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Asia: Vietnam’s Tourism Sector - Opportunities for Investors in 2020

Updated: Dec 30, 2019

Contributing over six percent to Vietnam’s GDP every year, tourism is one of the most important driving forces for Vietnam’s economic development, according to an article from Asia Briefing. Taking note of this, in 2011, the government released the “Strategy on Vietnam’s tourism development until 2020, vision to 2030” to provide guidelines for cities and provinces to promote their tourism industry.

As part of the strategy, Vietnam aims to attract 17 to 20 million international visitors in 2020. As of November 2019, Vietnam welcomed 16.3 million international travelers, a 15.4 percent year-on-year (YoY) increase.

Each region’s specific action plan and emerging trend in the industry can help to push the growth even further.

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