Ho Chi Minh City, August 17, 2023 – The Outbox Company, a tourism market research company, has released a new report “Vietnam’s state of travel H1 – 2023”. The report provides a comprehensive overview of the country’s tourism recovery, comparing it to other destinations in Southeast Asia. The report also examines the factors affecting tourism demand among Vietnamese tourists.
The Outbox Company’s report “Vietnam’s state of travel H1 – 2023” records and analyzes the performance of Vietnam’s tourism industry from both the supply and demand sides. It also assesses how Vietnam’s tourism recovery compares to that of its neighboring destinations in the region.
The report is a valuable resource for businesses in the tourism industry, investors, and destination management agencies. Businesses can use the report to better understand the tourism situation in Vietnam and make informed business decisions. Investors can use the report to assess the potential of the Vietnamese tourism market and make sound investment decisions. Destination management agencies can use the report to understand the tourism situation in Vietnam and develop appropriate support policies for the tourism industry.
“Vietnam’s state of travel H1 – 2023” report discuss 3 key content, in which:
The Recovery of Tourism Market
The report indicates a robust recovery in Vietnam’s tourism sector in the first half of 2023, with the country welcoming 5.67 million international visitors. This figure is equivalent to 65.7% of the visitor count in 2019. Despite inflation and a rising cost of living, tourism demand remains high. The pace of recovery in Vietnam’s tourism sector has exceeded expectations, painting a promising picture for the goal of attracting 8 million international visitors in 2023.
However, there are still some challenges facing Vietnam’s tourism sector, including high travel expenses, limited air connectivity, and a yet-to-fully-recover Chinese market.
Outcome of travel supply chain operations
The aviation and accommodation industries in Vietnam experienced a strong recovery in the first six months of 2023, thanks to high travel demand and the lifting of travel restrictions. The airline industry posted a revenue recovery of 88% in March 2023, compared to pre-pandemic levels. Asia Pacific is the fastest-recovering region, accounting for 31.9% of global RPK (revenue per passenger kilometer). The accommodation service industry also saw a strong recovery, with 4.3 million visitors served in the first 6 months of 2023. This is an increase of 110.3% compared to the same period last year. International visitors increased by 7.7 times, while domestic visitors increased by 66.7%. The number of rooms in the 4-5 star segment also increased by 6.2% compared to the end of 2022.
Travel behavior of Vietnamese tourists
During the second quarter of 2023, there was a decrease in the frequency of trips made by Vietnamese tourists, despite the sustained high demand for tourism and an increasing preference for self-planned travel compared to the first quarter. There’s a growing trend among Vietnamese tourists to embark on “spontaneous trips” that are planned within a shorter time frame and have a reduced trip duration.
All details are contained in the full report “Vietnam’s state of travel H1 – 2023” released by The Outbox Company.