Tourism Industry Providing High Momentum to Vietnam Retail

Rapid expansion of tourism industry is boosting the growth of Vietnam retail, says RNCOS.


Noida, UP -- (SBWIRE) -- 12/10/2014 -- The ecological diversity, multi-ethnic culture, natural landscape, variety of seafood, all these attributes play a vital role in Vietnam tourism. To stand up to the tourists' expectation, Vietnam has focused on preserving the nature, forests and mountains. The administration has also paid attention towards restoring and upgrading tourist infrastructure. The country is taking measures for protecting the cultural identity of ethnic minorities in Dien Bien Phu and Sapa, etc. To promote the tourism industry of Vietnam the government is making the immigration process fast and easy.

According to our report, tourism and services sector is growing at a very fast pace, which is driving the growth of Vietnam retail sector as well. Tourism, as a sector has its own features which are interconnected with various other sectors. So the National Administration of Tourism has attached utmost importance to human resource development which is an indispensable factor for development. To further promote its tourism, Vietnam is granting visa exemptions for travelers from Denmark, Norway, Finland, Sweden, Japan, the Republic of Korea, and Russia if they stay less than 15 days, and for travelers from a number of ASEAN countries for a 30-day stay. Backed by above stated factors, Vietnam retail is expected to gain further momentum.

The report, "Vietnam Retail Market Outlook 2018", by RNCOS spread in 90 pages provides detailed analysis of the Vietnam Retail Industry. The report has been divided into various segments like retail sales by industry, region, ownership, retail format and economic activity, for which forecasts have been provided till 2018.

The Industry level segment focuses on the food and non-food sectors in Vietnam Retail. Food retail mainly revolves around packaged food segments like, dried processed food, dairy, bakery, etc. On the other hand, the non-food retail provides sales of Vietnamese consumers for clothing, footwear, etc. Further, the retail sales by region and ownership, gives an idea about the retail sales of goods and services in various regions and by the state-owned, non-state-owned and foreign-owned companies of the country, respectively. Finally, to throw a light on retail sales from trade, hotel & restaurant, and tourism & services, a segment on economic activity has also been added.

The report also describes the industry trends such as modern retailing, thriving e-commerce in retail, etc. Furthermore, the report covers government regulations, along with the challenges hindering the growth of this industry.

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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.