On November 21st, Outbox successfully hosted a webinar titled “Capturing the Wave: High-Growth Asian Markets for Vietnam Tourism.” Led by speaker Nguyen Anh Thu, the webinar provided attendees with indispensable insights into the profiles of travelers from high-growth markets such as South Korea, India, and Malaysia, uncovering the potential for Vietnam’s tourism sector in the near future.
This blog recaps key highlights shared during the webinar, or you can watch the full recording on Outbox YouTube channel below.
1. Malaysia – The Largest Source Market of Sub-Region
Malaysia has become a key source market for tourism in Vietnam, experiencing steady growth in both the number of visitors and their spending. By the end of 2023, Malaysian tourists’ outbound tourism expenditure reached USD 11.2 billion, recovering to 90% compared to that of 2019. The travel demand is strong, with 84% of Malaysians planning to take outbound trips, averaging 1.9 trips in the next six months. To attract Malaysian tourists, it is essential to address their needs by prioritizing factors such as safety and affordability.
2. South Korea – Top Spender of Asia
South Korea is considered a top spender in Asia, with travel expenditure reaching USD 27.8 billion in 2024. The country’s outbound tourism is nearing recovery to pre-pandemic levels seen in 2019, with Japan and Vietnam being the most popular destinations. On average, South Korean travelers consult two sources of information when planning their trips, making it essential to effectively combine communication channels to attract this market. Notably, the elderly segment in South Korea is experiencing higher-than-average growth in outbound tourism, so marketing efforts should directly target this group rather than relying on their children to influence their decisions.
South Korea is considered a top spender in Asia, with travel expenditure reaching USD 27.8 billion in 2024.
3. India – A Promising Market Opening Up for Vietnam Tourism
With a significant increase in air connectivity, favorable visa policies, and a growing desire to explore the world, India’s tourism market has reached unprecedented milestones. Proximity plays a major role, with about 70% of Indian travelers choosing destinations in the Middle East and South Asia. A key driver of outbound travel is the “Indian Diaspora,” with many travelers seeking to visit family and friends or attend cultural festivals. To capitalize on India’s potential, businesses and destinations must focus on five key areas: Research, Accessibility, Connectivity, Destination Services, and Travel Experience.
Opportunities for Vietnam Tourism
- Identify the Market Position and Role of Destinations
Each tourism market has its unique strengths and potential for destinations. For emerging markets like India, it is crucial to study and understand customer demand and behavior to create targeted strategies. In top large markets like South Korea, a diversified segmentation approach is necessary to meet the varied needs of travelers.
- Tailored Strategies for Each Market
For geographically convenient and stable markets like Malaysia, it’s important to offer a wide variety of short-term packages while ensuring easy accessibility for travelers. For South Korea, delving deeper into diverse customer segments, from luxury travelers to those seeking short getaways, is essential. In India, understanding the traveler profile before designing strategies is critical, allowing businesses to develop products that cater to specific needs and budgets.
- Destination Marketing – Define and Highlight Unique Values
An effective destination marketing strategy must define and emphasize the unique value of the destination. Thailand serves as a great example, having successfully promoted a wide range of experiences—from leisure to cultural activities—convincing travelers to visit. This approach helps attract a diverse range of tourists and solidifies the destination’s brand in their minds.
