The number of foreign investors may decrease by 3.7-4.7 million, and the number of domestic travelers by 10.9-15.3 million.
The Vietnam National Administration of Tourism (VNAT), analyzing the average spending of travelers and the decrease in predicted number of travelers, has estimated that the loss the Vietnam’s tourism industry may incur could be up to $7.7 billion.
The number of travelers in the last five years
The Chinese market, which provides 30 percent of total foreign travelers to Vietnam, is expected to see the sharpest decrease, by 90-100 percent. Vietnam may lose 1.7-1.9 million travelers from the market. The average spending of tourists is $1.021 per traveler, which means a loss of $1.8-2 billion.
|As for the domestic market, with the estimated decrease of 50-70 percent, or 10.9-15.3 million and the average spending of VND1.9-5.8 million, the loss would be $1.9-2.7 billion.|
As for the domestic market, with the estimated decrease of 50-70 percent, or 10.9-15.3 million and the average spending of VND1.9-5.8 million, the loss would be $1.9-2.7 billion.
Vietnamese cities continued to be popular among local travelers in 2019, with local destinations taking up nine out of the top ten cities in 2019, according to Agoda.
What super-luxury travelers need are satisfaction and difference. If Vietnam can provide these factors, it will be able to attract billionaire travelers, some experts believe.
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