Vietnam’s tourism sector is poised for significant growth, with international arrivals expected to hit 20-25 million annually in the near future. According to IHG Hotels & Resorts, the country has already welcomed 14 million international visitors in the first 10 months of 2024 and is on track to close the year with 18 million arrivals, signaling a robust recovery from the impacts of the COVID-19 pandemic.
Rajit Sukumaran, Senior Vice President and Managing Director of East Asia-Pacific at IHG, affirmed that Vietnam’s tourism has fully rebounded to pre-pandemic levels. “The number of international tourists to Vietnam this year could reach 18 million, and this figure is expected to rise to 20-25 million in the coming years as demand for travel to Vietnam continues to surge,” he said.
Key factors contributing to the resurgence of Vietnam’s tourism sector include Visa Policy Reforms: Simplified visa processes to attract more visitors; Enhanced Air Connectivity: Increased flights linking Vietnam to major global markets; Innovative Tourism Offerings: Development of unique and diverse tourism products.
These advancements have solidified Vietnam’s reputation as one of the world’s most attractive travel destinations. The country has recently earned international recognition, ranking 8th among Asia’s most attractive and safe destinations, according to Best Diplomats, an international diplomatic training organization. Additionally, Travel Off Path highlighted Vietnam as one of Asia’s top destinations, and Time Out listed Vietnam as one of the “9 Safest Destinations in the World for Female Solo Travelers”, the only Southeast Asian country on the list.
Challenges and Opportunities
Despite this growth, industry experts highlight the need to address gaps in luxury travel offerings. Vivek Bhalla, Managing Director of Southeast Asia and Korea at IHG, noted a lack of high-end accommodations tailored to luxury travelers.
To meet this demand, IHG plans to expand its presence in Vietnam’s luxury and lifestyle segments. Upcoming developments include the launch of Vignette Collection in Hoi An; The debut of Hotel Indigo in Ho Chi Minh City, offering localized and personalized experiences.
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Located in the center of Ho Chi Minh City, Tan Dinh Church is also a highlight attracting domestic and foreign tourists to visit, admire and take pictures.Broader Hospitality Expansion
IHG is also expanding in other hotel segments to cater to diverse traveler needs: Crowne Plaza: Five new properties are in the pipeline; voco Hotels: The brand will debut in Quang Binh with the opening of voco Quang Binh Resort; Holiday Inn: The brand is set to expand with nine additional hotels across Vietnam, complementing its current locations in Ho Chi Minh City and Ho Tram.
Future Growth Prospects
IHG aims to double its presence in Vietnam, growing its portfolio from 16 hotels (4,800 rooms) to over 40 hotels (12,000 rooms) in the coming years.
“With Vietnam’s tourism showing strong growth potential, we are confident in our ability to scale our operations and meet the increasing demand across all market segments,” said Mr. Bhalla.
This expansion underscores global confidence in Vietnam’s position as a leading global tourism destination.
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Source: Vietnam Insider