Vietnam Travel & Tourism Market to Grow with a CAGR of 15.34% through 2030
Ongoing infrastructure
developments and favorable business set-up opportunities for market players are
driving the growth of the Vietnam Travel & Tourism Market in the forecast
period.
According
to TechSci Research report, “Vietnam Travel & Tourism Market – By Region, Competition,
Forecast & Opportunities, 2030F”, the Vietnam Travel & Tourism market
stood at USD 17.90 billion in 2024 and is anticipated to grow USD 42.01 billion
by 2030 with a CAGR 15.34% during
forecast period. Vietnam’s travel and tourism market has witnessed
remarkable growth over the past decade, driven by increasing international
arrivals, a booming domestic tourism sector, and significant investments in
infrastructure. The country’s rich cultural heritage, breathtaking landscapes,
and diverse cuisine make it a sought-after destination for travelers worldwide.
The Vietnamese government has actively promoted tourism through strategic
policies, visa exemptions, and collaborations with international organizations
to boost the sector. As a result, Vietnam has become one of the fastest-growing
travel markets in Southeast Asia, attracting millions of visitors annually.
International tourist arrivals in
Vietnam have surged, with travelers from China, South Korea, Japan, and Western
countries showing strong interest in the country’s offerings. Attractions such
as Ha Long Bay, Hoi An Ancient Town, and the Mekong Delta continue to be major
draws. Additionally, Vietnam’s reputation as an affordable destination with
high-quality hospitality services has made it a favorite among budget travelers
and luxury tourists alike.
Alongside international tourism,
domestic travel has also experienced rapid growth. Vietnam’s rising middle
class and increasing disposable incomes have contributed to a surge in local
travel demand. Popular destinations such as Da Nang, Phu Quoc, and Sapa are
witnessing higher footfalls, supported by improved connectivity and affordable
travel options. Domestic tourists are exploring not only well-known cities but
also lesser-known eco-tourism spots, boosting revenue in various regions.
Vietnam is heavily investing in tourism
infrastructure to accommodate the rising number of visitors. Airports are being
expanded, new highways are being constructed, and modern rail networks are
being developed to improve connectivity across the country. Major cities such
as Hanoi, Ho Chi Minh City, and Da Nang are witnessing the construction of
world-class hotels, resorts, and entertainment complexes to enhance visitor
experience.
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" Vietnam Travel & Tourism Market”
The Vietnam Travel
& Tourism market is segmented into service offering, type, purpose of visit,
regional distribution, and company.
Based on the type,
the outbound segment is the fastest growing in Vietnam’s travel and tourism
market, driven by rising disposable incomes, a growing middle class, and
increasing international travel aspirations. Vietnamese travelers are exploring
destinations across Asia, Europe, and the Americas, seeking cultural
experiences, shopping, and leisure activities. Improved access to visas,
competitive airfare, and tailored travel packages have further fueled outbound
tourism. Popular destinations include Thailand, South Korea, Japan, and France.
Additionally, digital platforms and online travel agencies make international
travel more accessible. As outbound travel demand rises, airlines and tour
operators are expanding offerings to cater to Vietnam’s rapidly evolving travel
preferences.
Based on region,
the Southern region is the fastest-growing area in Vietnam’s travel and tourism
market, driven by vibrant cities, coastal destinations, and expanding
infrastructure. Ho Chi Minh City serves as a major gateway for international
tourists, offering rich cultural experiences, modern attractions, and a
thriving nightlife. Popular destinations like Phu Quoc and Vung Tau are
witnessing increased investments in luxury resorts, entertainment facilities,
and eco-tourism projects. Improved transportation networks, including new
airports and highways, enhance accessibility, attracting more visitors. The
government’s focus on sustainable tourism and promotional campaigns further
boosts the region’s appeal, making it a key driver of Vietnam’s tourism growth.
Major companies
operating in Vietnam Travel & Tourism market are:
- 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
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“The
rise of digital travel platforms has transformed how travelers plan and book
their trips. Online travel agencies (OTAs) and mobile booking applications have
gained popularity, providing tourists with easy access to flights,
accommodations, and tour packages. Another major trend is the growing demand
for sustainable and eco-tourism experiences. Travelers are increasingly seeking
destinations that offer responsible tourism practices, such as community-based
tourism, eco-friendly accommodations, and cultural immersion experiences.
Vietnam’s natural landscapes, national parks, and UNESCO-listed heritage sites
provide ample opportunities for sustainable tourism development”, said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
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”,
has evaluated the future growth potential of Vietnam Travel & Tourism market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Vietnam Travel & Tourism market.
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