The Outbound Travel Sentiment Score™ for the Vietnamese market remains strong at 124.9 points, matching the average for the Asian tourism market and ranking third in Southeast Asia. This indicates that Vietnamese tourists are enthusiastic about traveling abroad despite ongoing economic challenges.
Summer Travel Intentions High, But Bookings Lag
While 79.7% of Vietnamese tourists surveyed expressed their intention to travel abroad this summer, only 22.2% have booked services for their trips. This suggests that many travelers are still in the planning stages or considering their options. This presents an opportunity for travel businesses to capture demand by providing attractive deals and promotions.
Gen X Emerges as Leading Travel Segment
A notable trend for summer 2024 is the rise of Gen X travelers. This segment is expected to dominate the outbound market, with 58.8% of Gen X respondents planning at least one overseas trip this summer. This is double the rate of Gen Z travelers. This shift highlights the need for travel businesses to tailor their offerings to meet the preferences of older travelers.
Intra-Regional Travel Remains Popular
Intra-regional travel continues to be the preferred choice for Vietnamese tourists, with 64.4% opting for destinations within Asia. Traditional favorites like South Korea, Japan, Thailand, and Singapore remain popular, while China re-enters the top 5 international destinations, replacing Taiwan.
Short Getaways and Outdoor Experiences Favored
Vietnamese tourists are also showing a preference for short getaways for overseas trips, with 71.5% of tourists choosing trips under a week in length. The peak of the summer tourism season for outbound tourism is forecast to be in June and July this year. In addition, Vietnamese tourists are also continuing to show a clear change in their experience needs and preferred types of trips for different holidays throughout the year. During the summer, Vietnamese tourists are particularly interested in outdoor experiences connected with nature (Nature & Outdoors), with 36.4% of tourists choosing this as their favorite experience for this holiday. Culinary tourism, the most popular type of tourism for Vietnamese tourists during Tet, now only accounts for 14.2% of choices, behind beach experiences (17.6%). Another notable point is the emergence of the demand for “city break” experiences in Southeast Asian destinations in the Vietnamese market, with 22% choosing this option.
Economic Concerns Impact Spending
The economic climate is influencing travel spending, with many Vietnamese travelers citing financial concerns as a reason for adjusting their budgets. However, despite these concerns, 31% of respondents are willing to spend more on travel experiences, and 45.6% plan to maintain their pre-existing travel budgets. The average spending for a summer outbound trip is expected to be between $1,001 and $1,500.
The Vietnamese outbound tourism market remains promising for the upcoming summer season, presenting opportunities for domestic travel businesses and international destinations. However, the changing travel behavior of Vietnamese tourists requires a multifaceted and deeper understanding of traveler preferences to effectively cater to this evolving market.
