Vietnam Travel & Tourism Market By Service Offering (Ticket Reservation, Hotel Booking, Holiday/Tour Packages, Travel Insurance, Foreign Exchange, Conference/Trade Fair Services/MICE and Others), By Type (Domestic, Inbound, Outbound), By Purpose of Visit (Business, Leisure & Recreation, Education, Medical, Social Activity and Others), By Region, Competition Forecast & Opportunities, 2021-2031F

Key Insights	Details
Forecast Period	2027-2031
Market Size (2025)	USD 45.67 Billion
CAGR (2026-2031)	9.71%
Fastest Growing Segment	Domestic
Largest Market	Southern Vietnam
Market Size (2031)	USD 79.64 Billion

Market Overview

The Vietnam Travel & Tourism Market will grow from USD 45.67 Billion in 2025 to USD 79.64 Billion by 2031 at a 9.71% CAGR. The Vietnam Travel & Tourism Market encompasses the full spectrum of services and experiences for international and domestic visitors, including accommodation, transportation, and leisure activities. Market growth is primarily driven by supportive government policies such as enhanced visa facilitation, strategic infrastructure investments, and targeted tourism promotion efforts highlighting the nation's diverse natural and cultural heritage. According to the National Statistics Office, Vietnam welcomed 21.1 million international visitors in 2025, an impressive 20.4 percent increase over the preceding year, showcasing robust sector expansion.

This positive trajectory extended into the current year. According to the National Statistics Office, Vietnam recorded 10.6 million international arrivals in the first five months of 2026, with accommodation and food services revenue reaching an estimated VNĐ400.4 trillion, up 13.3 percent from the same period in 2025. Nevertheless, considerable regional competition for international travelers presents a notable challenge to ongoing market development.

Key Market Drivers

Policy Liberalization and Visa Accessibility Driving Tourism Growth
Supportive Government Policies and Visa Liberalization stands as a pivotal catalyst for the robust expansion of Vietnam's travel and tourism market. Recent policy adjustments have significantly enhanced accessibility for international visitors, streamlining entry procedures and broadening the scope of visa exemptions. According to vietnam-visa.com (February 2026), e-visas are accepted at 83 entry/exit points as of December 2025, a substantial increase from the previous 42, allowing for enhanced international accessibility. This proactive approach not only facilitates easier travel but also strategically positions Vietnam as a more attractive and competitive destination in the global tourism landscape, encouraging longer stays and repeat visits.

Infrastructure Investment to Expand Capacity and Attract Tourists
Strategic Investment in Tourism Infrastructure Development also plays a crucial role in supporting the escalating visitor numbers and improving the overall quality of the tourist experience. Government initiatives and private sector collaborations are channelizing significant capital into upgrading and expanding critical infrastructure, including airports, transportation networks, and accommodation facilities. According to 'Vietnam's tourism boom: racing to become southeast asia's new leader' (June 2026), work now in progress features an investment exceeding 830 million dollars for a fresh airport on Phu Quoc Island, aiming for completion before the 2027 APEC meeting. These investments are fundamental to enhancing capacity and service standards, ensuring Vietnam can accommodate its growing international arrivals. According to Qazinform, in the first two months of 2026, Vietnam received nearly 4.7 million foreign tourists, representing an 18.1 percent increase compared with the same period last year.

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Key Market Challenges

Regional Competition Constrains Vietnam's Tourism Growth
The Vietnam Travel & Tourism Market faces a significant impediment to its sustained expansion due to intense regional competition for international travelers. Despite Vietnam's notable growth, the presence of established and well-resourced tourism markets within Southeast Asia necessitates continuous strategic investment and differentiation efforts to attract and retain visitors. This considerable regional rivalry directly impacts the ongoing market development by limiting potential market share and requiring substantial resources for competitive positioning.

Arrival Gap Drives Competitive Pressure and Investment
For instance, according to data compiled from the ASEAN Secretariat, in 2025, while Vietnam recorded 21.2 million international arrivals, it still lagged behind regional leaders such as Malaysia, which welcomed 42 million arrivals, and Thailand, with 33 million arrivals. This substantial gap in overall visitor numbers underscores the persistent challenge of competing for a larger share of the international tourism market. The need to vigorously compete on pricing, product diversification, and destination branding against these formidable regional players directly influences resource allocation and curtails the pace at which Vietnam can capture additional market share, thereby hampering accelerated growth.

Key Market Trends

Shift toward experiential and cultural immersion shaping tourism offerings
The Vietnam Travel & Tourism Market is significantly shaped by a profound shift towards experiential and cultural immersion, as travelers increasingly seek authentic engagement beyond conventional sightseeing. This trend manifests in a heightened demand for activities that connect visitors with local traditions, gastronomy, and community life, thereby fostering deeper understanding and memorable interactions. For instance, the ancient imperial capital of Hue, a hub for cultural heritage, successfully positioned itself to capitalize on this preference, generating over VND13 trillion (approximately US$494.2 million) in total tourism revenue in 2025. This sustained interest in unique cultural experiences influences product development, leading to more specialized tours, interactive workshops, and community-based tourism initiatives across the country.

Sustainable and eco-tourism reshaping the market
Concurrently, a growing demand for sustainable and eco-tourism is fundamentally reshaping the market, driven by rising environmental consciousness among both domestic and international visitors. This trend emphasizes responsible travel practices that minimize ecological footprints, support conservation efforts, and ensure benefits for local communities. The focus on preserving Vietnam's natural landscapes and biodiversity is becoming a key differentiator for destinations. According to Vietnam Investment Review, April 30 2026, in 'Sustainable tourism to shape Vietnam's growth path', Agoda's 2026 Sustainable Travel Survey revealed that more than 80 percent of Vietnamese travelers consider sustainability important when making travel decisions. This strong consumer preference is prompting tourism businesses and local authorities to invest in green infrastructure, eco-friendly accommodations, and ethically managed nature-based activities to attract this increasingly discerning segment.

Segmental Insights

Domestic Travel Growth Driven by Rising Income and Government Support
The key segmental insight for the Vietnam Travel & Tourism Market highlights the domestic segment as the fastest growing. This rapid expansion is primarily driven by a burgeoning middle class with increased disposable income, which fuels demand for local travel experiences. Additionally, sustained government initiatives, as observed from strategies supported by the Vietnam National Authority of Tourism, actively promote domestic exploration through targeted campaigns and enhanced infrastructure development, including improved road and air connectivity. This supportive environment, coupled with a notable shift towards frequent, shorter leisure trips among Vietnamese consumers, significantly contributes to the segment's sustained robust growth.

Regional Insights

Southern Vietnam: Market Leader and Gateway to a Coastal Tourism Corridor
Southern Vietnam consistently leads the nation's travel and tourism market, primarily driven by its robust infrastructure and diverse attractions. Ho Chi Minh City serves as a pivotal international gateway and a significant urban center for business and leisure travel, anchoring a dynamic coastal tourism corridor that includes prominent destinations such as Phu Quoc and Ba Ria-Vung Tau. These regions benefit from substantial investment in aviation and high-quality accommodation, enhancing accessibility and visitor capacity. The Vietnam National Authority of Tourism, operating under the Ministry of Culture, Sports and Tourism, has strategically supported the development of these areas, leveraging their natural landscapes, cultural offerings, and capacity for premium tourism experiences to attract both domestic and international visitors.

Recent Developments

• In December 2025, the national tourism data platform, "Visit Vietnam," was officially unveiled in Phu Quoc. This breakthrough digital initiative, co-organized by the National Data Association, the Vietnam National Authority of Tourism, Sun Group, and Visa, represents Vietnam's first national-level data platform dedicated to tourism. The platform collects, processes, and visualizes real-time tourism data, aiming to accelerate digital transformation, enhance travel experiences, and strengthen Vietnam's competitiveness and sustainable tourism growth by improving data utilization.
• In August 2025, Sun Group was selected as the investor for a $2 billion casino-tourism complex project in the Van Don Economic Zone of Quang Ninh province. This substantial investment will develop a premium integrated resort and entertainment complex across 244.45 hectares, featuring casino operations, hotels, resorts, commercial townhouses, and conference facilities. The project received in-principle approval in June 2025 and aims to position Van Don as a major international tourist destination, comparable to established global entertainment hubs.
• In August 2025, Ho Chi Minh City launched its 2025 Tourism Development Stimulus Program, aiming to welcome 10 million international visitors and 50 million domestic travelers. As part of this initiative, the city's Department of Tourism partnered with Traveloka Vietnam to implement a digital campaign promoting Ho Chi Minh City as a vibrant destination. The program allocated over VND 4 billion (approximately USD 152,000) in e-vouchers for various tourism services, emphasizing the integration of digital platforms to enhance booking and customer service experiences for tourists.
• In June 2024, Vietnam Airlines successfully implemented Amadeus' enhanced passenger service system (PSS) technology and related solutions as part of its ongoing digital transformation. The Amadeus Altéa PSS provides the airline with comprehensive tools for inventory management, reservations, ticketing, and departure control, aiming to improve end-to-end efficiencies and enhance user experience. This strategic move was a significant step towards Vietnam Airlines' ambition of becoming a digital airline by 2025, allowing it to offer more tailored and seamless experiences to passengers across various channels and touchpoints.

Key Market Players

• Vietnam National Administration of Tourism
• Saigontourist Group
• Vietravel
• Hanoitourist Corporation
• BenThanh Tourist
• Fiditour
• Vietnamtourism Hanoi
• VietSense Travel
• Exotissimo Travel
• Buffalo Tours

By Service Offering	By Type	By Purpose of Visit	By Region
Ticket Reservation Hotel Booking Holiday/Tour Packages Travel Insurance Foreign Exchange Conference/Trade Fair Services/MICE and Others	Domestic Inbound Outbound	Business Leisure & Recreation Education Medical Social Activity and Others	Northern Central Southern

Report Scope:

In this report, the Vietnam Travel & Tourism Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Vietnam Travel & Tourism Market, By Service Offering:

• Ticket Reservation
• Hotel Booking
• Holiday/Tour Packages
• Travel Insurance
• Foreign Exchange
• Conference/Trade Fair Services/MICE and Others

• Vietnam Travel & Tourism Market, By Type:

• Domestic
• Inbound
• Outbound

• Vietnam Travel & Tourism Market, By Purpose of Visit:

• Business
• Leisure & Recreation
• Education
• Medical
• Social Activity and Others

• Vietnam Travel & Tourism Market, By Region:

• Northern
• Central
• Southern