Vietnam goal of 18 mln foreign visitors in 2024 feasible: RMIT expert
Vietnam’s goal of welcoming 17-18 million foreign tourist arrivals in 2024 seems highly feasible with sustained efforts, diversification, and accessible visa policies, according to RMIT senior program manager for tourism and hospitality management Jackie Ong.
Tourism in Vietnam has experienced remarkable growth since 2022. Last year, international tourist arrivals reached an impressive 12.6 million, a 3.5-fold year-on-year increase, surpassing the original target of 8 million.
More recently, Vietnam welcomed more than 4.6 million foreign tourist arrivals in the first quarter of 2024, up 72% year-on-year and 3.2% higher than the pre-pandemic 2019 figure.
RMIT's Ong stressed that to ensure growth beyond 2024, it is crucial to recognise tourism as an integrated economic sector. Collaborative efforts among relevant authorities, communities, and tourism-related businesses are pivotal to portraying an enticing image of Vietnam.

A foreign guest enjoys a dance in Nha Trang city, Khanh Hoa province, south central Vietnam. Photo courtesy of Khanh Hoa newspaper.
Ong observed that recent marketing strategies, product orientation, and open visa policies have effectively complemented the rich natural and cultural resources that Vietnam has to offer, with tourism products now extending to river tourism, gastronomy tourism, rural tourism, wellness tourism, and festival tourism.
Meetings, incentives, conferences, and exhibitions (MICE) tourism is also gaining traction thanks to Vietnam's increasing popularity as a business and leisure destination, RMIT associate program manager for tourism and hospitality management Justin Matthew Pang pointed out.
Vietnam's MICE industry is estimated to see a compound annual growth rate of 5% for the next five years. This is positive news as MICE tourism can provide significant economic stimulation by attracting business travellers who spend on local accommodation, dining, and leisure activities. It also promotes destination visibility, often resulting in repeat visits.
“While Vietnam's MICE market has been dominated by travellers from China, South Korea, and Japan, looking further afield, Vietnam should aim to become a MICE venue of choice for South Asian countries like India, Pakistan, and Sri Lanka. These countries currently have strong market growth, coupled with high aspirations to do well economically,” Pang said.
Vietnam also stands to benefit from targeting niche markets with high spending powers, such as the super-wealthy from India who choose Vietnam for their destination weddings. This past year, Vietnam has hosted extravagant Indian weddings in Ha Long city, Danang city, and Phu Quoc island.
RMIT lecturer Daisy Kanagasapapathy said that with its stunning natural beauty, warm hospitality, and world-class hotels, Vietnam is slowly gaining attention as a go-to destination for ultra-high-net-worth couples looking to tie the knot uniquely and memorably. Weddings inject significant revenue into local economies through expenditures on venues, accommodation, catering, and entertainment, all while fostering cross-cultural understanding by showcasing traditional customs and ceremonies.
Perhaps the most discussed boost to inbound tourism in the past year has been Vietnam’s new visa policy. Previously, the country only issued 30-day single-entry electronic visas to citizens from 80 countries. Since 15 August 2023, e-visas can be granted to citizens of all countries for multiple entries for 90 days.
RMIT senior lecturer Nuno F. Ribeiro advocates for expanding visa exemptions as the next essential step. With neighbouring countries like Thailand and Malaysia relaxing their visa requirements, Vietnam can benefit by following suit and attracting tourists who visit multiple Southeast Asian countries. Vietnam should consider waiving visas for countries with a higher level of development, large tourism spending, and potential for long-term stays. These include Australia, Canada, the U.S., and the remaining countries of the European Union.
The clock is ticking, and if Vietnam delays in expanding its visa exemption policies, it risks losing out on attracting tourists from major tourism markets, Ribeiro suggested.
Strategies for Vietnam's tourism
Jackie Ong proposed several other strategies that Vietnam's tourism industry could consider.
First, the industry can develop and promote a diverse range of tourist attractions beyond mainstream destinations, showcasing the country's cultural, natural, and historical richness.
Second, improvements in airport and public transport infrastructure are needed, and Vietnam should consider transportation hubs as a strategy for tourism growth. For instance, the efficiency and integration of train stations in Japan, the UK, France and Singapore are drivers to attract tourists.
Third, emphasising sustainable and responsible tourism practices has become paramount to preserving the environment and local culture. Improving waste management systems and providing training support for rural community-based tourism initiatives are critical.
Fourth, although numbers are a measurement of economic success, over-emphasis on numbers could result in negative impacts on the natural environment, society, and culture. Ensuring high-quality services and hospitality are important to creating positive experiences, especially in the high-end tourism sector. Moreover, developing human resources in the hospitality sector and promoting tourism and hospitality education is crucial.
Fifth, utilising digital platforms for effective marketing is essential to reaching a broader audience and adapting to changing travel trends.
Besides, maintaining a safe and secure environment for tourists is vital for encouraging first-time as well as repeat visits. A focus on managing crowds would enhance the overall tourist experience.
- Read More
Japanese retailer Aeon to build 2-hectare mall in Vietnam’s Mekong Delta
Retail giant Aeon will develop a 2-hectare mall in the Mekong Delta province of Tien Giang, with an estimated investment of VND1.16 trillion ($44.6 million).
Industries - Fri, May 30, 2025 | 4:44 pm GMT+7
76% of Vietnamese survey respondents say trade uncertainty encourages them to explore new opportunities: HSBC
Vietnamese businesses have experienced exponentially higher cost increases than the global average and are expecting additional short-term costs due to trade uncertainty. But many survey respondents (76%) think trade uncertainty has encouraged their business to evolve and explore new opportunities, write HSBC analysts.
Consulting - Fri, May 30, 2025 | 2:41 pm GMT+7
AgriS partners with IFC: Optimizing environmental and social management system, accelerating net zero 2035 goal
TTC AgriS (Thanh Thanh Cong-Bien Hoa JSC or AgriS) and International Finance Corporation (IFC) - a member of the World Bank Group - has signed an MoU to strengthen sustainable development governance in alignment with global standards.
Companies - Fri, May 30, 2025 | 2:30 pm GMT+7
Vietnam's stock market attractively priced: Finnish fund PYN Elite
Vietnam’s stock market is attractively priced, with a price-to-sales (P/S) ratio of 1.3, said Petri Deryng, portfolio manager at Finnish investment fund PYN Elite.
Finance - Fri, May 30, 2025 | 2:09 pm GMT+7
S Korea's SK Group eyes 3 LNG power projects in Vietnam: chairman
SK Group, South Korea’s second-largest chaebol, is exploring several LNG-fueled power projects in Vietnam, including three proposed to be included in the country's green growth project portfolio, said chairman Tae-Won Chey.
Energy - Fri, May 30, 2025 | 1:37 pm GMT+7
Vietnam's Hoa Phat Group to become Southeast Asia’s first producer of steel rails for high-speed railways
Hoa Phat Group, a top steelmaker in Vietnam, on Thursday signed an agreement with Germany’s SMS Group under which the latter will provide the former technology and production lines for manufacturing steel rails and shaped steel, with an annual capacity of 700,000 tons.
Companies - Fri, May 30, 2025 | 11:48 am GMT+7
Vietnamese firm lands first $1 mln order on Alibaba after 8-year struggle to export
After five months of operating a virtual storefront on Alibaba’s B2B e-commerce platform, Sukavina Co., Ltd., a Binh Duong province-based manufacturer of metal tables, chairs, and beds, secured its first international order, marking a significant milestone in the company’s eight-year journey to global markets.
Companies - Fri, May 30, 2025 | 9:00 am GMT+7
Vietnam's telco giant Viettel signs deal with France’s John Cockerill Defense
Viettel High Tech, the core military and civilian R&D arm of Vietnam’s military-run telecom giant Viettel, has signed a cooperation agreement with John Cockerill Defense, a leading weapon designer and manufacturer in France.
Companies - Thu, May 29, 2025 | 9:14 pm GMT+7
MB showcases comprehensive financial solution Biz MBBank at Digital Transformation Day event
Vietnam's leading bank MB on Thursday introduced its latest digital technology solutions, notably the Biz MBBank digital financial platform, at the "Smart Digital Ecosystem in the New Era" event organized by the central bank.
Companies - Thu, May 29, 2025 | 8:02 pm GMT+7
Vietnam's auto distributor TMT to launch $3.8 mln charging station firm
Vietnamese auto distributor TMT Motors has announced the establishment of a charging station company with a charter capital of VND100 billion ($3.84 million).
Companies - Thu, May 29, 2025 | 4:45 pm GMT+7
US's Excelerate Energy affirms intention to turn Vietnam into LNG hub for ASEAN
Excelerate Energy wants to make Vietnam a center for LNG distribution to the ASEAN region, president and CEO Steven Kobos told Prime Minister Pham Minh Chinh at a meeting in Hanoi on Thursday.
Energy - Thu, May 29, 2025 | 4:33 pm GMT+7
Bourse shifts to heat up Vietnam's banking stocks
Several Vietnamese banks are planning to move their shares from the Unlisted Public Companies Market (UPCoM) to the Ho Chi Minh Stock Exchange (HoSE) this year, creating new momentum for banking stocks, long dubbed the “king” group.
Finance - Thu, May 29, 2025 | 2:48 pm GMT+7
Dairy giant TH Group proposes 5 projects in southern Vietnam
TH Group, one of Vietnam’s leading dairy producers, has proposed five major projects in the southern province of Binh Phuoc, in the fields of industrial production and urban area, golf course and high-tech agricultural production zone developments.
Industries - Thu, May 29, 2025 | 12:02 pm GMT+7
2024 cyberattack 'a blessing in disguise' for Vietnam's leading broker VNDirect: chairwoman
The cybersecurity breach that major Vietnamese brokerage VNDirect Securities encountered in 2024 was "an unfortunate incident, but also a lucky chance", chairwoman Pham Minh Huong said on Wednesday.
Finance - Thu, May 29, 2025 | 9:48 am GMT+7
Vietnam prioritizes smart, green seaport projects: Deputy PM
Vietnam encourages smart and green seaport investments, as technical barriers related to CO2 emissions and CO2 taxes begin to be tightened up globally.
Infrastructure - Wed, May 28, 2025 | 10:07 pm GMT+7
New Zealand, Vietnam expand timber trade partnership
New Zealand Forestry and Trade Minister Todd McClay on Tuesday unveiled a new bilateral agreement with Vietnam designed to boost timber exports and remove potential trade barriers in the two countries' forestry sectors.
Companies - Wed, May 28, 2025 | 8:53 pm GMT+7
- Opinion
-
Vietnam embraces new wave of investments: HSBC exec
-
Chinese e-commerce giant Temu's Vietnam entry: unfair competition or market economy norm?
-
Vietnam's economy: positive changes but concerns persist
-
Slow administrative procedures hinder Korean investments in Vietnam: KoCham chair
-
Abundant real estate opportunities surround HCMC
-
Vietnam needs to modify FDI incentives to stay competitive amid global minimum tax application: expert