The Outbox Company (Outbox), a market research and tourist data analysis company in Vietnam, released an analysis report, “Vietnam Travel Landscape 2024”, on January 17.
This comprehensive report offers a detailed analysis of the current state as well as the challenges and future prospects of Vietnam’s tourism industry in 2024.
A year of market diversification for Vietnamese tourism
The report highlights the encouraging success of Vietnamese tourism in exceeding the target of visitors in 2023. In early 2023, Vietnam expected to welcome 8 million international visitors, but in October, this number was adjusted to 12.5-13 million.
Last year, Vietnam's tourism industry recorded a significant recovery with 12.59 million international tourists, nearly four times higher than in 2022. The number of domestic tourists reached 103.2 million, exceeding the target by 168.3%, far surpassing the number of 85 million visitors in 2019.
Outbox also noted that the bright spot of Vietnamese tourism in the past year was the diversity of international source markets, from established to emerging and niche markets. In particular, meanwhile, the East Asian markets such as China, the Republic of Korea and Taiwan (China) are the primary sources, and growth potential is also recorded from other regions. India has also emerged as an attractive market for Vietnam's tourism industry.
In addition to positive factors, Outbox also pointed out the challenges of Vietnamese tourism in the past year. The country’s tourism recovery rate in the first three quarters of 2023 stood at only 44%, the lowest among five popular Southeast Asian destinations. Notably, the absence of Chinese tourists remains a significant factor in the lower numbers.
Moreover, Vietnam’s tourism still faces challenges in catching up with other countries in the region, such as Thailand and Malaysia, in diversifying and attracting international tourists back to the country.
The prospects of Vietnam’s tourism industry in 2024
Outbox's survey shows that Vietnam's aviation industry has recovered impressively after travel restrictions due to COVID-19 were eased. Vietnam also quickly became the domestic aviation market with the fastest recovery in the world and is expected to be the 5th fastest-growing aviation market globally by 2035. In addition, despite the challenges of the year 2022 and rising operating costs in 2023, Vietnam's hotel industry shows resilience.
Outbox also pointed out the main trends of tourism in Vietnam in particular and the Asia-Pacific region in general in 2024. Accordingly, in the tourism segment, visitors will love personalised experiences suitable for health, such as eco-tourism, sports and adventure.
This year, tourists also favour sustainable travel, choosing hotels that prioritise sustainable initiatives.
The tourism industry will also witness the trend of integrating artificial intelligence (AI) applications to support the capabilities and enhance the position of travel agents in 2024.
