Travel & Tourism - Vietnam

  • Vietnam
  • Vietnam's Travel & Tourism market is expected to experience a significant growth in the upcoming years.
  • By 2024, the projected revenue in this market is estimated to reach €3,016.00m.
  • Furthermore, the market is predicted to exhibit an impressive annual growth rate (CAGR 2024-2029) of 5.90%, culminating in a projected market volume of €4,017.00m by 2029.
  • The largest market in Vietnam's Travel & Tourism market is the Hotels market, with a projected market volume of €1,467.00m in 2024.
  • The number of users in this market is expected to increase to 20,120.00k users by 2029, with a user penetration of 13.7% in 2024 and a projected increase to 21.1% by 2029.
  • The average revenue per user (ARPU) is expected to be €221.80 in this market.
  • Moreover, it is projected that 66% of the total revenue in Vietnam's Travel & Tourism market will be generated through online sales by 2029.
  • In terms of global comparison, United States is estimated to generate the most revenue in this market, with €199bn in 2024.
  • Vietnam's Travel & Tourism market is experiencing growth due to its stunning natural beauty, rich history, and diverse cultural offerings.

Key regions: Malaysia, Europe, Singapore, Vietnam, United States

 
Marché
 
Région
 
Comparaison de régions
 
Monnaie
 

Analyst Opinion

Vietnam's Travel & Tourism market is experiencing significant growth and development, driven by various factors that are shaping the industry in the country.

Customer preferences:
Travelers in Vietnam are increasingly seeking authentic and unique experiences, moving away from traditional tourist hotspots to explore off-the-beaten-path destinations. There is a growing interest in eco-tourism, cultural experiences, and adventure activities among both domestic and international tourists.

Trends in the market:
One of the notable trends in the Vietnamese Travel & Tourism market is the rise of digital platforms and online travel agencies. With the increasing internet penetration and smartphone usage in the country, travelers are turning to online channels to research, plan, and book their trips. This shift towards digital platforms is not only streamlining the booking process but also providing travelers with more options and flexibility.

Local special circumstances:
Vietnam's diverse landscapes, rich history, and vibrant culture make it a unique destination for travelers. The country offers a mix of experiences ranging from bustling city life in Hanoi and Ho Chi Minh City to serene beaches in Da Nang and Phu Quoc, as well as stunning natural wonders like Ha Long Bay. This diversity attracts a wide range of tourists with different interests and preferences, contributing to the overall growth of the Travel & Tourism market.

Underlying macroeconomic factors:
The steady economic growth in Vietnam, coupled with increasing disposable incomes among the middle-class population, has fueled the demand for travel and tourism services. As more Vietnamese have the financial means to explore both domestically and internationally, the industry is witnessing a surge in both inbound and outbound tourism. Additionally, government initiatives to promote tourism, improve infrastructure, and simplify visa procedures are further supporting the growth of the Travel & Tourism market in Vietnam.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

Vue d’ensemble

  • Revenue
  • Sales Channels
  • Analyst Opinion
  • Users
  • Travel Behavior
  • User Demographics
  • Global Comparison
  • Methodology
  • Key Market Indicators
Veuillez patienter

Contact

Des questions ? Nous nous ferons un plaisir de vous aider.
Statista Locations
Contact Camille Dubois
Camille Dubois
Customer Relations

Lun - Ven, 9:00 - 18:00 h (EST)

Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (États-Unis)

Lun - Ven, 9:00 - 18:00 h (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asie)

Lun - Ven, 9:00 - 17:00 h (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asie)

Lun - Ven, 10:00 - 18:00 h (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Lun - Ven, 9:00 - 18:00 h (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Amérique latine)

Lun - Ven, 9:00 - 18:00 h (EST)