Vietnam tourism revenue to reach US$ 8.7 billion by 2013

With the growing investment and increase in the number of health tourists, the tourism sector in Vietnam is all set to post double-digit growth rate.

According to a new report by research firm RNCOS, titled “Vietnam Tourism Industry Forecast to 2012”, the tourism industry in Vietnam is set for stupendous growth in the coming years. Owing to the promotional activities of government to boost tourism and increase in the MICE tourism, the tourism receipts in Vietnam are expected to reach US$ 8.7 billion by 2013 at a double-digit growth rate since 2010.

The report has identified various factors that contribute to the tourism industry growth. For instance - rising disposable income and improving economy will play an important role in boosting the tourism receipts. Additionally, the 1,000th anniversary of Thang Long-Hanoi in combination with National Tourism year will affect the tourism industry in a positive manner. The number of different events in 2010 will help the industry to witness sustainable growth.

Moreover, the country is benefited from growth in the health tourism which has shown an increase of 30% (in terms of patients arrival) during 2009 against the previous year (2008). The report also discusses the emerging Cruise tourism industry that will raise the number of tourists in the coming period.

In addition, there are a lot of investments being made for the development of hotel and tourism industry. The country’s tourism industry accounted for 44.7% of the total FDI during January-November 2009. Moreover, major international players in the hospitality sector have also set up their base in the country.