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Vietnam Tourism Report Q1 2011
Business Monitor International, Jan 2011, Pages: 60
The 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.
On Course for Impressive 2010 Results
Figures released by the Vietnam National Administration of Tourism (VNAT) in October 2010 show that the country is continuing to recover strongly from the slowdown in 2008-2009. In the first 10 months of the year, visitor arrivals increased by 39.0% year-on-year (y-o-y), bringing the total number of visitors to 4.27mn. The performance in October was particularly strong, with arrivals growing by 99.3% y-o-y to 440,071.
Vietnam’s performance is highly impressive, especially in comparison to other regional destinations such as Thailand and India. Although these are recovering, Vietnam’s rate of tourism growth is far stronger, making it the best performing country in the region. Interestingly, arrivals by road showed the greatest level of growth in the first 10 months of 2010, growing by 46.9% y-o-y, compared to air arrivals (38.9%) and sea, which actually declined. This suggests that Vietnam is benefiting from a growing level of regional tourism, as well as inclusion on multi-country tours. As such, BMI remains highly confident about Vietnam’s prospects in 2011, with arrivals set to maintain strong growth, if moderating slightly from the 2010 rebound figures.
Vietnam to Host 2016 Asia Beach Games
Vietnam has won the bidding to host the fifth Asia Beach Games in 2016. The games will be held in Nha Trang, the capital of Khanh Hoa province in south-central Vietnam. This event is held every two years and overseen by the Olympic Council of Asia. Holding the games is an opportunity for the host country to publicise itself to a wider audience. This is particularly the case for Nha Trang, which has a number of Vietnam’s finest beaches. The province will likely invest in infrastructure and tourism development in the run-up to 2016, enhancing its long-term tourism potential.
Hotel Demand Shifts During Recovery
A survey by chartered accountants Grant Thornton confirmed that the hotel industry suffered during the 2009 downturn, with average high-end room rates falling by 31.9% y-o-y, although three-star hotels experienced a 2% increase as more visitors moved towards the cheaper end of the market. However, the startling rebound in tourism arrivals in 2010 has led to the hotel industry recovering sharply, with occupancy rates rising by approximately 20% in the first three quarters of last year. This does not appear to have been met with a rise in room rates as yet, as many hotels are keeping rates low in order to encourage competitiveness. However, if tourist arrivals continue to rise, pressure on room availability will lead to a slow recovery in prices.
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