HCM City: Tourism sector endures losses of over $426 mln in Q1

The HCM City Department of Tourism has estimated that the city’s tourism industry suffered losses worth close to $426.2 million in the first quarter of this year due to impacts of the COVID-19 pandemic.

HCM City: Tourism sector endures losses of over 426 mln USD in Q1 hinh anh 1

Bui Vien Street in Ho Chi Minh City, a location frequented by foreigners. 

The department’s data shows that the country’s southern metropolis welcomed just 1.3 million visitors during the first three months of the year, down 42.26 percent from a year earlier.


In March alone, tourist arrivals nosedived 84.23 percent year-on-year to about 117,000.

The department plans to further strengthen preventive measures against the widely-spreading disease to ensure safety for travellers in the second quarter.

It is working with the municipal Department of Science and Technology to explore how to develop community-based tourism in urban cultural spaces in the near future.

It also expects to launch a series of tourism stimulus programmes after the pandemic is over to help the industry recover.

Last year, HCM City was the most popular locality in Vietnam among foreign tourists during the first quarter.

The city welcomed a record high 2.25 million foreign tourists from January to March, up 10 percent year-on-year. The city attracted half the total number of foreign arrivals to Vietnam during the period, according to the municipal Department of Tourism.

Japan, the Republic of Korea, China and the US were the four biggest groups of foreigners visiting HCM City, helping it earn tourism revenue of 39.8 trillion VND during the period./.VNA

 
Tourism industry faces unprecedented crisis

Tourism industry faces unprecedented crisis

Since mid-March, officers of travel firms say that 99 percent of visitors to their offices have come to cancel tours.

Tourism industry calls for relief measures as coronavirus shuts down travel

Tourism industry calls for relief measures as coronavirus shuts down travel

The rapid spread of the novel coronavirus (COVID-19) has severely affected many industries, but tourism is arguably one of the hardest hit.

 
 

Other News

.
Vietnam sees greater budget transparency
Vietnam sees greater budget transparency
BUSINESSicon  01/07/2020 

Vietnam’s Open Budget Index (OBI) increased rapidly in 2019 compared to 2018, according to a survey released on July 1.

Administrative reforms would help unlock EVFTA's potential: EuroCham
Administrative reforms would help unlock EVFTA's potential: EuroCham
BUSINESSicon  01/07/2020 

 Administrative procedure reform is the key to unlocking the full potential of the Europe-Viet Nam Free Trade Agreement (EVFTA), said participants at a conference on Tuesday.

Nation’s economic forecast leads way
Nation’s economic forecast leads way
BUSINESSicon  01/07/2020 

With its success in fighting COVID-19, Vietnam has continued to be the best performer in Southeast Asia, laying a firm foundation for the country to attract more investment and spur on production.

HCM City seeks faster switch to cashless payment
HCM City seeks faster switch to cashless payment
BUSINESSicon  01/07/2020 

Nguyen Anh Duc, general director of Saigon Co.op, said the rate of cashless payment at its system, including Co.opmart, Co.opXtra, Co.op Food, and Co.op Smile, has increased sharply since last year from 3-5 percent to nearly 21 percent now.

A promising future for Vietnam after COVID-19
A promising future for Vietnam after COVID-19
BUSINESSicon  01/07/2020 

With an increasingly open business environment, and continuing international integration, Vietnam has long been regarded as a promising destination for foreign investment.

Mid-term rural, agricultural survey to begin on July 1
Mid-term rural, agricultural survey to begin on July 1
BUSINESSicon  01/07/2020 

A mid-term survey on rural areas and agriculture will be carried out in Vietnam’s 63 cities and provinces from July 1, the General Statistics Office (GSO) has announced.

Da Nang sees minus economic growth for first time in over 20 years
Da Nang sees minus economic growth for first time in over 20 years
BUSINESSicon  01/07/2020 

The central city of Da Nang saw its GRDP for the first half of the year contract by 3.61 percent from the same period in 2019, the first time since the city became a centrally-run locality in 1997.

Old barriers prevent Covid-19-hit businesses from accessing preferential loans
Old barriers prevent Covid-19-hit businesses from accessing preferential loans
BUSINESSicon  01/07/2020 

Small enterprises complain they cannot access the preferential lending program, while banks say hundreds of trillions of dong are ready for disbursement.

Vietnam Railways estimates a $60 million loss due to pandemic
Vietnam Railways estimates a $60 million loss due to pandemic
BUSINESSicon  30/06/2020 

Vietnam Railway Corporation (VNR) estimates a loss of nearly VND1.4 trillion (US$60 million) after tax in 2020, a massive blow to the company due to impacts of the COVID-19 pandemic.

Construction materials industry faces challenges
Construction materials industry faces challenges
BUSINESSicon  01/07/2020 

Thai Duy Sam, vice chairman of Vietnam Building Material Association, speaks  about challenges and shortcomings in production technology and environmental protection for the construction materials industry.

VN records positive growth amid gloomy global forecasts
VN records positive growth amid gloomy global forecasts
BUSINESSicon  30/06/2020 

Vietnam’s gross domestic product (GDP) expanded 1.81 per cent year-on-year during the first half of this year, the lowest six-month growth pace since 2011, according to the General Statistics Office (GSO).

Patents in Vietnam increase 56 percent
Patents in Vietnam increase 56 percent
BUSINESSicon  30/06/2020 

The number of patents has increased by 56.7 per cent in the first five months of this year compared to the same period last year.

EVFTA a big opportunity for firms after COVID-19 shock: ministry
EVFTA a big opportunity for firms after COVID-19 shock: ministry
BUSINESSicon  30/06/2020 

The European Union Free Trade Agreement (EVFTA) will create significant opportunities for Vietnamese firms to recover and develop after the COVID-19 pandemic, 

Kweichow Moutai: 'Elite' alcohol brand is China's most valuable firm
Kweichow Moutai: 'Elite' alcohol brand is China's most valuable firm
BUSINESSicon  30/06/2020 

Kweichow Moutai's share price rockets thanks to its popular and sought-after baijiu drink.

Exporters advised to shift focus to ASEAN markets in face of COVID-19
Exporters advised to shift focus to ASEAN markets in face of COVID-19
BUSINESSicon  30/06/2020 

Experts have urged Vietnamese exporters to shift their attention to neighbouring ASEAN markets given that COVID-19 continues to wreak havoc on major markets such as the EU and the US, a recent conference heard.

Cambodia yet to issue documents banning import of Vietnamese fruits, vegetables: ministry
Cambodia yet to issue documents banning import of Vietnamese fruits, vegetables: ministry
BUSINESSicon  30/06/2020 

The Cambodian government and management agencies have yet to issue any official documents banning the import of Vietnamese vegetables and fruits, according to the Asia-Africa Market Department under the Ministry of Industry and Trade.

Vietnam Airlines postpones shareholders’ meeting until July 16
Vietnam Airlines postpones shareholders’ meeting until July 16
BUSINESSicon  30/06/2020 

Vietnam Airlines Group will postpone its shareholders’ meeting until July 16, according to a decision signed by Chairman of Vietnam Airlines Executive Board Pham Ngoc Minh.

Selling online: new opportunity for VN micro businesses
Selling online: new opportunity for VN micro businesses
BUSINESSicon  01/07/2020 

The ‘e-commerce wave’ has opened a new consumption trend in which anyone can create a platform of their own to start a business.

Aviation sector restores nearly all domestic flights
Aviation sector restores nearly all domestic flights
BUSINESSicon  30/06/2020 

Airlines restored most of the domestic flight network after the social distancing campaign ended, and is considering resuming international flights with countries that have controlled COVID-19 well.

Cheap cars from Thailand, Indonesia expected to flow into Vietnam
Cheap cars from Thailand, Indonesia expected to flow into Vietnam
BUSINESSicon  30/06/2020 

More and more cheap cars will flood the Vietnamese market in upcoming months as automobile manufacturers in Thailand and Indonesia have urged their governments to apply measures to boost car exports.

 
 
 
Leave your comment on an article

OR QUICK LOGIN