Vietnam Tourism Report Q2 2011
Business Monitor International, March 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.
Tourism Surges In 2010
Figures released by the Vietnam National Administration of Tourism (VNAT) in January 2011 showed that the country experienced a stellar 2010. Foreign arrivals grew by an impressive 40% year-on-year (yo-y) over 2009, with the total number of visitors standing at 5.16mn. This made Vietnam the best performing market in the region, which is particularly impressive given that it has traditionally lagged regional market leaders India and Thailand.
The country’s 2010 performance marked a strong rebound from 2009, when arrivals slumped by 13.7% yo-y. Vietnam benefited from strong regional growth, with arrivals from Asia Pacific growing by 7.74% yo-y in 2010. This suggests that Vietnam has become well established as a regional tourist location, potentially attracting visitors who may be unwilling to go to the larger tourist markets. We expect Vietnam’s performance to remain strong, with a 2011 arrivals forecast of 5.58mn.
Tourism Designated As Key Sector
The Vietnamese government formally designated tourism as an ‘economic spearhead’ in February 2011, meaning that it is now viewed as a key strategic sector. This reflects the growing importance of tourism to the country and particularly its strong rebound following the economic slowdown. Accordingly, the government is now aiming to boost the sector’s economic contribution to 4.5% of GDP in 2011. To this end, the authorities will look to boost programmes to enhance the sector, particular for sea and ecotourism, which remain relatively underdeveloped compared to the sector as a whole. This new designation should benefit the tourism sector as it will now represent a greater priority for the government and should result in more long-term planning and investment for the tourism industry.
Government Vetoes New Airline
The Vietnamese government in January vetoed a proposed new airline serving business travellers. National carrier Vietnam Airlines had proposed launching the new airline, to be called VNJet, as part of a joint venture with Hanoi Import Export Joint Stock Company and financial group An Binh. The new carrier had hoped to attract business passengers, but the government said that it would prefer Vietnam Airlines to focus all its attention on its current operations. The establishment of VNJet has not been ruled out altogether, but the government noted that it should form part of Vietnam Airlines’ efforts to establish VietAir, a joint stock company.
Executive Summary
SWOT Analysis
Vietnam Tourism SWOT
Vietnam Political SWOT
Vietnam Economic SWOT
Vietnam Business Environment SWOT
Industry Forecast Scenario
Arrivals
Table: Arrivals Data, 2007-2015 (‘000)
Expenditure
Table: Tourist Expenditure And Economic Impact, 2007-2015
Inbound Tourism
Table: Tourists Arrivals By Region, 2007-2015
Table: Tourist Arrivals By Country, 2007-2015 (‘000)
Outbound Tourism
Table: Outbound Tourism Data, 2007-2015
Table: Resident Departures By Country, 2007-2015 (‘000)
Market Overview – Travel
Commercial Airlines
Low-Cost Airlines
Global Oil Products Price Outlook
Table: Oil Product Price Assumptions, Q410-Q411 (US$/bbl)
Table: Oil Product Price Data And Forecasts, 2008-2015 (US$/bbl)
Market Overview – Hospitality
Accommodation
Regional Case Study: InterContinental Hotels Group (Asia Pacific)
Gaming
Infrastructure
Cruises
H1N1 And H5N1 Update
Business Environment Outlook
Table: Asia Travel And Tourism Business Environment Ratings
BMI’s Security Ratings
Table: Asia Pacific Regional Security Ratings
Table: Asia Pacific State Vulnerability To Terrorism Index
Vietnam’s Security Risk Ratings
City Terrorism Ratings
Table: BMI’s Asia City Terrorism Index
South East Asia Security Overview
Global Assumptions, Q211
Table: Global Assumptions, 2009-2015
Table: Regional Real GDP Growth, 2010-2013 (% change y-o-y)
Table: Selected Exchange Rates, 2010-2013 (average)
Developed States
Table: Developed States’ GDP Growth, 2010-2013 (% change y-o-y)
Emerging Markets
Table: Emerging Markets’ GDP Growth, 2010-2013 (% change y-o-y)
Consensus Forecasts
Table: Consensus Forecasts, 2011 And 2012
Company Profiles
Huong Giang Tourist Company
Saigontourist
Vietnam Airlines
BMI Methodology
How We Generate Our Industry Forecasts
Tourism Industry
Tourism Ratings – Methodology
Table: Tourism Business Environment Indicators
Table: Weighting Of Components
City Terrorism Ratings
Table: City Terrorism Rating Methodology
Sources
- Huong Giang Tourist Company
- Saigontourist
- Vietnam Airlines
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