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Vietnam Tourism Report Q2 2016

Vietnam Tourism Report Q2 2016

BMI View: Tourism is a growing industry in Vietnam and the sector has experienced some growing painsin recent years. Poor service standards and uncertainty surrounding visa and investment regulations havecontributed to slowing growth rates and for much of 2015 international arrivals figures fell. We do expectto see a recovery in 2016 as Vietnam continues to invest in improving accommodation options andstandards and becomes more accessible for visitors from outside of the Asia Pacific region. Investment intransport infrastructure, particularly air travel, will also provide a supportive boost to the travel industry.

As such we are forecasting growth across all key market indicators over through to 2020.

Key Updates And Forecasts:

Following a contraction in 2015, we are forecasting a return to growth in Vietnam's inbound tourismmarket in 2016 and expect government targets of 8.5mn international arrivals to be largely achievable.

Extensive marketing and service improvement campaigns and an expansion in regional and global airconnectivity will support further growth in inbound tourism throughout the remainder of the forecastperiod to 2020.

Vietnam presents an increasingly attractive investment destination and the hotel sector is expanding, bothin established destinations and in up and coming tourism areas. Major hotel groups such as Accor andStarwood have several new hotels due to open over the course of the forecast period.

Regional markets such as China, Japan and South Korea continue to account for the vast majority ofarrivals to Vietnam. Visitor figures have fluctuated over recent months, impact both by economic trendsand regional political tensions, highlighting Vietnam's vulnerability to a decline in regional travel and theimportance of diversifying source markets over the long term.


BMI Industry View
Table: Key Forecasts (Vietnam 2013-2020)
SWOT
Tourism
Industry Forecast
Table: Inbound Tourism (Vietnam 2013-2020)
Table: Tourism Receipts (Vietnam 2013-2020)
Table: Hotel Accommodation (Vietnam 2013-2020)
Table: Tourist Departures and Consumption (Vietnam 2013-2020)
Industry Risk/Reward Index
Tourism Risk/Reward Index
Table: Asia Pacific Tourism Risk/Reward Index
Rewards
Risks
Security Risk
Market Overview
Competitive Landscape
Domestic Hotel Groups
Table: Domestic Hotel Groups
International Hotel Groups
Table: International Hotel Groups
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Weighting Of Indicators

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