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New Market Study, "Vietnam Tourism Report Q4 2013", Has Been Published

Recently published research from Business Monitor International, "Vietnam Tourism Report Q4 2013", is now available at Fast Market Research

 

Boston, MA -- (SBWIRE) -- 10/14/2013 -- BMI's Vietnam tourism report looks at the expected trends and changes in the Vietnamese tourism market through to 2017. Tourism in Vietnam has been expanding rapidly in recently years and the country offers enormous long-term investment potential at the heart of the burgeoning Asia Pacific markets. We expect to see substantial growth across all key market indicators, including inbound and outbound travel, the number of hotels present and the overall industry value.

Inbound arrivals to Vietnam saw particularly high growth rates between 2010 and 2012, with arrivals increasing from just over 5mn in 2010, to close to 7mn in 2012. 2013 saw a decline in growth to a not insubstantial 5.7% and we expect growth to remain at this level throughout the remainder of the forecast period to 2017, when we expect the number of tourists arriving in Vietnam per year to reach over 9mn. As well as strong growth in arrivals, outbound travel from Vietnam is also expected to show exceptional growth of between 11% and 12%. Thanks to the growing Vietnamese economy, we expect outbound travellers to reach over 5.5mn in 2017.

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Tourism is well supported by the government and 2013 saw the launch of the National Tourism Year and widespread campaigns to develop the country's appeal as a tourist destination further. In order to keep up with rising demand and develop tourism further, the government is also making a series of investments in improving the country's transport infrastructure, with expansion of the international airports including a new terminal at Noi Bai Airport in Hanoi and investments in the country's rail network.

Vietnam has a wide range of tourist attractions to rival other countries in the Asia Pacific region. The picturesque beaches of Phu Quoc and Ha Long Bay bring in leisure travellers, while the eco and wildlife tours cater for the more adventurous. The country also has a wide variety of cultural attractions such as Thien Mu Pagoda and historical attractions like the Ci Chi Tunners (used by the Viet Cong during the Vietnam War). As such, there is plenty to entice first-time travellers and to encourage their return.

- Hotels continue to expand their presence in Vietnam, with several major resorts due to open in the future and the overall number of hotels expected to increase year on year. BMI expects that the value of the hotel industry will increase by between 11.69% and 13.51% per year between 2013 and 2017.
- The government continues to invest in improving the country's transport infrastructure, including the building of a new international airport due to open by 2020 and a range of rail development projects.
- Arrivals will continue to be dominated by countries from within the Asia Pacific region, particularly China, South Korea and Japan, although the USA and Russia will also remain key source markets.

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