Daily Spending of International Visitors to Vietnam Stagnant for Many Years

Diep Nguyen

13:56 16/07/2019

BizLIVE -

This shift therefore represents an erosion in the overall economic yield of Vietnam’s international visitor mix, evidenced by the stagnant average daily spending of visitors between 2014 and 2017 (US$96).

Daily Spending of International Visitors to Vietnam Stagnant for Many Years
Most top source markets recorded robust double-digit growth rates in the range of 10-20 percent between 2015 and 2018, but in the case of China and South Korea, annualized growth over this period averaged around 43 percent, a remarkable increase given the already-high level of arrivals from these countries and their maturity as tourism source markets for Vietnam. 
As a result, the share of total arrivals from China and South Korea has ballooned from 31 percent in 2012 to 55 percent in 2018. While this trend has benefitted overall arrival numbers, visitors from these two markets tend to have shorter lengths of stay, on average, than visitors from longer-haul markets such as Europe and the United States, and, in the case of China, also spend relatively less per day. 
This shift therefore represents an erosion in the overall economic yield of Vietnam’s international visitor mix, evidenced by the stagnant average daily spending of visitors between 2014 and 2017 (US$96), and a decline in their average length of stay (from 11.1 days in 2013 to 10.2 days in 2017).
These key visitor source markets have not changed significantly in recent years, but there has been a marked increase in the share of Chinese and Korean visitors—relatively lower-yielding visitor segments. 
Most top source markets recorded robust double-digit growth rates in the range of 10-20 percent between 2015 and 2018, but in the case of China and South Korea, annualized growth over this period averaged around 43 percent, a remarkable increase given the already-high level of arrivals from these countries and their maturity as tourism source markets for Vietnam. As a result, the share of total arrivals from China and South Korea has ballooned from 31 percent in 2012 to 55 percent in 2018. 
While this trend has benefitted overall arrival numbers, visitors from these two markets tend to have shorter lengths of stay, on average, than visitors from longer-haul markets such as Europe and the United States, and, in the case of China, also spend relatively less per day. This shift therefore represents an erosion in the overall economic yield of Vietnam’s international visitor mix, evidenced by the stagnant average daily spending of visitors between 2014 and 2017 (US$96), and a decline in their average length of stay (from 11.1 days in 2013 to 10.2 days in 2017)

DIEP NGUYEN

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