Tourism has generated an estimated VND505 trillion, or some US$21.5 billion, in revenue in the year to October, rising some 21% year-on-year. This achievement is nearly equivalent to the figure of VND510 trillion for all of 2017, according to the General Statistics Office (GSO).

A local tour operator’s employee (R) is seen discussing opportunities to bring foreign tourists to Vietnam with a foreign business partner

Data from the GSO shows that more than 1.2 million foreign tourists have visited Vietnam this month, rising some 17% versus the same period last year and helping raise the total number of international visitors during the January-October period to nearly 13 million people, up 22% against the 2017 figure.

International tourists have contributed nearly 60% of the sector’s revenue. Thus, the significant growth of this tourist segment has brought hefty profits for the hospitality industry over the years.

However, aside from the two largest source markets for local tourism, South Korea and China, arrivals from other markets have seen only modest growth, according to the GSO.

Visitors from Japan, Taiwan, the United States and Russia have recorded growth rates of 3.9%, 14.8%, 13.9% and 8.4%, respectively, this year.

Meanwhile, Vietnam has witnessed a year-on-year increase of nearly 29% in the volume of Chinese visitors to the country, exceeding four million arrivals, while South Korean tourist arrivals have amounted to 2.8 million, up some 48% against the year-ago figure. 

The rapid growth of arrivals from the two source markets has tilted the focus of the local tourism sector toward the Asian market. Asian visitors between January and September accounted for 77.7% of international tourist arrivals, rising to 77.9% just one month later.

SGT