Vietnam Travel & Tourism Market: Key Drivers, Challenges, and Growth Prospects

According to TechSci Research report, “Vietnam Travel & Tourism Market – By Region, Competition, Forecast & Opportunities, 2030F”, the Vietnam Travel & Tourism Market stood at USD 17.90 billion in 2024 and is projected to reach USD 42.01 billion by 2030, growing at an impressive CAGR of 15.34% during the forecast period.

Vietnam’s tourism sector has emerged as one of the most dynamic and rapidly expanding industries in Southeast Asia. Over the past decade, the country has experienced a surge in both international and domestic travelers, supported by government initiatives, rising incomes, improved infrastructure, and the growing popularity of Vietnam as a diverse and affordable travel destination. With its rich cultural heritage, pristine beaches, vibrant cities, and unique culinary traditions, Vietnam continues to enchant millions of visitors each year.

The nation’s transformation from an emerging tourist spot to a major global destination represents a remarkable success story—driven by innovation, sustainability, and a growing commitment to enhancing traveler experiences.

Industry Key Highlights

• Market Size (2024): USD 17.90 Billion

• Projected Market Size (2030): USD 42.01 Billion

• CAGR (2024–2030): 15.34%

• Fastest-Growing Segment: Outbound Tourism

• Leading Region: Southern Vietnam (Ho Chi Minh City, Phu Quoc, Vung Tau)

• Key Drivers: Infrastructure development, digital transformation, rising disposable incomes, and government-led tourism promotion

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Evolving Travel Landscape in Vietnam

Vietnam’s journey as a global travel hub has been marked by its ability to balance tradition with modernity. The country’s tourism offering appeals to a diverse range of travelers—from adventure enthusiasts exploring Sapa’s terraced fields to luxury travelers enjoying the serenity of Phu Quoc’s resorts.

International tourist arrivals have surged in recent years, with visitors from China, South Korea, Japan, and Europe forming a large share of inbound travelers. Iconic destinations like Ha Long Bay, Hoi An Ancient Town, and the Mekong Delta continue to attract international recognition. Moreover, Vietnam’s reputation for affordability and high-quality hospitality services positions it as an attractive destination for both budget and luxury travelers.

At the same time, domestic tourism has witnessed significant growth. The rise in disposable income, growing middle class, and affordable travel packages have encouraged Vietnamese residents to explore their own country. Destinations like Da Nang, Nha Trang, Sapa, and Ha Giang are becoming popular weekend getaways, contributing to local economies and diversifying tourism development beyond major cities.

Market Drivers

1. Government Initiatives and Tourism Promotion

The Vietnamese government has implemented a series of strategic policies aimed at strengthening the tourism industry. Visa exemptions for key markets, simplified e-visa procedures, and promotional collaborations with international tourism boards have enhanced the country’s global visibility. Campaigns such as “Vietnam – Timeless Charm” and sustainable tourism programs have positioned the country as both culturally rich and environmentally responsible.

2. Rising Disposable Incomes and Expanding Middle Class

Vietnam’s rapid economic growth has increased purchasing power, particularly among younger populations and urban households. With more discretionary income, people are traveling more frequently for leisure, business, and cultural exploration. This economic empowerment is driving both domestic and outbound tourism, fueling the demand for quality travel experiences.

3. Infrastructure Development and Connectivity

Massive investments in transportation and infrastructure have made travel across Vietnam easier and more efficient. New airports, expanded highways, and modernized railway networks are connecting remote areas to major tourist circuits. Cities like Hanoi, Ho Chi Minh City, and Da Nang are witnessing significant growth in hospitality, entertainment, and retail infrastructure, providing world-class experiences to both domestic and international visitors.

4. Growth of Digital Travel Ecosystem

Vietnam’s digital revolution has redefined how travelers plan and book their trips. Online travel agencies (OTAs), mobile apps, and digital marketing have simplified travel planning, from flight reservations to accommodation bookings. The convenience of mobile payments, digital tour guides, and personalized recommendations through AI-driven platforms is reshaping traveler behavior.

5. Diverse Tourism Offerings

Vietnam’s tourism sector is diversified across multiple segments—beach tourism, adventure tourism, eco-tourism, medical tourism, and cultural heritage travel. This variety allows the industry to appeal to different traveler demographics and mitigate risks from seasonal fluctuations or external shocks.

Emerging Trends in the Vietnam Travel & Tourism Market

1. Rise of Sustainable and Eco-Tourism

Environmental awareness is shaping Vietnam’s tourism future. Eco-friendly accommodations, community-based tourism, and responsible travel initiatives are gaining popularity. National parks like Phong Nha-Ke Bang and eco-destinations such as Pu Luong are witnessing increased interest among travelers seeking sustainable experiences. Local communities are also benefiting from responsible tourism through cultural preservation and rural employment opportunities.

2. Digital Transformation and Smart Tourism

The integration of digital technologies into the tourism value chain is one of the most transformative trends. Smart tourism applications, virtual tours, and contactless services have improved convenience and efficiency. From AI-driven itinerary planning to IoT-based hotel management systems, Vietnam’s tourism industry is embracing innovation to enhance customer satisfaction.

3. Growth of Outbound Tourism

The outbound tourism segment is rapidly expanding as more Vietnamese travelers seek international experiences. Popular destinations include Thailand, South Korea, Japan, Singapore, and France, supported by competitive airfare and flexible travel packages. This segment’s growth is also driven by easier visa processes and digital booking platforms, enabling travelers to plan global trips with convenience.

4. Health and Wellness Tourism

Post-pandemic recovery has led to growing demand for wellness retreats and health-oriented travel. Resorts offering spa treatments, yoga retreats, and detox programs are flourishing in coastal regions and mountainous areas. The trend reflects a broader global shift toward holistic well-being and self-care.

5. Cultural and Experiential Travel

Travelers are increasingly seeking authentic cultural experiences—learning local crafts, participating in village homestays, or attending festivals like Tet Nguyen Dan (Lunar New Year). This shift from passive sightseeing to immersive cultural engagement is creating opportunities for tour operators and local artisans alike.

6. Luxury and Bleisure Travel (Business + Leisure)

Vietnam is witnessing a rise in luxury travel and “bleisure” tourism, where business trips are extended for leisure purposes. The development of five-star resorts, high-end cruise services, and world-class MICE (Meetings, Incentives, Conferences, Exhibitions) facilities is attracting global corporate travelers.

Competitive Analysis

The Vietnam Travel & Tourism Market features a mix of local travel agencies, international operators, and online platforms, all competing to capture a growing and digitally savvy consumer base.

Major Companies Operating in the Market:

• Viet Vision Travel & Trading JSC

• Lily’s Travel Agency

• Hello Vietnam Travel

• Vietnam Amazing Tours

• Deluxe Vietnam Tours Co., Ltd.

• Get Up and Go Vietnam

• Vietnam Escape Tours

• Threeland Travel

• Vietnam Adventure Tour

• Phu Quoc Island Explorer

Competitive Landscape Overview

• Viet Vision Travel & Trading JSC and Hello Vietnam Travel have established strong reputations through customized travel packages and extensive domestic coverage.

• Deluxe Vietnam Tours and Vietnam Amazing Tours focus on premium travel experiences, targeting inbound tourists with luxury itineraries and curated experiences.

• Threeland Travel and Get Up and Go Vietnam leverage digital platforms to reach international travelers, offering flexible, customer-centric solutions.

• Phu Quoc Island Explorer dominates the island and coastal tourism market, benefiting from increased resort development and eco-tourism investments.

These companies are continuously innovating with AI-based travel recommendations, eco-tourism integration, and partnerships with global OTAs to capture the growing share of digital-first travelers.

Regional Insights

The Southern region—anchored by Ho Chi Minh City, Phu Quoc, and Vung Tau—is the fastest-growing area in Vietnam’s tourism landscape. This region benefits from advanced infrastructure, dynamic hospitality development, and strong government support for tourism-related projects.

Ho Chi Minh City serves as the primary international gateway, offering a mix of historical landmarks, nightlife, shopping, and cultural diversity. Phu Quoc, on the other hand, has evolved into a world-class resort destination, attracting luxury travelers from across the globe.

The Northern region, including Hanoi and Ha Long Bay, remains a top choice for cultural and heritage tourism, while the Central region, led by Da Nang and Hoi An, offers a balance between relaxation and exploration.

Future Outlook

The future of Vietnam’s travel and tourism market appears exceptionally bright. By 2030, Vietnam is expected to solidify its position as a leading tourism hub in Asia. Continued investments in airports, smart cities, and digital infrastructure will enhance accessibility and service efficiency.

The government’s emphasis on sustainable tourism, coupled with its goal to attract 50 million international visitors by 2030, will create unprecedented opportunities for hospitality providers, tour operators, and investors.

Furthermore, collaborations between public and private sectors will strengthen the nation’s global tourism brand. Initiatives like the Vietnam Tourism Development Strategy 2030 are set to guide long-term growth by focusing on diversification, cultural preservation, and green tourism.

The integration of technology—through AI-based services, blockchain-enabled travel data, and digital payment ecosystems—will continue to redefine how travelers experience Vietnam. As the global travel sector embraces resilience and adaptability, Vietnam is poised to become a model of innovation and sustainable development.

10 Benefits of the Research Report

1. Provides detailed market size, segmentation, and growth forecasts through 2030.

2. Offers comprehensive insights into consumer behavior and travel trends.

3. Analyzes the impact of government initiatives and infrastructure investments.

4. Identifies high-potential regions and emerging tourism segments.

5. Examines competitive dynamics among domestic and international market players.

6. Evaluates digital transformation trends reshaping the travel ecosystem.

7. Highlights investment opportunities in hospitality, aviation, and leisure services.

8. Provides strategic recommendations for market entry and expansion.

9. Supports data-driven decision-making for investors and tourism stakeholders.

10. Enables benchmarking of performance and growth strategies across industry players.

The Vietnam Travel & Tourism Market is entering an era of unprecedented opportunity and transformation. As one of Asia’s most promising travel destinations, Vietnam combines natural beauty, cultural authenticity, and economic vibrancy to create a truly global appeal.

The convergence of rising incomes, digital innovation, sustainable tourism, and governmental support is setting the stage for exponential growth. The expansion of luxury resorts, the emergence of eco-tourism, and the rise of outbound travel are diversifying Vietnam’s tourism portfolio.

By 2030, Vietnam’s tourism industry is expected to not only strengthen its domestic footprint but also position itself as a leader in regional and global travel markets. The country’s vision for sustainable, inclusive, and tech-enabled tourism ensures that the next decade will be marked by innovation, responsible growth, and unforgettable experiences for travelers worldwide.

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