Vietnam Tourism Report Q4 2011
Business Monitor International, September 2011, Pages: 61
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 Momentum Continues In First Seven Months
Figures released by the Vietnam National Administration of Tourism (VNAT) in August showed that Vietnam's tourism industry has continued to boom in 2011, after very positive Q1 figures. In the first seven months of the year, tourist arrivals totalled 3.4mn, a year-on-year (y-o-y) increase of 17.3%. Arrivals in July totalled 460,000, up by 12.2% y-o-y. This does not reflect a slowing of momentum, rather the traditional mid-year seasonal dip in arrivals before the high season begins after the rainy season.
Vietnam's tourism industry, although small compared to regional giants such as Thailand, achieved strong growth even during the 2008-2009 economic downturn, reflecting growing interest from the government in promoting the sector. In particular, investment in infrastructure has made it easier for independent travellers to visit Vietnam, encouraging the boom. Although the deteriorating economic environment may start to weigh on arrivals towards the end of the year, BMI remains positive about Vietnam's prospects and retain its 2011 arrivals target of 5.4mn.
Hotel Rates Pick Up As Arrivals Boom
A survey by chartered accountants Grant Thornton in June 2011 indicated that the hotel industry is beginning to reap the benefits of the strong upturn in tourist arrivals in 2010 and 2011. The survey, which looked at mid-to-high range hotels, found that room rates increased by an average of 6.8% y-o-y in 2010. This was particularly impressive given that hotels in other countries were still struggling to recover from the downturn and offered discounted rates. Occupancy rates rose by 5.3% and 5.0% for four and five-star hotels respectively, suggesting that the investment in high-end hotels is beginning to pay off. With tourist arrivals remaining strong in 2011, rates are likely to continue rising into 2012, increasing the sector's attractiveness for investors.
Government Announces 10-Year Tourism Investment Plan
The government is keen to expand the tourism industry, building on the rapid growth achieved in 2010. In August 2011, the government announced a 10-year investment plan for the sector. Investment will total US$42.5bn, a considerable scaling up of state support for the industry. This follows the decision by the government in February to designate tourism as an ‘economic spearhead', which means it is viewed as a strategic sector of the economy. The emphasis of the new plan is on improving infrastructure, particularly road networks and airport facilities. In early 2011, the VNAT stated there were 625 tourism projects in development in the country.
Executive Summary
SWOT Analysis
Vietnam Tourism SWOT
Vietnam Political SWOT
Vietnam Economic SWOT
Vietnam Business Environment SWOT
Industry Forecast Scenario
Arrivals
Table: Arrivals Data, 2007-2015 (‘000)
Expenditure
Table: Tourist Expenditure And Economic Impact, 2007-2015
Inbound Tourism
Table: Tourists Arrivals By Region, 2007-2015
Table: Tourist Arrivals By Country, 2007-2015 (‘000)
Outbound Tourism
Table: Outbound Tourism Data, 2007-2015
Table: Departures By Country, 2007-2015 (‘000)
Market Overview – Travel
Commercial Airlines
Low-Cost Airlines
Global Oil Products Price Outlook
Table: Oil Product Price Assumptions, 2011 (US$/bbl)
Table: Oil Product Price Forecasts, 2011-2015 (US$/bbl)
Market Overview – Hospitality
Accommodation
Regional Case Study: InterContinental Hotels Group (Asia Pacific)
Gaming
Infrastructure
Cruises
H1N1 And H5N1 Virus 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 Asia Pacific City Terrorism Index
South East Asia Security Overview
Global Assumptions
Table: Global Assumptions, 2009-2015
Table: Global And Regional Real GDP Growth, 2010-2013 (% change y-o-y)
Table: Developed Market Exchange Rates, 2010-2013 (average)
Table: Emerging Market Exchange Rates, 2010-2013 (average)
Developed States
Table: Developed States Real GDP Growth, 2010-2013 (% change y-o-y)
Emerging Markets
Table: Emerging Markets Real GDP Growth Forecasts, 2010-2013 (% change y-o-y)
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 Ratings Methodology
Sources
- Huong Giang Tourist Company
- Saigontourist
- Vietnam Airlines
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