World’s 7th fastest growing tourism industry
In 2018, the Vietnamese government reinforced a new law. The law focus on the development of tourism industry in Vietnam. The industry has a lethal role in Vietnamese industry. Due to its rapid growth, it is the seventh fastest growing country in the world. And it’s the only country in Southeast Asia being in the top 10.
Previously, in the first months of 2018, 5.5 million international tourists came to Vietnam. The number increased by 29.5 percent from the same period in 2017. While in 2017, the number of arrivals increased by 29.1 percent. It’s roughly a 60 percent increase in 2 years. And by 2020, Vietnam’s tourism industry revenue is predicted to reach US$35 billion.
Online Tourism and Foreign Firms
The growth of Vietnam tourism industry is supported by online tourism. Tourism apps, for example, have a great role on this. Because those apps help tourists to find better lodge, means of transport and hidden landmark. Along with the surge of tourism apps, a lot of foreign firms came. They then started to dominate Vietnam’s online tourism industry.
The foreign firms, as online travel agencies, excel in technology solutions. Not only that, but also the scale of partnership with hotels and funding. By the massive funding, they are able to give high discounts. And a lot of big promotion schemes are used to attract tourists from around the world. Roughly, 80% of online travel agencies are foreign firms.
Tourism industry as key industry for Vietnam
However, it doesn’t mean that the locals are harmed by foreign firms. With the increasing number of online travel agencies, it is easier for foreign tourists to find information. That way, a lot more international tourists came. To handle the big number of tourists, the foreign firms hire locals.
More and more Vietnamese are hired in the tourism fields. Tourism industry then became the key industry with 7 percent contribution to the country’s GDP. And according to the rapid growth, it is predicted to reach 10 percent by 2020.
