Travel And Tourism In Vietnam To 2017
The report provides detailed market analysis, information and insights, including:
· Historic and forecast tourist volumes covering the entire Vietnamese travel and tourism sector
· Detailed analysis of tourist spending patterns in Vietnam
· The total, direct and indirect tourism output generated by each category within the Vietnamese travel and tourism sector
· Employment and salary trends for various categories in the Vietnamese travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries and others
· Detailed market classification across each category with analysis using similar metrics
· Detailed analysis of the airline, hotel, car rental and travel intermediaries industries
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Vietnam’s tourist volumes increased during the review period due to the country’s strong economic growth, improved travel infrastructure, the availability of multiple travel options, affordable accommodation, and attractive destinations. The country’s inbound tourist volumes expanded at a CAGR of 12.64% during the review period (2008−2012). Consequently, after realizing the sector’s importance to the nation’s economy, the government began prioritizing tourism. According to the World Travel and Tourism Council (WTTC), tourism accounted for 9.4% of the country’s GDP and 8.1% of its total employment in 2012.
This report provides an extensive analysis related to tourism demands and flows in Vietnam:
· It details historical values for the Vietnamese tourism sector for 2008–2012, along with forecast figures for 2013–2017
· It provides comprehensive analysis of travel and tourism demand factors with values for both the 2008–2012 review period and the 2013–2017 forecast period
· The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Vietnam
· It provides employment and salary trends for various categories of the travel and tourism sector
· It provides comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries with values for both the 2008–2012 review period and the 2013–2017 forecast period
Reasons to buy
· Take strategic business decisions using historic and forecast market data related to the Vietnamese travel and tourism sector
· Understand the demand-side dynamics within the Vietnamese travel and tourism sector, along with key market trends and growth opportunities
· Identify the spending patterns of domestic, inbound and outbound tourists by individual categories
· Analyze key employment and compensation data related to the travel and tourism sector in Vietnam
· Based on Timetric forecasts, Vietnam’s economy is expected to grow by 5.3% and 5.7% annually in 2013 and 2014 respectively, and accelerate to 6.5% over 2015−2017. The growth is expected to be supported by a reduction in interest rates and improvements in export demand.
· In terms of inbound tourist arrivals and tourism revenue in 2012, Vietnam ranked fifth among the Association of Southeast Asian Nations (ASEAN). Tourism is one of the fastest-growing business areas in the country’s economy.
· Domestic tourism is dependent on resident income levels in a country, as well as their propensity to travel and spend. Mean household income in Vietnam increased at a CAGR of 14.44% during the review period and is expected to continue to increase at a CAGR of 12.69% over the forecast period. Domestic tourism will also edge upwards, supported by rising disposable income levels along with strong economic growth, increasing government expenditure on promotional activities and an encouraging demographic profile.
· The government and the VNAT have organized events in several cities and provinces to promote and introduce tourism products to foreign visitors. The events included Caravan Week in Quang Ngai province, the National Tourism Year 2011 in Phu Yen, the International Travel Expo (ITE) in Ho Chi Minh City, the Khanh Hoa Sea Tourism Week and the International Fireworks Competition in Da Nang City. Furthermore, the Thua Thien Hue province hosted the National Tourism Year 2012 and the Hue Festival. Ho Chi Minh City, Can Tho City, Binh Thuan province and the north-western province of Quang Ninh were the most popular travel destinations for inbound tourists.
· Outbound tourism growth is supported by rising levels of disposable income and the country’s close proximity with key outbound destinations. Another factor which contributed to outbound tourism growth is that Vietnamese tourists can easily travel to other ASEAN countries without the need for visas.
· The Civil Aviation Administration of Vietnam (CAAV) is the authorized body which manages the Vietnamese aviation market. It is responsible for enacting aviation policies, upgrading airports and licensing aviation activities. Since Vietnam’s accession into the World Trade Organization (WTO) in 2007, the government began to liberalize its aviation market. To avoid over-competition, the government only started issuing new licenses for domestic operation from 2012, and foreign ownership of Vietnamese airlines was capped at 30%.
To Buy a Copy Of This Report:-
· As one of the fastest-growing economies in the world, Vietnam offers strong potential for investments in the hotel market. Investment opportunities exist in all leading tourist destinations, such as Hanoi, Ho Chi Minh City, Da Nang, Nha Trang and Hoi An. The Saigontourist Holding Company is the leading hotel operator in the country, with 55 hotels located throughout the country.
· The key growth drivers for the Vietnamese car rental market are the country’s rising levels of domestic and inbound tourism and an increasing number of airline passengers. The main constraints to car rental growth are the country’s lack of proper road and airport infrastructure. However, improvement initiatives undertaken by the government are expected to address these challenges.
· An increase in internet penetration rates is leading to strong growth in the online travel bookings category. According to Internet World Stats, Vietnam has the fourth-highest internet penetration rate of all the ASEAN countries, with 31.0 million internet users, equivalent to 34% of the total population.
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