Delhi, Delhi India (PressExposure) October 01, 2007 -- Vietnam, a Southeast Asian country, received over 3.5 Million international tourists in 2006, a straight growth of more than 3% over 2005. Also, it recorded an impressive CAGR growth of over 8.9% from 2001 to 2006, according to a recent report "Opportunities in Vietnam Tourism Industry (2007-2009)" by RNCOS.
The tourist influx increased at unprecedented rate in Vietnam in the first half of 2007 - Ho Chi Minh City alone received about 1.26 Million international tourists, a YOY growth of over 11% and over 655,000 holidaymakers explored the colonial setting of Hanoi, posting a hike of around 14%. So it can be inferred that the country is well positioned to meet its target of serving around 4 to 4.4 Million international trippers this year.
The substantial growth was credited to the business delegations coming to the country and demitting of visa for RoK nationals by the Vietnam government. The other reasons that lured tourists were Vietnam's natural and cultural heritage, low cost of living, and starting of direct flights from San Francisco to Ho Chi Minh City by UA (United Airlines) that pushed the tourist arrival from US. The cooperation between Vietnam Airlines and US helped to attract over 200,000 tourists from US to Vietnam, translating into a YOY growth rate of over 5%.
As far as the country by the highest tourist arrival is concerned, China remains at the top, due to its geographical closeness with Vietnam and a varied traffic system connecting the two nations, making the entry of Chinese tourists easier.
The RNCOS report "Opportunities in Vietnam Tourism Industry (2007-2009)" says that based on the current policy environment and market scenario, the tourist arrival in Vietnam is expected to hit a CAGR value of around 14% from 2007 to 2011. The growth attained by departures and arrivals is principally because of heightened travel confidence and strong economic condition as the country's GDP for the forecasted period is anticipated at around 7%.
The market research gives a detailed overview of Vietnam tourism industry, covering inbound and outbound tourism, expenditure statistics, transportation, market driving factors, opportunities and challenges for the market. It also augurs the forecast of the market based on the current market scenario.