Market Share Analysis
5.2.5. By Top 5 Companies Market Share Analysis, Others (2024)
5.3. Vietnam Travel & Tourism Market Mapping & Opportunity Assessment
5.3.1. By Service Offering Market Mapping & Opportunity Assessment
5.3.2. By Type Market Mapping & Opportunity Assessment
5.3.3. By Purpose of Visit Market Mapping & Opportunity Assessment
5.3.4. By Regional Market Mapping & Opportunity Assessment
6. Vietnam Domestic Travel & Tourism Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Service Offering Market Share Analysis
6.2.2. By Purpose of Visit Market Share Analysis
7. Vietnam Inbound Travel & Tourism Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Service Offering Market Share Analysis
7.2.3. By Purpose of Visit Market Share Analysis
8. Vietnam Outbound Travel & Tourism Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Service Offering Market Share Analysis
8.2.3. By Purpose of Visit Market Share Analysis
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Impact of COVID-19 on Vietnam Travel & Tourism Market
10.1. Impact Assessment Model
10.1.1. Key Segments Impacted
10.1.2. Key Regions Impacted
11. Market Trends & Developments
12. Porter's Five Forces Model
12.1. Competitive Rivalry
12.2. Bargaining Power of Buyers
12.3. Bargaining Power of Suppliers
12.4. Threat of New Entrants
12.5. Threat of Substitutes
13. SWOT Analysis
13.1. Strengths
13.2. Weaknesses
13.3. Opportunities
13.4. Threats
14. Policy and Regulatory Landscape
15. Vietnam Economic Profile
16. Competitive Landscape
16.1. Company Profiles
16.1.1. Viet Vision Travel & Trading JSC
16.1.1.1. Company Details
16.1.1.2. Service Offering & Services
16.1.1.3. Financials (As Per Availability)
16.1.1.4. Key market Focus & Geographical Presence
16.1.1.5. Recent Developments
16.1.1.6. Key Management Personnel
16.1.2. Lily's Travel Agency
16.1.2.1. Company Details
16.1.2.2. Service Offering & Services
16.1.2.3. Financials (As Per Availability)
16.1.2.4. Key market Focus & Geographical Presence
16.1.2.5. Recent Developments
16.1.2.6. Key Management Personnel
16.1.3. Hello Vietnam Travel
16.1.3.1. Company Details
16.1.3.2. Service Offering & Services
16.1.3.3. Financials (As Per Availability)
16.1.3.4. Key market Focus & Geographical Presence
16.1.3.5. Recent Developments
16.1.3.6. Key Management Personnel
16.1.4. Vietnam Amazing Tours
16.1.4.1. Company Details
16.1.4.2. Service Offering & Services
16.1.4.3. Financials (As Per Availability)
16.1.4.4. Key market Focus & Geographical Presence
16.1.4.5. Recent Developments
16.1.4.6. Key Management Personnel
16.1.5. Deluxe Vietnam Tours Co.,Ltd.
16.1.5.1. Company Details
16.1.5.2. Service Offering & Services
16.1.5.3. Financials (As Per Availability)
16.1.5.4. Key market Focus & Geographical Presence
16.1.5.5. Recent Developments
16.1.5.6. Key Management Personnel
16.1.6. Get Up and Go Vietnam
16.1.6.1. Company Details
16.1.6.2. Service Offering & Services
16.1.6.3. Financials (As Per Availability)
16.1.6.4. Key market Focus & Geographical Presence
16.1.6.5. Recent Developments
16.1.6.6. Key Management Personnel
16.1.7. Vietnam Escape Tours
16.1.7.1. Company Details
16.1.7.2. Service Offering & Services
16.1.7.3. Financials (As Per Availability)
16.1.7.4. Key market Focus & Geographical Presence
16.1.7.5. Recent Developments
16.1.7.6. Key Management Personnel
16.1.8. Threeland Travel
16.1.8.1. Company Details
16.1.8.2. Service Offering & Services
16.1.8.3. Financials (As Per Availability)
16.1.8.4. Key market Focus & Geographical Presence
16.1.8.5. Recent Developments
16.1.8.6. Key Management Personnel
16.1.9. Vietnam Adventure Tour
16.1.9.1. Company Details
16.1.9.2. Service Offering & Services
16.1.9.3. Financials (As Per Availability)
16.1.9.4. Key market Focus & Geographical Presence
16.1.9.5. Recent Developments
16.1.9.6. Key Management Personnel
16.1.10. Phu Quoc Island Explorer
16.1.10.1. Company Details
16.1.10.2. Service Offering & Services
16.1.10.3. Financials (As Per Availability)
16.1.10.4. Key market Focus & Geographical Presence
16.1.10.5. Recent Developments
16.1.10.6. Key Management Personnel
17. Strategic Recommendations
17.1. Key Focus Areas
17.2. Target Type
17.3. Target Purpose of Visit
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