Tourists on cyclos visiting Hoàn Kiếm Lake in Hà Nội. The total revenue from tourism in 2024 is estimated to reach around VNĐ840 trillion (US$34.4 billion). VNA/VNS Photo Thanh Tùng

The Việt Nam National Administration of Tourism (Ministry of Culture, Sports and Tourism) reports that in January 2024, the number of international visitors to Việt Nam exceeded 1.5 million, a 10.3 per cent increase compared to the previous month and a remarkable 73.6 per cent increase compared to the same period in 2023.

This surge is the highest since Việt Nam reopened for tourism in March 2022, equivalent to the figure of January 2019, before the COVID-19 pandemic. It is indeed an encouraging signal for Việt Nam's tourism industry, providing motivation and confidence to achieve the goal of welcoming 17-18 million international visitors in 2024, serving 110 million domestic visitors (including approximately 72.5 million overnight stays). The total revenue from tourism is estimated to reach around VNĐ840 trillion (US$34.4 billion).

According to the Việt Nam National Administration of Tourism, South Korea continues to be the largest source market in January 2024, accounting for 27.6 per cent of the total. China ranks second, followed by Taiwan (China). Meanwhile, the United Kingdom, France, Germany and Russia are the largest European markets for Việt Nam.

In terms of continents, Asian visitors increased slightly compared to the previous month, while other regions experienced strong growth: the Americas increased by 27.3 per cent, Europe by 26.6 per cent, Australia by 68.5 per cent and Africa by 35.2 per cent.

The Việt Nam National Administration of Tourism evaluates that January 2024 witnessed excellent growth from European markets benefiting from the unilateral visa waiver policy. This growth demonstrates the clear effectiveness of extending the stay duration from 15 days to 45 days for 13 countries enjoying unilateral visa exemptions, as per Resolution 128/NQ-CP issued by the Government, effective from August 15, 2023.

The United Nations World Tourism Organisation (UNWTO) notes that in 2023, international tourism is on track to return to pre-pandemic levels by 2024. Preliminary estimates indicate that total international tourism revenue will reach $1.4 trillion in 2023, equivalent to 93 per cent of the 2019 figure ($1.5 trillion). The direct contribution of tourism to the global economy, measured by tourism's share of total GDP, is estimated to reach $3.3 trillion in 2023, equivalent to 3 per cent of global GDP.

International tourism is expected to fully recover to pre-pandemic levels by the end of 2024, with an estimated 2 per cent increase compared to 2019. However, this recovery depends on the pace of recovery in Asia and is subject to risks from the economy, politics and other factors. Factors such as conflicts, high inflation, oil price fluctuations and trade disruptions may impact travel and accommodation costs in 2024. Labour shortages will remain a challenge for tourism, especially during peak travel seasons. In this context, tourists may prioritise choosing local and sustainable destinations that are adaptable. VNS