Booking.com’s APAC Travel Confidence Index 2023 reveals behavior of Vietnamese travelers and how economic uncertainty is impacting their mindset and plans to explore the world.
Booking.com, one of the world’s leading online travel companies, today released the 2023 edition of its APAC Travel Confidence Index (TCI). The report offers insights into the mindsets of APAC travelers and the profound impact of economic and global uncertainties on their travel decisions. While 40% of Vietnamese respondents have mentioned financial concerns as one of their top considerations when traveling, 83% have expressed their intent to travel for leisure in the next 12 months.
The TCI 2023 research, commissioned by Booking.com and conducted independently by Milieu Insight, involved a survey of over 8,000 travelers from 11 countries and territories across APAC, including Vietnam, conducted between April and May 2023. It presents an in-depth analysis of travel confidence and sustainability interest across various destinations in APAC.
Additionally, the report unveils four distinctive traveller personas for the first time, providing valuable insights into their prime motivations, priorities and travel behaviours. This year’s report shows that Vietnam is the only market in the APAC who are ‘Mindful Voyagers’ – those who have a deliberate and thoughtful travel approach, driven by their sense of responsibility to the environment and desire to help local communities, meaning highest interest regarding sustainable travel.
Travel Behaviors
When it comes to travel behavior, Vietnamese are likely to crave for a more challenging experience with 38% of respondents confirming the same. This is followed by a strong inclination to explore their own country (35%) and travel to lesser-known destinations (34%).
For almost half (45%) of Vietnamese, leisure travel is considered ‘very important’ now that travel has fully resumed post-COVID. With 83% Vietnamese travelers said they were planning to travel in the next 12 months, almost half (45%) have responded that they have already booked their domestic trip for the upcoming 12 months and 26% have already booked for their next international trip.
Travel Motivators
When taking a closer look at their motivations to travel, a common theme is growth and relaxation. More than one-third (35%) have expressed that relaxation and rejuvenation of mind and body, along with healthier living motivate them to travel; 30% have shared that the desire to learn about other cultures is driving their interest to explore the world; and 29% are motivated to travel for interpersonal reasons such as meeting new people, reconnecting with loved ones, and seeking new experiences.
Top Travel Concerns
While there is a desire to travel, there are some travel concerns that are also facing travelers in Vietnam and across APAC. Travelers are most concerned about their financial situation as well as health risks during travel and potential travel disruptions.
- 40% of Vietnamese travelers have financial concerns when choosing to embark on their travel (Thailand 57%, New Zealand 55%)
- Fear of contracting COVID-19 or other diseases during travel is another worry that nearly half (40%) of Vietnamese travelers are having (Singapore 42%, Thailand 36%)
- 30% shared that they felt bothered by the processes and administrative hassles involved in planning travel including having to undergo quarantine either at destination or in their home country (30%), and complex, costly and long visa procedures (25%).
To save on travel costs, 44% stated that they are inclined to travel during off-peak times, 43% would take advantage of loyalty programmes to further offset travel costs, and 28% would select less expensive means of traveling for their trip.
Top Places and Activities of Interest while Traveling
When it comes to places and activities of interest, Vietnamese travelers show a significant inclination towards islands and beaches (61%), followed by cities (60%) and sports/physical activities (45%).
“Despite the many economic uncertainties which Vietnamese face and anticipate, it is encouraging to see their continued willingness to travel and explore their country and beyond,” said Varun Grover, Country Head, Vietnam at Booking.com. “Understanding how economic uncertainties have affected the preferences of Vietnamese travelers, Booking.com remains committed to offer a simple and easy experience to book, plan, and manage their travels all in one platform. With our continuously expanding offerings, travelers have more to discover as they personalize their own travels.”
@ Booking.com
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Source: Vietnam Insider