Friday, June 28, 2024 Vietnam’s tourism industry is poised for a robust recovery this year, significantly contributing to the country’s economic growth. In 2024, the number of international tourists visiting Vietnam is anticipated to rise by 40%, following a dramatic increase of nearly 250% in the previous year. This surge is largely fueled by the resurgence of outbound Chinese tourism, a vital component of the sector.
Previously accounting for approximately 8% of Vietnam’s GDP—compared to Thailand’s 12%—the tourism industry is on track to add more than one percentage point to Vietnam’s GDP growth this year. This follows a remarkable year where tourism alone boosted the GDP growth by over four percentage points. Despite the lingering impact of the pandemic on Chinese tourism across Asia, Vietnam has seen a 65% year-on-year increase in tourist numbers in the first five months of 2024, reaching levels slightly above those before Covid.
This rise occurred even though Chinese tourist numbers have not fully rebounded to their pre-2019 figures. In May, China regained its top position as a source of tourists to Vietnam for the first time since the pandemic began. The resurgence is not limited to Chinese visitors.
An “extraordinary desire” for travel among Americans is also expected to drive tourist numbers well above pre-Covid levels by more than 5% this year. However, domestic tourism, which represents 4% of the GDP and saw a complete recovery last year, is unlike.
