Vietnam Tourism Outlook 2023 0l4pt8

VIETNAM TOURISM
OUTLOOK 2023
ABOUT US
Established in 2017, The Outbox Company is a travel market intelligence com-
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is to embrace data-driven making-decision and promote the development of
the tourism industry thereby propelling the business to new heights while
èãÖéÏƎÖďƎèíć½Ǝ¹Ąď³ä½ƎďíƎéƎ½ĥ½ćƣ´ÔéÏÖéÏƎ³ēĊÖé½ĊĊƎäé¹Ċ´Ą½Ɠ “Vietnam Tourism Outlook 2023” report is a publication belonging
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2 l The Outbox Company

PIONEERING
A NEW CULTURE
OF DATA DRIVEN
THE
At the beginning of 2022, news of the Omicron
variant outbreak was overshadowed by reports
LOOKBACK
of the escalating conflict between Russia and
wãćÖé½ƓƎ ;éƎ ďÔ½Ǝ ĊÔíćďƎ ď½ćèƔƎ ďÔ½Ǝ ć½ćíēďÖéÏƎ íÎƎ ÖćƎ
ďćŏ´Ǝ ďíƎ ĥíÖ¹Ǝ kēĊĊÖéƎ ÖćĊĄ´½Ǝ ÔĊƎ Öé´ć½Ċ½¹Ǝ

2022, AN EXCITING BUT CAUTIOUS YEAR OF
the cost of travel to Asia at a time when some
TOURISM RESTART
ĊÖéƎ¹½ĊďÖéďÖíéĊƎć½Ǝć½íĄ½éÖéÏƎďíƎďíēćÖĊďĊƓ
;éƎďÔ½Ǝè½¹ÖēèƎď½ćèƔƎÖéÎäďÖíéƔƎ½ī´½ć³ď½¹Ǝ³ĬƎďÔ½Ǝ
The year 2022 painted a picture mixed with
conflict, is eroding consumers' purchasing power,
optimistic colors of returning to 'normalcy'
after the pandemic and concerns about other while rising fuel prices are increasing operating
threats, including escalating political tensions ´íĊďĊƎÎíćƎÖćäÖé½ĊƓ
é¹Ǝ´Ôää½éÏ½ĊƎÖéƎďÔ½ƎÖé¹ēĊďćĬƓ

Qĥ½ćƎďĦíƎĬ½ćĊƎíÎƎďÔ½ƎĄé¹½èÖ´Ǝé¹ƎďÔ½ƎŐćĊďƎĬ½ćƎíÎƎ
THE RECOVERY PROCESS

the reactions of governments in general and businesses in particular
have shown that the market and regulatory agencies are learning
HOW TO COPE WITH THE PANDEMIC

AND ADAPT TO A “NEW NORMAL”
All of this is reflected in a common decision that society will have to
LIVE WITH COVID-19 for some time, but at least in the markets,
íĥÖ¹ƣŔŜƎÖĊƎéíƎäíéÏ½ćƎƎĊ½ćÖíēĊƎ³ććÖ½ćƎďíƎďćĥ½äƎé¹ƎďíēćÖĊèƎ´ďÖĥÖďÖ½ĊƓ
Although CHINESE MARKET

continued absence in the context of tourism in the
ASIA-PACIFIC
ć½ÏÖíéƎÔĊƎ´ć½ď½¹ƎƎĊÖÏéÖŐ´éďƎí³Ċď´ä½ƎďíƎďÔ½Ǝíĥ½ćääƎ
recovery of the region, other markets have taken
BOLD STEPS
ďíĦć¹ĊƎÎēääƎć½´ďÖĥďÖíéƎ³Ċ½¹ƎíéƎä½ĊĊƎĊďćÖ´ďƎĄíäÖ´Ö½ĊƓ

DOMESTIC TOURISM IN 2022
LED THE WAY IN REVIVING VIETNAM'S TOURISM INDUSTRY
íè½ĊďÖ´Ǝé¹ƎÖéď½ćéďÖíéäƎďíēćÖĊèƎÖéƎÖ½ďéèƎĊĦƎƎĊÖÏéÖŐ´éďƎć½´íĥ½ćĬƎÖéƎŕœŕŕƎ Meanwhile, international tourism slowly made a comeback, with the total number
ÎćíèƎďÔ½Ǝć½´íć¹ƎäíĦƎíÎƎŕœŕŔƓƎíè½ĊďÖ´ƎďíēćÖĊèƎ´íéďÖéē½¹ƎďíƎ³íēé´½Ǝ³´ãƎĊďćíéÏäĬƎ íÎƎďíēćÖĊďĊƎďƎíé½ƣďÔÖć¹ƎíÎƎĄć½ƣĄé¹½èÖ´Ǝä½ĥ½äĊƎƨƣŚŜƓŚǤƩƓƎsÔÖĊƎć½ĊēäďƎĦĊƎÖéƎäÖé½Ǝ
ƨǔŔŘŖƓŖǤƩƎé¹ƎĊēćĄĊĊ½¹ƎďÔ½ƎďíďäƎéēè³½ćƎíÎƎďíēćÖĊďĊƎć½´íć¹½¹ƎÖéƎŕœŔŜƎƨǔŔŜƓŕǤƩƎ ĦÖďÔƎ ½īĄ½´ďďÖíéĊƎ ĊƎ ďÔ½Ǝ ĄćíĄíćďÖíéƎ íÎƎ Ö½ďéèƿĊƎ ã½ĬƎ Ċíēć´½Ǝ èćã½ďĊƎ ÖĊƎ Ô½ĥÖäĬƎ
Îď½ćƎŔŕƎèíéďÔĊƎíÎƎäÖÎďÖéÏƎĄé¹½èÖ´ƣć½äď½¹Ǝć½ĊďćÖ´ďÖíéĊƓ concentrated in Northeast Asia, an area that was among the most cautious in
½ĊÖéÏƎďćĥ½äƎć½ĊďćÖ´ďÖíéĊƎé¹Ǝ½éďćĬƣ½īÖďƎć½ÏēäďÖíéĊƎć½äď½¹ƎďíƎíĥÖ¹ƣŔŜƓ
Domestic International
19.2%
16.1%
6.3%
Total number of
domestic tourists
+153.3 %
-34.1%
-52.9% -78.9%
-79.7%
-99.9%
2019 2020 2021 (vs 2019) 2022 (vs 2019)
Source: Vietnam National Administration of Tourism (VNAT)

INTERNATIONAL TOURISM IN 2022 ;éƎÖ½ďéèƔƎďÔ½ƎÖèĄíćďé´½ƎíÎƎďÔ½ƎÔÖé½Ċ½Ǝèćã½ďƎ´ééíďƎ³½Ǝ¹½éÖ½¹ƔƎĊƎĄćÖíćƎďíƎ
íĥÖ¹ƔƎÔÖé½Ċ½ƎďíēćÖĊďĊƎ´íéĊÖĊď½éďäĬƎďíĄĄ½¹ƎďÔ½ƎäÖĊďƎíÎƎã½ĬƎèćã½ďĊƓƎ;éƎŕœŔŜƔƎďÔ½Ǝ
RECOVERED MUCH LOWER ÔÖé½Ċ½Ǝ èćã½ďƎ äíé½Ǝ ´´íēéď½¹Ǝ ÎíćƎ ŖŕƓŕǤƎ íÎƎ ďíďäƎ Öéď½ćéďÖíéäƎ ććÖĥäĊƎ ďíƎ
THAN EXPECTED Ö½ďéèƔƎĊēćĄĊĊÖéÏƎďÔ½ƎĊ½´íé¹ƣćéã½¹Ǝèćã½ďƔƎníēďÔƎGíć½ƔƎ³ĬƎíĥ½ćƎŔƓřƎèÖääÖíéƎ
ććÖĥäĊƎé¹ƎĊÖīƎďÖè½ĊƎďÔ½ƎďÔÖć¹ƣćéã½¹Ǝèćã½ďƔƎFĄéƓƎ
sÔ½ƎMíćďÔ½ĊďƎĊÖéƎèćã½ďƎ
Japan - Korea - Taiwan
sÔ½Ǝ"ēćíĄ½éƎèćã½ď sÔ½ƎƎÔÖé½Ċ½Ǝèćã½ď
sÔ½ƎwnƎèćã½ď
UK - Russia
34.3%
5.3%
4.1%
32.2%
sÔ½Ǝn"Ǝèćã½ďƎ
Thailand - Malaysia
6.2%
The Australian market
Therefore, when the Chinese market was removed

2.1%
from the overall picture, the sporadic return of
íďÔ½ćƎèćã½ďĊƎ´íēä¹ƎéíďƎŐääƎďÔ½ƎÏĄƎé¹Ǝć½ĥÖĥ½ƎďÔ½Ǝ
Öéď½ćéďÖíéäƎďíēćÖĊèƎĊ´½é½ƎÖéƎÖ½ďéèƎÖéƎŕœŕŕƓ
The proportion of visitors by market in the total number of international arrivals to Vietnam in 2019 (source: VNAT)

Ö½ďéèƎÖĊƎèíéÏƎďÔ½Ǝ´íēéďćÖ½ĊƎé¹Ǝď½ććÖďíćÖ½ĊƎďƎďÔ½Ǝ³íďďíèƎíÎƎďÔ½ƎÖéď½ćéďÖíéäƎ
ďíēćÖĊèƎć½´íĥ½ćĬƎćéãÖéÏĊƎĦÖďÔƎďÔ½Ǝć½´íĥ½ćĬƎćď½ƎďƎŕŖǤƎíÎƎŕœŔŜƔƎĊäíĦ½ćƎďÔéƎďÔ½Ǝ
Ħíćä¹Ǝ ĥ½ćÏ½Ǝ ć½´íĥ½ćĬƎ ćď½Ǝ ďƎ ŘŘǤƓƎ sÔíēÏÔƎ Ö½ďéèƿĊƎ ć½´íĥ½ćĬƎ ćď½Ǝ ÖĊƎ é½ćäĬƎ
ďÔ½ƎĊè½ƎďíƎďÔďƎíÎƎĊÖƎƣƎhć´ÖŐ´Ǝć½ÏÖíéƎƨŕŗǤƩƔƎÖďƎÖĊƎĊďÖääƎďÔ½ƎĊäíĦ½ĊďƎć½´íĥ½ćĬƎ
èíéÏƎďÔ½ƎníēďÔ½ĊďƎĊÖéƎ´íēéďćÖ½ĊƎĊēćĥ½Ĭ½¹Ɠ
-55% -69% -71% -75% -76% -77%

Philippines
Singapore
Indonesia
Thailand
Malaysia
Vietnam
Source: ForwardKeys
MARKET LESSONS
DRAWN FROM THE ABSENCE OF
CHINESE TOURISTS
;éƎ ć½äÖďĬƔƎ ÖďƎ ÔĊƎ ³½½éƎ ĊÔíĦéƎ ďÔďƎ ÎćíèƎ ďÔ½Ǝ ³Ċ½é´½Ǝ íÎƎ
this important market, tourism businesses and local
governments in various destinations have learned a
lesson about over-reliance on the Chinese market, and
Ôĥ½ƎÏć¹ēääĬƎ¹âēĊď½¹ƎďÔ½ÖćƎíĄ½ćďÖíéĊƎé¹ƎĄäéĊƓƎ3íćƎ
example, Thailand and other Southeast Asian coun-
ďćÖ½ĊƎ Ôĥ½Ǝ ďćÏ½ď½¹Ǝ ;é¹ÖƎ ĊƎ ďÔ½ÖćƎ é½ĦƎ èÖéƎ Ċíēć´½Ǝ
èćã½ďƓƎ ;é¹íé½ĊÖƎ ÖĊƎ ÖèĄä½è½éďÖéÏƎ Ǝ é½ĦƎ ¹ÖÏÖďäƎ ĥÖĊƎ
ĄćíÏćèƓƎnÖéÏĄíć½ƎÖĊƎĄēćĊēÖéÏƎƎĊďćď½ÏĬƎďíƎ³½´íè½ƎƎ
top destination for meetings, incentives, conferences,
é¹Ǝ½ĥ½éďĊƎƨL;"ƎĊ½Ïè½éďƩƓƎ

International tourist arrivals to Tourist arrivals in 2019 & 2022
Vietnam market in 2022 (in thousands) from 10 key international markets (in thousands)
5,806.4
ÔÖé
níēďÔƎGíć½ 769.2 72
wéÖď½¹Ǝnďď½Ċ 215.3 4,290.8

níēďÔƎGíć½
769
sÔÖäé¹ 162.6
952.0
ƎLäĬĊÖ 135.0 Japan
129
Japan 128.8
926.7
Taiwan
nÖéÏĄíć½ 128.4 90
ēĊďćäÖ 99.2 746.2

wéÖď½¹Ǝnďď½Ċ
215
Taiwan 89.5
ÔÖé 646.5
71.9 kēĊĊÖ
28
wéÖď½¹ƎGÖéÏ¹íè 67.3
606.2
LäĬĊÖ
4½ćèéĬ 60.0
135
3ćé´½ 58.1
509.8
sÔÖäé¹
é¹ 37.9 163
kēĊĊÖ 28.1 383.5

ēĊďćäÖ
99
315.5
wéÖď½¹ƎGÖéÏ¹íè
67
2019 2022

NATIONWIDE TOURISM SUPPLY
CHAIN RETURNS TO THE RACE
k½ĥ½éē½Ǝ ÎćíèƎ ´´íèèí¹ďÖíéƎ é¹Ǝ Îíí¹Ǝ Ċ½ćĥÖ´½ĊƎ ÖéƎ ŕœŕŕƎ ć½´Ô½¹Ǝ ŘŚśƓŚƎ ďćÖääÖíéƎ k½ĥ½éē½ƎÎćíèƎďíēćƎíĄ½ćďÖíéĊƎÖéƎŕœŕŕƎć½´Ô½¹ƎŕŗƓŘƎďćÖääÖíéƎMƔƎŘƓŖƎďÖè½ĊƎÔÖÏÔ½ćƎ
MƔƎēĄƎŘŕƓŘǤƎ´íèĄć½¹ƎďíƎďÔ½ƎĊè½ƎĄ½ćÖí¹ƎäĊďƎĬ½ćƎé¹Ǝé½ćäĬƎć½´Ô½¹ƎďÔ½Ǝä½ĥ½äƎ ďÔéƎďÔ½ƎĊè½ƎĄ½ćÖí¹ƎäĊďƎĬ½ćƎé¹ƎŚŗƓŜǤƎ´íèĄć½¹ƎďíƎŕœŔŜƓƎĊƎíÎƎMíĥ½è³½ćƎŕŔƔƎ
íÎƎ ŕœŔŜƎ ƨƣŔƓŖǤƩƓƎ sÔÖĊƎ ŐÏēć½Ǝ ĊÔíĦĊƎ ďÔďƎ äí¹ÏÖéÏƎ é¹Ǝ ¹ÖéÖéÏƎ ´ďÖĥÖďÖ½ĊƎ Ôĥ½Ǝ äèíĊďƎ ŕœŕŕƔƎďÔ½ć½ƎĦ½ć½ƎŕƔśŚśƎÖéď½ćéďÖíéäƎďíēćƎíĄ½ćďíćĊƎéďÖíéĦÖ¹½ƔƎēĄƎśǤƎ´íèĄć½¹Ǝ
ÎēääĬƎć½´íĥ½ć½¹Ǝ´íèĄć½¹ƎďíƎďÔ½ƎĄć½ƣĄé¹½èÖ´ƎĄ½ćÖí¹ƓƎĊƎíÎƎďÔ½Ǝ½é¹ƎíÎƎFēé½ƎŕœŕŕƔƎ ďíƎ ŕœŔŜƎ ƨŕƔřřŚƎ ďíēćƎ íĄ½ćďíćĊƩƓƎ ĊƎ ÎíćƎ ¹íè½ĊďÖ´Ǝ ďíēćƎ íĄ½ćďíćĊƔƎ ĊƎ íÎƎ ďÔ½Ǝ ½é¹Ǝ íÎƎ
there were about 33,330 tourism accommodation facilities with 667,000 rooms June 2022, 1,060 businesses had been licensed by local authorities, more than
éďÖíéĦÖ¹½ƔƎéƎÖé´ć½Ċ½ƎíÎƎŔŔǤƎ´íèĄć½¹ƎďíƎŕœŔŜƎƨ½ĊďÖèď½¹ƎďƎćíēé¹ƎŖœƔœœœ ¹íē³ä½ƎďÔ½Ǝéēè³½ćƎÖéƎŕœŔŜƎƨ³íēďƎŘœœƎ³ēĊÖé½ĊĊ½ĊƩƓ
Î´ÖäÖďÖ½ĊƎĦÖďÔƎřŘœƔœœœƎćííèĊƩƓƎnÖèÖäćƎďíƎć½ĥ½éē½ƔƎďÔ½Ǝéēè³½ćƎíÎƎíĄ½ćďÖéÏƎäí¹ÏÖéÏƎ
Î´ÖäÖďÖ½ĊƎÔĊƎäĊíƎć½´íĥ½ć½¹Ǝé¹Ǝ½ĥ½éƎ½ī´½½¹½¹ƎďÔ½Ǝä½ĥ½äƎíÎƎŕœŔŜƓ
Accomondation & Food service Tour operatoring service

8.7%
-1.3%
-13.0%
-20.2%
-25.1%
-45.3%
-32.1%
2019 2020 2021 (vs 2019) 2022 (vs 2019)

-80.1% níēć´½ƕƎ4½é½ćäƎnďďÖĊďÖ´ĊƎQŏ´½
Mr. Tran Sy Son
CEO – PYS TRAVEL
The recovery of tourism activities in 2022 is being driven by the
demand for domestic tourism. The demand for outbound tourism by
Vietnamese people has also gradually increased since mid-2022,
although the choice of destinations is still limited due to Covid-19
regulations still being applied in some places.
“
After relaxing social distancing measures, domestic tourism has recovered
ĆēÖď½ƎĆēÖ´ãäĬƓƎ9íĦ½ĥ½ćƔƎÖé³íēé¹ƎďíēćÖĊèƔƎ½ĊĄ½´ÖääĬƎďÔ½ƎÔÖé½Ċ½Ǝèćã½ďƔƎÔĊƎ
éíďƎĬ½ďƎć½´íĥ½ć½¹ƓƎsÔÖĊƎäĊíƎć½Îä½´ďĊƎďÔ½Ǝć½´íĥ½ćĬƎĊďďēĊƎíÎƎďćĥ½äƎ´íèĄéÖ½ĊƓƎ
;éď½ćéďÖíéäƎ ďćĥ½äƎ ÖĊƎ äĊíƎ Ŏ½´ď½¹Ǝ ³½´ēĊ½Ǝ Öéď½ćéďÖíéäƎ ďíēćÖĊďĊƎ Ôĥ½Ǝ éíďƎ Ĭ½ďƎƎƎƎƎƎƎƎ
ć½´íĥ½ć½¹ƔƎé¹ƎĊíè½Ǝèćã½ďĊƎĊē´ÔƎĊƎÔÖéƎć½Ǝć½ĊďćÖ´ď½¹ƎÎćíèƎďćĥ½äÖéÏƓ
Ö½ďéè½Ċ½Ǝíēď³íēé¹Ǝďćĥ½äƎÔĊƎéíďƎĬ½ďƎć½´íĥ½ć½¹Ǝèē´ÔƔƎé¹ƎÖ½ďéè½Ċ½ƎĄ½íĄä½Ǝ
”
Domestic tourism has returned and is slightly better than previous years Ôĥ½ƎéíďƎÔ¹ƎèéĬƎíĄĄíćďēéÖďÖ½ĊƎďíƎďćĥ½äƎ³ćí¹ƓƎ"ĊďÖèď½¹Ǝíēď³íēé¹ƎďíēćÖĊèƎ
³½Îíć½ƎďÔ½ƎĄé¹½èÖ´ƓƎsÔ½Ǝć½ĊíéƎÎíćƎďÔÖĊƎÖĊƎďÔďƎďÔ½ć½ƎÖĊƎäĦĬĊƎƎ¹½èé¹ƎÎíćƎ íÎƎÖ½ďéè½Ċ½ƎĄ½íĄä½ƎÖĊƎ³íēďƎŖœƣŗœǤƎ´íèĄć½¹ƎďíƎŕœŔŜƓ
tourism, and previously tourists had two options: traveling abroad or traveling
¹íè½ĊďÖ´ääĬƓƎ9íĦ½ĥ½ćƔƎÖéƎŕœŕŕƔƎďÔ½ƎĄíĊĊÖ³ÖäÖďĬƎíÎƎďćĥ½äÖéÏƎ³ćí¹ƎÖĊƎĆēÖď½ƎäíĦƎ
due to the ongoing pandemic, síƎĄ½íĄä½Ǝ´ÔííĊ½ƎďíƎďćĥ½äƎ¹íè½ĊďÖ´ääĬƎÖéĊď½¹Ɠ

VIETNAM'S AVIATION INDUSTRY IS RECOVERING WELL
sÔ½Ǝéēè³½ćƎíÎƎíĄ½ćď½¹ƎÎäÖÏÔďĊƎÖéƎŕœŕŕƎÖĊƎ½ĊďÖèď½¹ƎďíƎć½´ÔƎŖŔŕƓśƎďÔíēĊé¹ƔƎ 4äí³äƎĥÖďÖíéƎ´Ą´ÖďĬƎÖéƎFéēćĬƎŕœŕŖƎÖĊƎíéäĬƎśǤƎäíĦ½ćƎďÔéƎFéēćĬƎŕœŔŜƓ
éƎÖé´ć½Ċ½ƎíÎƎŔŗŚƓŚǤƎ´íèĄć½¹ƎďíƎŕœŕŔƎé¹Ǝ½ĆēÖĥä½éďƎďíƎŜŘƓŚǤƎíÎƎŕœŔŜƓ sÔ½ƎÎĊďƎć½´íĥ½ćĬƎĄ´½ƎíÎƎŕœŕŕƎÖĊƎÎíć½´Ċď½¹ƎďíƎ´íéďÖéē½ƎÖéďíƎďÔ½ƎŐćĊďƎĆēćď½ćƎíÎƎŕœŕŖƓ
ĥÖďÖíéƎ´Ą´ÖďĬƎÖéƎÔÖéƔƎ;é¹ÖƔƎé¹ƎÖ½ďéèƎć½ƎääƎ½īĄ½´ď½¹ƎďíƎ½ī´½½¹ƎŕœŔŜƎä½ĥ½äĊƎÖéƎ
ďÔ½Ǝ´íèÖéÏƎèíéďÔĊƓ
Operated flights (thousands of flights)
Capacity change vs same month in 2019

326.7
312.8
³ĬƎèâíćƎĥÖďÖíéƎèćã½ďƎƨĊÖƎh´ÖŐ´Ʃ
216.6
126.3
China
;é¹Ö
Japan
;é¹íé½ĊÖ
Australia
níēďÔƎGíć½
Ö½ďƎMè
Thailand
HHƎQwMsk;"nƎQkH;"
201 9 202 0 202 1 202 2
Source: Civil Aviation Authority of Vietnam Source: OAG

Mr. Ly Ngoc Sang
“
Sales & Marketing representative
– Japan Airlines ;éƎŕœŕŕƔƎääƎÖćäÖé½ĊƎć½ƎÎ´ÖéÏƎďÔ½Ǝ´Ôää½éÏ½ƎíÎƎäíĊĊ½ĊƎ¹ē½ƎďíƎďÔ½Ǝä´ãƎíÎƎ
ć½´íĥ½ćĬƎ ÖéƎ Öéď½ćéďÖíéäƎ ĄĊĊ½éÏ½ćƎ ¹½èé¹ƓƎ sÔ½Ǝ ĊÖďēďÖíéƎ íÎƎ èéĬƎ
Ïćíēé¹½¹Ǝ Öć´ćÎďƎ äĊíƎ Öé´ēćĊƎ ĊÖÏéÖŐ´éďƎ íéƣÏćíēé¹Ǝ ´íĊďĊƓƎ ;éƎ ŕœŕŔƎ é¹Ǝ
ĄćďÖ´ēäćäĬƎÖéƎŕœŕŕƔƎÖćäÖé½ĊƎÔĥ½ƎĊēŎ½ć½¹ƎĊÖÏéÖŐ´éďƎäíĊĊ½ĊƎ¹ē½ƎďíƎďÔ½Ǝ
normal operating expenses such as aircraft maintenance and labor
´íĊďĊƎÎíćƎďÔ½ƎĥÖďÖíéƎÖé¹ēĊďćĬƓƎFĄéƎÖćäÖé½ĊƎÖĊƎíé½Ǝ½īèĄä½ƎíÎƎéƎÖćäÖé½Ǝ
that has incurred losses and had to operate many non-revenue flights
ƨíé½ƣĦĬƩƎ ďíƎ ĊďĬƎ ÎäíďƓƎ 9íĦ½ĥ½ćƔƎ FĄéƎ ÖćäÖé½ĊƎ ÖĊƎ ĊďÖääƎ ĊďćÖĥÖéÏƎ ďíƎ
Ċ½ćĥ½ƎĄĊĊ½éÏ½ćĊƎÎäĬÖéÏƎďíƎFĄéƔƎďÔ½ƎwnƔƎé¹ƎíďÔ½ćƎ´íēéďćÖ½ĊƓ
;ƎďÔÖéãƎďÔďƎďÔ½ƎÖćäÖé½ƎÖé¹ēĊďćĬƎÖéƎŕœŕŖƎĦÖääƎ³ć½ãƎ½ĥ½éƎé¹Ǝ³½ÏÖéƎďíƎèã½Ǝ
In 2022, the loss-making situation of airlines is due to the absence
ĄćíŐďĊƔƎ ÔíĦ½ĥ½ćƔƎ ÖďƿĊƎ ¹Öŏ´ēäďƎ ďíƎ Ąć½¹Ö´ďƎ ďÔ½Ǝ ½ī´ďƎ ďÖèÖéÏƎ íÎƎ ďÔ½Ǝ
”
of the international passenger market, which leads to high costs break-even point, and the earliest forecast would likely be after the
when many airplanes are unable to take off. However, it is predicted Ċēèè½ćƎĊ½ĊíéƓ
that airlines will recover from the losses and break even in 2023.

TRAVEL
TRENDS FOR 2023
The reality is that, although the attitudes and behaviors of travelers have been shaped through the pandemic, only a few of these
are likely to be long-lasting. International business and tourism activities were impacted during the peak of the pandemic, but
ĊÖé´½ƎďÔ½éƔƎ³íć¹½ćĊƎÔĥ½Ǝ³½½éƎíĄ½é½¹Ǝé¹Ǝ³ēĊÖé½ĊĊ½ĊƎÔĥ½ƎÖèĄä½è½éď½¹Ǝé½ĦƎĄíäÖ´Ö½ĊƎíéƎĦíćãĄä´½Ǝäí´ďÖíéĊƔƎĦÔÖ´ÔƎĦÖääƎŎ½´ďƎ
the increase in both leisure and business travel in 2023.

If there is one clear psychological characteristic that runs
throughout 2022, it is that travelers

One thing that is certain for the tourism picture in Vietnam in 2023
VALUE THE FREEDOM TO MOVE AROUND
is that there will not be any single DOMINANT
AND ENJOY ENTERTAINMENT
EXPERIENCES travel trend driving the market SUPPLY AND DEMAND.
Instead, there will be changes in ENVIRONMENTAL
Although there may be considerations
IN THE PLANNING
é¹ƎŐéé´ÖäƎ´íé´½ćéĊƎ FACTORS that shape TOURISM TRENDS
AND SEARCHING FOR SERVICES for trips, that businesses must continuously monitor and be flexible to react to.
the energy and demand for enriching travel experiences are predicted
to continue in 2023.

FACTORS SHAPING TOURISM TRENDS
IN VIETNAM IN 2023
ADJUSTMENT FACTORS
The group of factors that adjust
and impact the behavior of tourists
are economic and social factors
Visa policy Prospects of Vietnam's Investment / Tourism Domestic airfare

economy in 2023 Real Estate cost
SHAPING FACTORS
This is a group of factors that
originate from the internal
psychology of tourists, shaping
the trends in tourist behavior
Increased awareness
Prioritizing Consideration of cost and Expressing personal identity of sustainable
healthcare actual value received through tourism activities development

One of the important factors in creating a momentum for international
“
tourist destinations to attract the return of tourists is openness and
transparency in supporting policies and regulations for tourists. The Visa barriers still exist and have not been completely relaxed like in
some other countries such as Thailand and Cambodia, so international

race to revive and reposition the destination image in the eyes of
”
visitors to Vietnam are still hesitant. The visa policy should be more
tourists has never been more competitive and urgent than last year. flexible.
The recovery speed of each destination varies, but one thing is for sure Mr. Tran Sy Son
CEO – PYS TRAVEL
“
ƭŀñƭ͘ñ͘ėğơƭņŨñƭņųŨ͘ƭŀñƭ͘ņơ͘Ŧųƙğ͘ƖƙųñĐƭņǍğ͘ņŨ͘ƖƙųŦųƭņŨĸ͘ñŨė͘ǧğǓņĎŝğ͘ņŨ͘ņƭơ͘
visa policies will have a great advantage

The reason why the international tourist market to Vietnam is recov-
ering slowly is due to barriers such as limited and not diverse tourism
products, many entertainment areas at destinations have not been
”
fully opened, and visa policies for foreigners to enter Vietnam are still
restrictive.
Mr. Ly Ngoc Sang

Sales & Marketing representative – Japan Airlines

»ŀğ͘ĐųŨơƵŦğƙ͘ƖƙņĐğ͘Đƙņơņơ͘ñŨė͘ƭŀğ͘ĐųŨơğƘƵğŨĐğơ͘ųķ͘ņŨǧñƭņųŨ
“
will have certain impacts on tourism demand and decisions.
2023 will be a year of international tourism recovery and growth, but it will not
This will be most evident in the markets of Europe and the ³½ƎĊƎĊÖÏéÖŐ´éďƎĊƎ½īĄ½´ď½¹ƓƎ;éƎŕœŕŖƔƎďÔ½Ǝ½´íéíèĬƎĦÖääƎÎ´½ƎèéĬƎ´Ôää½éÏ½ĊƎ
such as increasing unemployment rates and high CPI, which will have an impact
United States where the situation of increasing consumer and
on the overall economy and the tourism industry in particular. Therefore, tours
”
travel prices is more serious. With the aftermath of pent-up ďíƎé½ć³ĬƎé¹ƎŎíć¹³ä½Ǝ¹½ĊďÖéďÖíéĊƎĦÖääƎďďć´ďƎèíć½ƎďíēćÖĊďĊƎďÔéƎÎćĦĬƎ
demand for travel, travelers will have more concerns when places.
Mr. Ly Ngoc Sang
“
choosing long-distance trips, and instead choose domestic or Sales & Marketing representative – Japan Airlines
regional destinations to reduce cost pressures.

½´ēĊ½Ǝ ďÔ½Ǝ ďíēćÖĊèƎ Öé¹ēĊďćĬƎ ÖĊƎ éíéƣ½ĊĊ½éďÖäƔƎ ÖďƎ ĦÖääƎ ³½Ǝ Ô½ĥÖäĬƎ Ŏ½´ď½¹Ǝ ³ĬƎ
Although the situation is more optimistic for markets in the
ďÔ½ƎÏ½é½ćäƎ½´íéíèÖ´ƎĊÖďēďÖíéƎĊē´ÔƎĊƎÖéÎäďÖíéƔƎĄćí¹ē´ďÖíéƎ¹Öŏ´ēäďÖ½ĊƔƎé¹Ǝ
ơņñ̿£ñĐņǦĐ͘ ƙğĸņųŨ̪͘ ƭŀğ͘ ǦŨñŨĐņñŝ͘ ĐųŨĐğƙŨơ͘ ǎņŝŝ͘ ơƭņŝŝ͘ ğǓņơƭ͘ ņŨ͘ ƭŀğ͘ decreased purchasing power. Vietnamese people's travel plans will depend
”
on the economic situation. We must wait until the economic situation and
group of travelers from these markets. There is still demand for
people's incomes are ensured before considering travel trends.
travel, but travelers will tend to consider more carefully when
Mr. Tran Sy Son
consuming tourism services. CEO – PYS TRAVEL

“
»ŀğ͘ĐųŨǦėğŨĐğ͘ųķ͘ƭŀğ͘ƭųƵƙņơŦ͘Ŧñƙřğƭ͘ŀñơ͘ėğĐƙğñơğė͘ėƵğ͘ƭų͘ƭŀğ͘ņŦƖñĐƭ͘ųķ͘ƭŀğ͘ņŨơƭñĎņŝņƭǔ͘
occurring in the investment market and the tourism real estate market.
I believe that the optimistic outlook for Vietnam's tourism in 2023 based on the Moreover, the forecast of inflation at 4.5% is quite optimistic, in my opinion. Prices of
growth of the economy, per capita income, and development of infrastructure is ćĦƎèď½ćÖäĊƎé¹Ǝ½ä½´ďćÖ´ÖďĬƎć½ƎèíéÏƎďÔ½ƎèíĊďƎĊÖÏéÖŐ´éďƎÎ´ďíćĊƎŎ½´ďÖéÏƎÖéÎäďÖíéƔƎ
quite subjective and far from the reality of economic indicators and market fore- and they are expected to increase. Raw material and electricity prices have not risen
casts. We can see that the real estate market is almost stagnant. Looking at what during the past two years of the pandemic, so they are almost certain to increase in the
is happening with large domestic real estate corporations and issues of stock near future. The basic salary level is also expected to decrease by 20% in the middle of
èćã½ďƎèéÖĄēäďÖíéƔƎēéÎíćďēéď½äĬƔƎääƎíÎƎďÔ½Ċ½ƎÎ´ďíćĊƎÔĥ½Ǝć½¹ē´½¹ƎďÔ½Ǝ´íéŐ- the year, which is a major factor contributing to inflation.
dence of the tourism market.
”
With all these factors, we can say that we enter 2023 with a certain degree of optimism,
³ēďƎďÔ½Ǝ´ďēäƎíĄ½ćďÖíéƎé¹Ǝ½´íéíèÖ´Ǝ¹ďƎĦÖääƎÏÖĥ½ƎēĊƎƎ´íèĄä½ď½äĬƎ¹ÖŎ½ć½éďƎĄÖ´ďēć½Ɠ
Mr. Marc Bittner

Director of Operations – Fusion Hotel Group
Mr. Marc Bittner
Director of Operations – Maintaining the growth momentum and heat of domestic tourism
Fusion Hotel Group
demand will face many challenges as domestic air travel costs are
increasing. In addition, the reopening of international destinations
will also attract Vietnamese tourists to shift towards more attrac-
”
tive and reasonably priced international destinations.
The high cost of raw materials as well as the slow recovery of the
international tourism market and outbound travel of Vietnamese
“
tourists have led airlines to report losses in 2022. This may lead to
½Ǝ´éƎĊ½½ƎďÔďƎ¹íè½ĊďÖ´ƎÎäÖÏÔďƎďÖ´ã½ďƎĄćÖ´½ĊƎÔĥ½ƎÖé´ć½Ċ½¹ƎĊÖÏéÖŐ´éďäĬƎĊÖé´½Ǝ
airlines increasing ticket prices in 2023 to offset the losses from pre-
the beginning of 2023. While this may be due to domestic airlines trying to make
up for years of losses, it also poses a challenge for Vietnam's tourism industry. ǍņųƵơ͘ ƭņŦğơ̩͘ ơ͘ ñŨ͘ ğǓñŦƖŝğ̪͘ ñņƙŝņŨğ͘ ƭņĐřğƭ͘ ƖƙņĐğơ͘ ŀñǍğ͘ ñŝƙğñėǔ͘ ņŨ-
How can we maintain domestic tourism demand while at the same time attract-
Đƙğñơğė͘ơņĸŨņǦĐñŨƭŝǔ͘ơņŨĐğ͘ƭŀğ͘ĎğĸņŨŨņŨĸ͘ųķ͘˫˩˫ˬ̩
”
ing international tourists, especially since Vietnam is among the countries with
the slowest recovery rate in the region.

NOTALBE TRAVEL CHARACTERISTICS AND BEHAVIORS IN 2023
Finding smarter and more curated vacation options
sćĥ½ä½ćĊƎĦÖääƎĊ½½ãƎ¹ÖŎ½ć½éďƎĦĬĊƎďíƎ½éâíĬƎďÔ½Ǝ³½é½ŐďĊƎíÎƎďćĥ½äƎé¹ƎďćÖĄĊƎĦÖďÔíēďƎ sÔ½ć½Îíć½ƔƎ ¹½ĊĄÖď½Ǝ Őéé´ÖäƎ ´íé´½ćéĊƔƎ èéĬƎ Ą½íĄä½Ǝ ĦÖääƎ ĊďÖääƎ èÖéďÖéƎ Ǝ ĊďćíéÏƎ
¹¹ÖéÏƎďíƎďÔ½ƎŐéé´ÖäƎĄć½ĊĊēć½Ǝ´ēĊ½¹Ǝ³ĬƎÖéÎäďÖíéƎé¹ƎćÖĊÖéÏƎäÖĥÖéÏƎ´íĊďĊƓƎsÔ½Ǝ demand for entertainment experiences and will seek to satisfy it through smarter
uncertainty and increasing costs will make those who had a revengeful attitude vacation choices. It could be shorter vacations, closer destinations, and choosing
towards travel last year more cautious in their choices. services that ensure the cost paid is proportional to the actual value received
when consuming.
68% 63% 61%

Travelers prioritize tourism Travelers will plan their Travelers will plan their trip
and seek experiences that budgets more tightly by further in advance in the
correspond to the costs taking advantage of hope of getting a better
incurred. íŎ½ćĊƔƎ ďÖĄĊƎ é¹Ǝ ďÖè½äĬƎ deal.
(booking.com) travel. (booking.com)
(booking.com)
60% 53%
3í´ēĊƎíéƎŐéé´ÖäƎĥäē½ƎďÔćíēÏÔƎ Tourists choose to travel
discounts and loyalty scheme. íŎƣĊ½ĊíéƎ íćƎ ĥÖƎ äíéÏ½ćƎ ćíēď½ĊƎ
(booking.com) to save costs.
(booking.com)

Travel has become a way to seek health value and mental balance
If in some previous years the wellness tourism trend was one of the shaping trends Some themes that can be drawn from this trend include: rejuvenation travel,
of the market, after the pandemic, wellness in tourism is now more clearly and relaxation, carbon-neutral tourism... Tourists tend to choose new destinations,
widely accepted, becoming a part of the demand and a requirement for some healing experiences, or select destinations or accommodations with health
groups of customers on their trips. care activities.
44 %
42 %
Travelers have a growing interest in seeking Want to take a health break focusing on mental
ĊĄÖćÖďēäƎÎēäŐääè½éďƎé¹ƎèĬƎÏíƎíéƎè½¹ÖďďÖíéƎíćƎ health, transformative health or life milestones
mindfulness retreats like menopause or pregnancy.
(booking.com) (booking.com)
For those seeking more advanced spiritual experiences, alternative substances such as herbal psychedelics
ĦÖääƎ³½´íè½ƎƎèíć½Ǝ´íèèíéƎíŎ½ćÖéÏƔƎĦÖďÔƎŖřǤƎĦéďÖéÏƎďíƎďćĬƎďÔÖĊƎďĬĄ½ƎíÎƎ½īĄ½ćÖ½éďÖäƎĦ½ääé½ĊĊƎ½īĄ½ćÖ½é´½Ǝ
as part of their travels in 2023.

Sustainability factors become the default standard
An increasing number of tourists are looking to create positive impacts on the Companies and service providers sensitive to this changing demand will begin to
Ąä´½ĊƎďÔ½ĬƎĥÖĊÖďƔƎ³ēďƎďÔ½ĬƎÎ½½äƎÖďƿĊƎ¹Öŏ´ēäďƎďíƎďã½Ǝć½ĊĄíéĊÖ³ÖäÖďĬƎÎíćƎďÔďƎé¹ƎĦÖääƎ reorganize their activities to make responsible consumption and tourism easier.
rely on leading tour companies to easily create sustainability. "ŎíćďĊƎďíƎĄćíèíď½Ǝ´ÔéÏ½ĊƎÖéƎďÔ½Ǝ¹½ĊÖÏéƎíÎƎć½ĊíćďƎé¹Ǝ½éď½ćďÖéè½éďƎ½īĄ½ćÖ½é´½ĊƎ
will be highly valued by conscious groups of tourists.
73.8 %
57.3%
In 2022, tourism industry management recognizes Tourism industry management observes that
that their customers are increasingly interested in their customers are willing to pay more for
sustainability. sustainable service products.
(Euromonitor’s survey) (Euromonitor’s survey)
ĊƎ ďÔ½Ǝ ŐćĊďƎ ďÔć½½Ǝ ³ćé¹ĊƎ ďíƎ ÖèĄä½è½éďƎ ďÔ½Ǝ sćĥäĬĊďƎ ĊēĊďÖé³ä½Ǝ ĥÖďÖíéƎ
standards framework for their users on their platforms.

After a strong recovery in 2022, international tourism is expected to return to The recovery will continue throughout 2023, even as the tourism industry faces
pre-pandemic levels in some regions such as Europe and the Middle East this challenges in the economy, health, and geopolitical issues. The recent lifting of
year. Based on UNWTO's recovery scenarios for 2023, international tourist ar- COVID-19-related travel restrictions in China, the world's largest outbound
rivals may reach 80% to 95% of pre-pandemic levels this year, depending on tourism market in 2019, is an important step for the recovery of the tourism in-
ďÔ½Ǝ¹½Ïć½½ƎíÎƎ½´íéíèÖ´Ǝ¹íĦéďēćéƔƎďíēćÖĊèƎć½´íĥ½ćĬƎÖéƎĊÖƎé¹ƎďÔ½Ǝh´ÖŐ´ƔƎďÔ½Ǝ ¹ēĊďćĬƎÖéƎĊÖƣh´ÖŐ´Ǝé¹ƎĦíćä¹ĦÖ¹½ƓƎ;éƎďÔ½ƎĊÔíćďƎď½ćèƔƎć½´íéé½´ďÖéÏƎďíēćÖĊèƎ
situation of Russia's attack on Ukraine, and other factors. ÎćíèƎÔÖéƎ´éƎ³½é½ŐďƎ¹½ĊďÖéďÖíéĊƎÖéƎĊÖƎé¹ƎĊĄ½´ÖŐ´ääĬƎÖ½ďéèƓ
MARKET
2023
RECOVERY
PREDICTION
THE EXPECTATION IS THAT THE RETURN OF OUTBOUND TOURISM
FROM THE CHINESE MARKET WILL CREATE AN IMPORTANT BOOST
FOR THE RECOVERY OF DESTINATIONS IN THE ASIA-PACIFIC REGION.
Global international tourism spending is projected to reach 83% of its 2019 peak and fully recover by 2024. The return of the Chinese outbound market will gradually pick up in Q1
2023, as the number of Covid variants still increases on the mainland and political tensions with travel restrictions in place in some areas. It is expected that the comeback wave
of the world's largest outbound market will accelerate from Q2 2023 onwards, with an estimated increase of over 400% in international tourism spending in 2023 (Euromonitor).
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2018 (150 MN) 2019 (155 MN) 2020 (20 MN) 2021 (20 MN) 2022 (89 MN) 2023 (174 MN) 2024 (192 MN)
Number of outbound trips by Chinese travelers

2018- 2024F, MN PAX
Before COVID COVID Projection Source: Oliver Wyman analysis, OAG

THE RETURN TIMING OF CHINESE TOURISTS
International tourism from China is expected to resume in Q2, especially during the
Labor Day at the beginning of May.
The most sought-after destinations include Singapore, Bangkok, Tokyo, and Seoul.
China’s Domestic Capacity

When Do You Plan
to Travel Outbound in 2023?
Chinese New Year (21 - 27 Jan) 14%
Qing Ming Festival (5 Apr) 5%
Labor day (29 Apr - 3 May) 14%
China’s International Capacity

Dragon Boat Festival (22 - 24 Jun) 6%
Summer (July and August) 42%
Mid-Autumn Festival/National Day 32%
(29 Sep - 6 Oct)
Source: Dragon Trail’s Survey Source: OAG

VIETNAM'S TOURISM INDUSTRY IN 2023 NEEDS MORE COORDINATED EFFORTS
TO ATTRACT BACK INTERNATIONAL VISITORS TO THE COUNTRY
sÔ½Ǝć½´íĥ½ćĬƎíÎƎÖéď½ćéďÖíéäƎďíēćÖĊèƎÖéƎ¹ÖŎ½ć½éďƎć½ÏÖíéĊƎÖĊƎ½īĄ½´ď½¹ƎďíƎĥćĬƎĊÖÏ- For Vietnam's international tourism in 2023, with the return of the Chinese
éÖŐ´éďäĬƓƎ;ďƎÖĊƎÎíć½´Ċď½¹ƎďÔďƎďÔ½Ǝèćã½ďĊƎÎćíèƎMíćďÔƎè½ćÖ´Ǝé¹Ǝ"ēćíĄ½ƎĦÖääƎ market, it is expected to attract important markets with high proportions
recover to 84.2% and 85.8%, respectively, compared to the total number of trips such as China, Japan, South Korea, Taiwan, as well as distant markets such as
taken in 2019. the United States, the United Kingdom, and Australia. Considering the impact
Markets from Southeast Asia and Northeast Asia are expected to recover faster, Î´ďíćĊƎ é¹Ǝ ďÔ½Ǝ ´ííć¹Öéď½¹Ǝ ½ŎíćďĊƎ íÎƎ ¹½ĊďÖéďÖíéƎ èéÏ½è½éďƎ Ï½é´Ö½ĊƎ
but the total number of trips from these markets in 2023 is still projected to be and businesses, it is expected that Vietnam's international tourism recovery
31.1% and 37.1% below the 2019 level. in 2023 will reach 60%-65% of the 2019 level.
sÔ½Ǝ½īĄ½´ďďÖíéĊƎÎíćƎďÔ½Ǝć½´íĥ½ćĬƎíÎƎíēď³íēé¹ƎďíēćÖĊèƎÖéƎ¹ÖŎ½ć½éďƎèćã½ďĊ
8.5% 15.4% 9.2%
6.7% 6.7%
3.4%
-0.8%
NORTH AMERICA -2.0%
EUROPE NORTH EAST ASIA -4.9% SOUTH EAST ASIA SOUTH ASIA OCEANIA -3.8%
-14.2% -13.6% -14.9%

-15.8%
-25.1%
-30.3% -31.1% -31.3%

-34.9% -37.1%
-55.2%
-58.4%
-61.1%
-65.9%
-67.8%
-68.4% -70.0%
-75.8% -76.3%
-81.4% -83.2%
-86.1% -86.6%
-88.0%
-92.4%
-97.5%
2020 2021 2022 2023 (f) 2024 (f) 2025 (f) Source: Tourism Economics
VIETNAM AWAITS THE RETURN OF
DOMINANT INTERNATIONAL VISITOR MARKETS
After a year of reopening, international arrivals to Vietnam have had a bumpy restart The recent lifting of COVID-19-related travel restrictions in the People’s Republic
with more obstacles than forecasted. According to VNAT’s statistics, Vietnam will íÎƎÔÖéƔƎďÔ½ƎĦíćä¹ƹĊƎäćÏ½ĊďƎíēď³íēé¹Ǝèćã½ďƎÖéƎŕœŔŜƔƎÖĊƎƎĊÖÏéÖŐ´éďƎĊď½ĄƎÎíćƎďÔ½Ǝ
only welcome 2.7 million international visitors in 2022, at -85% compared to 2019. ć½´íĥ½ćĬƎ íÎƎ ďÔ½Ǝ ďíēćÖĊèƎ Ċ½´ďíćƎ ÖéƎ ĊÖƎ é¹Ǝ ďÔ½Ǝ h´ÖŐ´Ǝ é¹Ǝ Ħíćä¹ĦÖ¹½ƓƎ Qēď³íēé¹Ǝ
This result is largely due to the absence of visitors from top key markets. Thailand travel of Chinese tourists is forecast to reach 110 million in 2023, nearly two third of
presented the highest rate of return reaching 31.8% of the 2019 level. Meanwhile, the ŔŘŘƎèÖääÖíéƎďćÖĄĊƎÖéƎŕœŔŜƓƎsÔ½Ǝć½ďēćéƎíÎƎďÔÖĊƎèćã½ďƎÖĊƎĊÖÏéÖŐ´éďƎÎíćƎďÔ½ƎhƎć½ÏÖíéƔƎ
4 major markets accounting for nearly 65% of the total number of visitors shared the with China accounting for a quarter of total international arrivals. Southeast Asia
same slow pace of returning flow at 17.9% and 1.2% for Korean and Chinese markets, and Northeast Asia are particularly dependent on China as an important source
respectively. market.
Observing the pattern of international markets returned in 2022, it can be seen that Outbound travel from South Korea is projected to exceed pre-pandemic levels by
short-haul and medium-haul markets including neighboring countries such as Thailand, 2024 with international departures increasing at a compound annual growth rate
and Malaysia, and from sub-regions such as South Korea, Japan, and Taiwan tend to (CAGR) of 7.3% from 2022 to 2025. By 2025, international departures are expected
return faster. Long-haul markets like Europe will return more slowly due to the costs to reach 30.3 million.
of air travel and the concerns among travelers about the impact of rising consumer
A weakening Yen (￥) is one of the factors that stimulate demand for international
prices and inflation.
ďćĥ½äƎďíƎFĄéƔƎďÔÖĊƔƎÔíĦ½ĥ½ćƔƎÔĊƎďÔ½ƎíĄĄíĊÖď½Ǝ½Ŏ½´ďƎíéƎďÔ½ƎFĄé½Ċ½Ǝíēď³íēé¹Ǝ
as traveling overseas becomes more expensive for Japanese people. In contrast to
airfares for flights to Japan skyrocketing in demand, airfares for flights from Japan
to other countries are still 20% below pre-pandemic levels.

SHORT-TERM OUTLOOK FOR With current low levels of demand in key source markets, combined with a highly
uncertain outlook, the return of international visitors to Vietnam is expected to

INTERNATIONAL TOURISM OF VIETNAM be lagging. This will be a process and may last until the end of 2024.
According to the recovery momentum The most positive scenario is when However, in the less optimistic scenarioƔƎĦÔ½éƎďÔ½Ǝēé´½ćďÖéďĬƎÎćíèƎďÔ½Ǝ½Ŏ½´ďĊƎ
of important source markets from mid the recovery speed of the markets íÎƎ ďÔ½Ǝ ½´íéíèÖ´Ǝ ½éĥÖćíéè½éďƎ é¹Ǝ ďÔ½Ǝ Ő½ć´½Ǝ ć´½Ǝ ďíƎ ďďć´ďƎ ³´ãƎ ďÔ½Ǝ ÔÖé½Ċ½Ǝ
and late 2022 to now, ďÔ½ƎèíĊďƎäÖã½äĬƎ reaches the optimal level will bring tourist market from destinations in the region will create tremendous challenges.
recovery prospect for international Vietnam’s international tourism to 10 Due to these pressures, the recovery of international tourism in Vietnam only
tourism to Vietnam is 40% of the million arrivals, equivalent to 60% of reached 6.3 million arrivals, which is 35% of the pre-pandemic level.
pre-pandemic level, equivalent to 7.2 the 2019 level.
million arrivals.
Scenarios of international tourism recovery in 2023

20
18
16
History
14
Base case
International arrivals (mil.)
12
10
Best case
8
6
Worst case
2018 2019 2020 2021 2022 2023 (f)

EXPANDING THE MARKET...
THE EMERGING STORY OF THE INDIAN MARKET.
Destinations are trying to restore their tourism-dependent economy as well as India has all the necessary ingredients to become a formidable foreign tourism
reduce their reliance on the Chinese market. By identifying new source markets, market. As the world's second most populous country and with the fastest growing
;é¹ÖƎ ÖĊƎ ÖéƎ èéĬƎ ĦĬĊƎ ďÔ½Ǝ Îćíéďćēéé½ćƎ ÖéƎ ďÔ½Ǝ ½ŎíćďĊƎ ďíƎ ć½ƣććéÏ½Ǝ ďÔ½Ǝ ďíēćÖĊèƎ economy, this market has shown signs of strength as well as signals of real growth
market order. coming. However, it may take a few years for India to become an attractive inter-
national tourism market globally.
143% 29 million 2024

Foreign tourist arrivals growth in Indian international tourist Forecast for the foreign tourism
India between 2009 and 2019 departures in 2019 market to fully recover and surpass
(India MOT) (India MOT)

42 billion USD

SOME CHARACTERISTICS OF INDIAN TOURISTS
;é¹ÖƎ½è½ćÏ½¹ƎďÔ½ƎèíĊďƎ´íéŐ¹½éďƔƎĦÖďÔƎśřǤƎĊďďÖéÏƎďÔ½ĬƎÖéď½é¹ƎďíƎďćĥ½äƎÖéƎďÔ½Ǝ
709,909 2,572,818
next 12 months, followed closely by Vietnam and China. 825,178
70,033
78% of Indian travelers consider leisure travel as important while COVID-19 4,714,836
2,289,752
restrictions are still in place.
372,483
87% of Indian travelers feel comfortable about India reopening its borders to
662,927
international travellers.
1,488,152
93% of Indian travelers agree on the importance of making sustainable travel
decisions, with 77% of Indian travellers okay with less accommodation variety
as long as their travel decisions are sustainable.

13,026,259
níēć´½ƕƎííãÖéÏƓ´íèƹĊƎƎhƎsćĥ½äƎíéŐ¹½é´½Ǝ;é¹½ī
North America Central & South America Western Europe Popular international destinations
Eastern Europe Africa West Asia
among Indian tourists in 2019
(India MOT)
South Asia Southeast Asia East Asia
Oceania

+84(0) 28 6275 5726 www.the-outbox.com info@the-outbox.com

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VIETNAM TOURISM

is to embrace data-driven making-decision and promote the development of

èãÖéÏƎÖďƎèíć½Ǝ¹Ąď³ä½ƎďíƎéƎ½ĥ½ćƣ´ÔéÏÖéÏƎ³ēĊÖé½ĊĊƎäé¹Ċ´Ą½Ɠ “Vietnam Tourism Outlook 2023” report is a publication belonging

¹½ĊďÖéďÖíéĊƎé¹Ǝ³ēĊÖé½ĊĊ½ĊƔƎēéäí´ãÖéÏƎďćĥ½ä½ćĊƹƎÖéĊÖÏÔďĊƎĦÖääƎÏÖéƎĊÖÏéÖŐ´éďƎ may be reproduced, distributed, or transmitted in any form or by any

´íèĄ½ďÖďÖĥ½Ǝ¹ĥéďÏ½ĊƎé¹ƎĊďé¹ƎíēďƎÖéƎďÔ½ƎÖé¹ēĊďćĬƓƎQēćƎâí³ƎÖĊƎďíƎ´äíĊ½ƎďÔ½Ǝ means, including photocopying, recording, or other electronic or

ďćĥ½äƎèćã½ďƎÖéď½ääÖÏ½é´½Ɠ Outbox Company. Unauthorized commercial use. Reproduction in

whole or part is prohibited.

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variant outbreak was overshadowed by reports

wãćÖé½ƓƎ ;éƎ ďÔ½Ǝ ĊÔíćďƎ ď½ćèƔƎ ďÔ½Ǝ ć½ćíēďÖéÏƎ íÎƎ ÖćƎ

ďćŏ´Ǝ ďíƎ ĥíÖ¹Ǝ kēĊĊÖéƎ ÖćĊĄ´½Ǝ ÔĊƎ Öé´ć½Ċ½¹Ǝ

threats, including escalating political tensions ´íĊďĊƎÎíćƎÖćäÖé½ĊƓ

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THE RECOVERY PROCESS

HOW TO COPE WITH THE PANDEMIC

Although CHINESE MARKET

recovery of the region, other markets have taken

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THAN EXPECTED Ö½ďéèƔƎĊēćĄĊĊÖéÏƎďÔ½ƎĊ½´íé¹ƣćéã½¹Ǝèćã½ďƔƎníēďÔƎGíć½ƔƎ³ĬƎíĥ½ćƎŔƓřƎèÖääÖíéƎ

The Australian market

Therefore, when the Chinese market was removed

from the overall picture, the sporadic return of

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-55% -69% -71% -75% -76% -77%

this important market, tourism businesses and local

governments in various destinations have learned a

lesson about over-reliance on the Chinese market, and

example, Thailand and other Southeast Asian coun-

ďćÖ½ĊƎ Ôĥ½Ǝ ďćÏ½ď½¹Ǝ ;é¹ÖƎ ĊƎ ďÔ½ÖćƎ é½ĦƎ èÖéƎ Ċíēć´½Ǝ

èćã½ďƓƎ ;é¹íé½ĊÖƎ ÖĊƎ ÖèĄä½è½éďÖéÏƎ Ǝ é½ĦƎ ¹ÖÏÖďäƎ ĥÖĊƎ

top destination for meetings, incentives, conferences,

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wéÖď½¹Ǝnďď½Ċ 215.3 4,290.8

ēĊďćäÖ 99.2 746.2

kēĊĊÖ 28.1 383.5

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Accomondation & Food service Tour operatoring service

2019 2020 2021 (vs 2019) 2022 (vs 2019)

demand for domestic tourism. The demand for outbound tourism by

Vietnamese people has also gradually increased since mid-2022,

although the choice of destinations is still limited due to Covid-19

regulations still being applied in some places.

due to the ongoing pandemic, síƎĄ½íĄä½Ǝ´ÔííĊ½ƎďíƎďćĥ½äƎ¹íè½ĊďÖ´ääĬƎÖéĊď½¹Ɠ

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Operated flights (thousands of flights)

Capacity change vs same month in 2019

Source: Civil Aviation Authority of Vietnam Source: OAG

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ć½´íĥ½ćĬƎ ÖéƎ Öéď½ćéďÖíéäƎ ĄĊĊ½éÏ½ćƎ ¹½èé¹ƓƎ sÔ½Ǝ ĊÖďēďÖíéƎ íÎƎ èéĬƎ

normal operating expenses such as aircraft maintenance and labor

14 l The Outbox Company

the increase in both leisure and business travel in 2023.

15 l The Outbox Company

throughout 2022, it is that travelers

16 l The Outbox Company

Visa policy Prospects of Vietnam's Investment / Tourism Domestic airfare

17 l The Outbox Company

some other countries such as Thailand and Cambodia, so international

visa policies will have a great advantage

products, many entertainment areas at destinations have not been

Mr. Ly Ngoc Sang

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èãÖéÏƎÖďƎèíć½Ǝ¹Ąď³ä½ƎďíƎéƎ½ĥ½ćƣ´ÔéÏÖéÏƎ³ēĊÖé½ĊĊƎäé¹Ċ´Ą½Ɠ “Vietnam Tourism Outlook 2023” report is a publication belonging

¹½ĊďÖéďÖíéĊƎé¹Ǝ³ēĊÖé½ĊĊ½ĊƔƎēéäí´ãÖéÏƎďćĥ½ä½ćĊƹƎÖéĊÖÏÔďĊƎĦÖääƎÏÖéƎĊÖÏéÖŐ´éďƎ may be reproduced, distributed, or transmitted in any form or by any

´íèĄ½ďÖďÖĥ½Ǝ¹ĥéďÏ½ĊƎé¹ƎĊďé¹ƎíēďƎÖéƎďÔ½ƎÖé¹ēĊďćĬƓƎQēćƎâí³ƎÖĊƎďíƎ´äíĊ½ƎďÔ½Ǝ means, including photocopying, recording, or other electronic or

ďćĥ½äƎèćã½ďƎÖéď½ääÖÏ½é´½Ɠ Outbox Company. Unauthorized commercial use. Reproduction in

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ďćŏ´Ǝ ďíƎ ĥíÖ¹Ǝ kēĊĊÖéƎ ÖćĊĄ´½Ǝ ÔĊƎ Öé´ć½Ċ½¹Ǝ

threats, including escalating political tensions ´íĊďĊƎÎíćƎÖćäÖé½ĊƓ

THAN EXPECTED Ö½ďéèƔƎĊēćĄĊĊÖéÏƎďÔ½ƎĊ½´íé¹ƣćéã½¹Ǝèćã½ďƔƎníēďÔƎGíć½ƔƎ³ĬƎíĥ½ćƎŔƓřƎèÖääÖíéƎ

ďćÖ½ĊƎ Ôĥ½Ǝ ďćÏ½ď½¹Ǝ ;é¹ÖƎ ĊƎ ďÔ½ÖćƎ é½ĦƎ èÖéƎ Ċíēć´½Ǝ

èćã½ďƓƎ ;é¹íé½ĊÖƎ ÖĊƎ ÖèĄä½è½éďÖéÏƎ Ǝ é½ĦƎ ¹ÖÏÖďäƎ ĥÖĊƎ

wéÖď½¹Ǝnďď½Ċ 215.3 4,290.8

ēĊďćäÖ 99.2 746.2

kēĊĊÖ 28.1 383.5

due to the ongoing pandemic, síƎĄ½íĄä½Ǝ´ÔííĊ½ƎďíƎďćĥ½äƎ¹íè½ĊďÖ´ääĬƎÖéĊď½¹Ɠ

ć½´íĥ½ćĬƎ ÖéƎ Öéď½ćéďÖíéäƎ ĄĊĊ½éÏ½ćƎ ¹½èé¹ƓƎ sÔ½Ǝ ĊÖďēďÖíéƎ íÎƎ èéĬƎ

èćã½ďƎèéÖĄēäďÖíéƔƎēéÎíćďēéď½äĬƔƎääƎíÎƎďÔ½Ċ½ƎÎ´ďíćĊƎÔĥ½Ǝć½¹ē´½¹ƎďÔ½Ǝ´íéŐ- the year, which is a major factor contributing to inflation.

rely on leading tour companies to easily create sustainability. "ŎíćďĊƎďíƎĄćíèíď½Ǝ´ÔéÏ½ĊƎÖéƎďÔ½Ǝ¹½ĊÖÏéƎíÎƎć½ĊíćďƎé¹Ǝ½éď½ćďÖéè½éďƎ½īĄ½ćÖ½é´½ĊƎ

situation of Russia's attack on Ukraine, and other factors. ÎćíèƎÔÖéƎ´éƎ³½é½ŐďƎ¹½ĊďÖéďÖíéĊƎÖéƎĊÖƎé¹ƎĊĄ½´ÖŐ´ääĬƎÖ½ďéèƓ

éÖŐ´éďäĬƓƎ;ďƎÖĊƎÎíć½´Ċď½¹ƎďÔďƎďÔ½Ǝèćã½ďĊƎÎćíèƎMíćďÔƎè½ćÖ´Ǝé¹Ǝ"ēćíĄ½ƎĦÖääƎ market, it is expected to attract important markets with high proportions