Developments - February 2018 - 42

INTERNATIONAL

On the Rise: Vietnam's Emerging
Tourism Market
BY LEANN MCDONOUGH

V

ietnam is a development success
story. The rapid growth in the
country's travel and tourism
industry over the past 10 years
has spurred a steady flow of investment in
lodging, infrastructure, and attractions.
In 2016, Vietnam welcomed 10 million
international tourists, which marked a
26 percent increase from 2015 (Vietnam
National Administration of Tourism).
China is the leading tourism source
market for Vietnam with 2.7 million
visitors-representing almost 30 percent of
all international visits. South Korea follows
pace with 1.5 million visitors, as does Japan
at nearly 750,000 visitors.
With one of the highest populations in
the world, the country's domestic travel
market has boomed, too. Vietnam saw 57
million domestic travelers in 2015, which
nearly doubled from 38.5 million in 2014
(Vietnam National Administration of
Tourism).
Leisure tourism spending, both domestic
and international, has grown at a steady rate
over the past several years as well, exceeding $13 billion USD in 2014. Spending is
projected to increase over the next decade
at a strong rate, potentially surpassing
$27 billion USD by 2025 (World Travel &
Tourism Council).
Outbound travel is also on the rise. The
Vietnam Tourism Association estimates
approximately 6.5 million Vietnamese
traveled overseas in 2016, a 15 percent
increase from 2015. Their tourism spending
in 2016 resulted in a total of approximately
$8 billion USD.
Factors for Growth
A number of political and economic
reforms over the recent years have transformed Vietnam from one of the poorest

42 - Developments

Hon Tam eco-green resort - interior

countries in the world to a lower middle
income country. The percentage of people
living in poverty dropped from nearly 60
percent in the 1990s to less than 3 percent
today. GDP growth has averaged around
6 percent annually and is expected to
continue at that rate.
This economic turn has led to more
jobs, higher wages, and stronger consumer
confidence. These positive outcomes reach
Vietnam's tourism market as well, with
capital investment growing significantly
over the past 15 years from less than $1
billion USD in 2000 to $4.6 billion USD in
2014. This spending represented 10 percent
of the total national investment in 2014,
which is significantly higher than both
the world average (4.3%) and Asia Pacific
average (3.7%).

The Vietnamese government is playing
a part, too, with its objective to develop
tourism into a key economic sector by 2020.
The government is investing in tourism
infrastructure, implementing policies to
encourage tourism investment and seeking
international support to boost visitors.
Several favorable policies-including
the launch of e-visa for visitors from 40
countries-have made entry into Vietnam
easier and less costly.
Hot Spots
"As Vietnam steps into the spotlight as
a leading travel destination, we're seeing
several key cities emerge as hotbeds for
tourism," said Jonathan Mills, managing
director of RCI Asia Pacific. "These cities
and the unique travel experiences they offer



Table of Contents for the Digital Edition of Developments - February 2018

UP FRONT
FIRST WORD
AROUND THE INDUSTRY
TRUSTEE TALK
CHARITY SPOTLIGHT
PARTNER SHOWCASE
OWNER BUZZ
YOUR ARDA WORLD PLANNER
BRIGHTEST CITY ON EARTH
MARKETPLACE MAP
WHERE NEXT?
VIETNAM: ON THE RISE
RE-THINKING TIMESHARE
FACES/FRONTLINES
FOCUS ON: REPUTATION MANAGEMENT
MEMBER MATTERS
MEMBERSHIP UPDATES
LAST WORD
Developments - February 2018 - 1
Developments - February 2018 - Cover1
Developments - February 2018 - Cover2
Developments - February 2018 - 1
Developments - February 2018 - 2
Developments - February 2018 - 3
Developments - February 2018 - 4
Developments - February 2018 - 5
Developments - February 2018 - UP FRONT
Developments - February 2018 - 7
Developments - February 2018 - FIRST WORD
Developments - February 2018 - 9
Developments - February 2018 - AROUND THE INDUSTRY
Developments - February 2018 - 11
Developments - February 2018 - 12
Developments - February 2018 - 13
Developments - February 2018 - 14
Developments - February 2018 - 15
Developments - February 2018 - 16
Developments - February 2018 - 17
Developments - February 2018 - 18
Developments - February 2018 - 19
Developments - February 2018 - TRUSTEE TALK
Developments - February 2018 - 21
Developments - February 2018 - CHARITY SPOTLIGHT
Developments - February 2018 - 23
Developments - February 2018 - 24
Developments - February 2018 - 25
Developments - February 2018 - PARTNER SHOWCASE
Developments - February 2018 - 27
Developments - February 2018 - OWNER BUZZ
Developments - February 2018 - 29
Developments - February 2018 - YOUR ARDA WORLD PLANNER
Developments - February 2018 - 31
Developments - February 2018 - BRIGHTEST CITY ON EARTH
Developments - February 2018 - 33
Developments - February 2018 - 34
Developments - February 2018 - 35
Developments - February 2018 - MARKETPLACE MAP
Developments - February 2018 - 37
Developments - February 2018 - WHERE NEXT?
Developments - February 2018 - 39
Developments - February 2018 - 40
Developments - February 2018 - 41
Developments - February 2018 - VIETNAM: ON THE RISE
Developments - February 2018 - 43
Developments - February 2018 - 44
Developments - February 2018 - 45
Developments - February 2018 - RE-THINKING TIMESHARE
Developments - February 2018 - 47
Developments - February 2018 - FACES/FRONTLINES
Developments - February 2018 - 49
Developments - February 2018 - FOCUS ON: REPUTATION MANAGEMENT
Developments - February 2018 - 51
Developments - February 2018 - MEMBER MATTERS
Developments - February 2018 - 53
Developments - February 2018 - MEMBERSHIP UPDATES
Developments - February 2018 - 55
Developments - February 2018 - 56
Developments - February 2018 - 57
Developments - February 2018 - 58
Developments - February 2018 - 59
Developments - February 2018 - 60
Developments - February 2018 - 61
Developments - February 2018 - 62
Developments - February 2018 - 63
Developments - February 2018 - LAST WORD
Developments - February 2018 - Cover3
Developments - February 2018 - Cover4
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