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Vietnam Tourism Report Q3 2010
Business Monitor International, July 2010, Pages: 53
Vietnam Tourism Report provides industry professionals and strategists, corporate analysts, tourism associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Vietnam's tourism industry.
Positive Start To 2010
Figures released by the Vietnam National Administration of Tourism (VNAT) in May 2010 show that tourist arrivals continued to rise in the first four months of 2010. Total arrivals in January-April came to 1.78mn, representing 35.0% year-on-year (y-o-y) growth. This momentum appears to be lasting, with arrivals in April growing by 31.3% y-o-y.
This level of growth is particularly encouraging since overall arrivals in 2009 fell by 10.9% y-o-y. As such, Vietnam is enjoying one of the strongest recoveries in the region. Apart from the resilience of the domestic tourism industry, Vietnam could also be benefiting from the political turmoil in nearby Thailand, which may be encouraging visitors to go to Vietnam instead. Regional tourism has picked up strongly, with Chinese arrivals to Vietnam growing by 95.1% y-o-y in April. South Korean and Cambodian arrivals also posted strong increases, of 37.8% and 98.1% respectively. Arrivals from Western markets did not post such strong growth, reflecting the early stages of economic recovery. Arrivals from the US grew by 3.8% in April and those from France grew by 9.8%.
Accor Plans Vietnam Expansion
In a sign of increased confidence in the Vietnamese tourism industry, French hotel chain Accor announced plans in March 2010 for a significant expansion of its presence in Vietnam. The company operates 13 hotels (2,147 rooms) in Vietnam and is looking to almost double this number. By late 2012, Accor plans to have 10 more hotels under various brands: two Ibis hotels in Ho Chi Minh City, three Novotels, three Pullmans and two Mercures. As part of this expansion, Accor will open its first Pullman hotel in Vietnam in late 2010, the Pullman Vung Tau.
Jetstar Teams Up With AirAsia
In January 2010, Asian low-cost airlines Jetstar and AirAsia announced plans to form a non-equity partnership. Both carriers operate throughout Asia and were beginning to come into competition on key routes, such as Singapore-Kuala Lumpur. However, this may not necessarily relieve pressure on Jetstar’s Vietnam-based operation Jetstar Pacific, which is 27% owned by Qantas. In February 2010 AirAsia bought a 30% stake in VietJet Air, another of Vietnam’s low-cost operators, which suggests that the competition between Jetstar and AirAsia will continue. Jetstar Pacific has a 23% share of the Vietnamese market, with VietJet Air holding around 7%.
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