Delhi, Delhi India (PressExposure) July 09, 2007 -- Vietnam's Ho Chi Minh (HCM) City welcomed above one million foreign vacationers in the first five months of this year (i.e. the period between January 2007 and May 2007), showing an year on year increase of 10%, according to the municipal tourism dept of Vietnam.
Around 0.175 Million tourists from across the globe flocked to the city during the month of May '07 alone, an increase of 10.9% over the same period last year. Visitors from the Republic of Korea, US, Japan, and Australia accounted for most part of the tourist influx in the city. Over the past few years, number of foreigners visiting HCM City has increased 18% per year. The number of foreign visitors to the city was around two million in 2005, and around 1.15 Million in the first half of 2006, representing a 16% growth over the same period in previous year (2005).
Plenty of natural resources, 1,400 miles vast tropical coastline, and several attractive sites open for long-term lease are the major attractions supporting the tourism industry in Vietnam. The country is heading towards modernization of all kinds of infrastructure, from power supplies and roads to telecommunications and port facilities. And in spite of the regulatory and economic reform in a continuously evolving business environment, foreign investors need to navigate a complex bureaucratic maze.
As per a recent report on "Opportunities in Vietnam Tourism Industry (2007-2009)", "Vietnam is one of the most attractive tourist destinations in Asia where tourist arrival rate is highest. Stable economic and political conditions, and various government initiatives make the country an attractive destination not only for tourists but also for the investors. Tourist arrival in Vietnam is expected to grow at a CAGR value of around 14% during 2007-2011."
The report looks into the details of tourism industry in Vietnam. Key issues and facts analyzed in the report include: performance of global tourism, Asia-Pacific tourism and ASEAN tourism industry, position of Vietnam tourism industry with respect to the ASEAN tourism industry, outbound tourism, domestic tourism, and expenditure by inbound tourist, and so on.
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