Vietnam’s tourism sector is gearing up for a strong rebound in 2024, with industry experts forecasting a busy travel season ahead. Several key factors, including the return of Russian tourists, infrastructure developments, and booming cruise and MICE tourism, are driving this positive outlook.
Russian Tourists Return, Boosting Coastal Tourism
One of the most promising signs for the sector is the return of Russian tourists, a crucial market absent for the past three years. In March alone, 12 charter flights are scheduled to bring Russian visitors to Nha Trang, a popular beach city in Khanh Hoa province. This number is expected to rise sharply, with 50-55 flights per month from April to June and up to 90-100 flights monthly from July onward.
Before the COVID-19 pandemic, Russian visitors were a significant contributor to Khanh Hoa’s tourism industry. However, direct flights were halted in 2022, forcing travelers to transit through China or Kazakhstan. The resumption of direct flights is now fueling a resurgence in shopping, dining, and entertainment in Nha Trang and other coastal destinations.
New Free Trade Zones to Enhance Tourism
The Vietnamese government is also taking steps to attract international visitors through economic incentives. Prime Minister Pham Minh Chinh has approved the development of free trade zones (FTZs) in Da Nang and Can Gio district in Ho Chi Minh City. Additionally, Long Thanh district in Dong Nai province has proposed an FTZ near Long Thanh International Airport and Phuoc An port. These zones are expected to attract business travelers, boost shopping tourism, and create new entertainment hubs.
Meanwhile, infrastructure developments such as the upcoming completion of the North-South Expressway will significantly improve road travel, making tourist destinations more accessible to both domestic and international visitors.
Cruise and MICE Tourism on the Rise
Vietnam’s cruise tourism industry is experiencing a surge, with major tour operators welcoming tens of thousands of passengers to iconic destinations like Ha Long Bay, Nha Trang, Phu Quoc, and Ho Chi Minh City. The Meetings, Incentives, Conferences, and Exhibitions (MICE) sector is also thriving, highlighted by corporate trips from leading Indian businesses. Notably, Vietnam has emerged as a premier destination for extravagant Indian billionaire weddings, with recent ceremonies held in Ha Long Bay and Phu Quoc drawing international attention.
Tourism Revenue and Growth Targets
Vietnam’s tourism sector recorded an impressive revenue of approximately 840 trillion VND (32.96 billion USD) in 2024, surpassing pre-pandemic levels. This marks an increase of 85 trillion VND compared to 2019.
Looking ahead, Vietnam aims to attract 22-23 million international tourists and 120-130 million domestic travelers in 2025, with projected revenue reaching 980 trillion to 1.05 quadrillion VND. These ambitious goals reflect the country’s commitment to solidifying its position as a top travel destination in Southeast Asia.
With the return of key tourist markets, government-backed economic initiatives, and growing demand for cruise and MICE tourism, Vietnam’s travel sector is set for a remarkable acceleration. As infrastructure projects near completion and international interest continues to rise, 2024 is shaping up to be a transformative year for Vietnamese tourism.
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