Vietnam and the Mekong: A Multi-Billion Dollar Market for Outbound, Incentive and Medical Tourism

According to a research by the World Travel and Tourism Council, the total spending abroad on international travel by the Vietnamese in 2011 is at US$ 3.3 billion, and rose to US$ 3.5 billion in 2012 (according to the Vietnam Tourism Association accounted from foreign tourism promotion agencies). Outbound travel spending is expected to grow by 6.4% per annum until 2022. The first half of 2013 has seen a 20% growth in outbound travel from the Vietnamese, with more tourists preferring long-haul tours to Australia, Canada, Europe, the Middle East and the US. This growth has been consistent over the past five years, making Vietnam one of the prime source markets for many countries. Preferred Asian destinations that are increasingly receiving more and more Vietnamese tourists are Cambodia, Hong Kong, Indonesia, Japan, Laos, Malaysia, Myanmar, Philippines, South Korea, Taiwan and Thailand. Dubai, Egypt, India and Turkey including Russia and parts of Central Asia are also gaining more popularity among the locals. The Middle East and Europe greatly benefits from this outbound surge. “Tours to Dubai and Europe are selling well and outbound had been spared by the tough economic circumstances in the past two years”, Nguyen Viet Hung comments, General Director of Fiditourist. This increasing demand brings high revenue growth for travel firms. “We have arranged 10 groups of long-haul and 20 groups of short-haul trips monthly. Our company’s outbound business inched up 20% this year”, says Mr. Nguyen Tha Khai, Director of Perfect Tour Travel. One of the major travel operators in the country, Saigontourist, that have seen over 10% yearly growths for outbound supports this. “We had around 22,000 clients traveling abroad in the year’s first half, around 30% of which took long-haul,” Doan Thi Thanh Tra adds, Marketing Manager of Saigontourist. Group Incentives and Business Travel is also at a record high. The Vietnamese spent billions of Vietnamese dong buying outbound trips for their business partners and customers. These corporate clients are primarily from the pharmaceutical, insurance and oil sectors. When it comes to Medical Tourism, the Vietnamese are currently spending around US$ 1 billion per annum for healthcare treatment in Singapore. The number of Vietnamese patients who visit Thailand, South Korea and other countries for medical treatment is also high, according to the Ministry of Health.   **International and regional buyers and sellers generated over US$ 7 million in new business during ITE HCMC 2012, which is now proven to be the best trade platform catering to this multi-billion dollar market. The 9th ITE HCMC 2013 expanded its exhibition floor space by 50% to accommodate an ever increasing demand of companies wanting to penetrate and maintain their market share. Over 85% exhibition space has been sold, limited space available Click Here to Book Now!