The Hanoitimes - Total spending of international visitors in Vietnam recorded over US$10 billion for the first time in 2018 and is increasingly growing.
The significant role of service exports in Vietnamese tourism industry is not only proven in the revenue gained from overseas travelers but also in overall socio-economic development. It is also considered a direct, lively and effective way to promote the country’s image abroad, the Government Portal reported.
First, service exports help foreigners acknowledge that the war-torn Vietnam in the past has become a peaceful and stable country, and a middle-income economy in the world over the last ten years.
Secondly, Vietnam is famous for its landscapes, long-standing historical and cultural heritages nationwide that attract many tourists.
Thirdly, Vietnamese people are sincere, welcoming and willing to help foreigners.
Fourthly, the country has an undeniably amazing culinary culture with many specialties.
Fifthly, affordability has been one of Vietnam’s attractiveness for foreign travelers as the prices are much cheaper compared to other countries due to the weak the Vietnamese dong against the US (US$1 sells for around VND23,300).
Source: General Statistics Office
Total spending of international visitors in Vietnam recorded over US$10 billion for the first time in 2018 and is increasingly growing, which in turn, contributes a significant amount of foreign currency to improve the balance of payments, foreign exchange reserves, foreign exchange rate stabilization and inflation control, among others, according to the government’s targets.
Inbound tourism has brought about several opportunities for the country to expand its investment and trade relationships as well as creating millions of job opportunities for the locals.
Tourism also contributes to the economic structure shifting in terms of labors, capital, business lines, and services.
According to data from the General Statistic Office of Vietnam, the number of foreign holidaymakers to Vietnam in the first seven months of 2019 is estimated at 9.8 million, up 7.9% year-on-year.
To make tourism the country’s economic spearhead, experts suggest Vietnam focus on planning tourism hotspots and promoting tourism products, enhancing laborers’ capabilities especially in foreign languages, enhancing value connectivity among localities, improving tourism management, upgrading infrastructure and protecting cultural heritage and environment.