Vietnamese tourists spend more on overseas holidays
Vietnamese expect to travel more, spend more, and increasingly travel outside of Asia over the next two years thanks to smooth economic expansion.
It was released on the latest “Global Travel Intentions” (GTI) survey conducted by Visa, which provides a worldwide, comprehensive look at travel and tourism in 2018 through analyzing international travel trends and the behavior of more than 15,000 global travelers from more than 27 countries and territories.
Thailand, South Korea and Japan were the most visited countries of Vietnam’s tourists
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Thailand, South Korea, Japan and Singapore were the most visited countries. Intra-region travel dominated, with 91 percent of Vietnamese travelers visiting destinations in Asia in the past two years. They are likely to continue to be well patronized over the next two years, with the United States emerging in the top five.
Seventy-four per cent of travelers use credit or debit cards when booking their trips, and while many do use cards at their destination, the majority prefers to carry foreign currency.
“As Vietnam’s economy grows and an increasing number of citizens join the ranks of the global middle and upper classes, more people are going to take an interest in traveling the world,” said Sean Preston, Visa Country Manager for Vietnam, Cambodia, and Laos.
“This is reflected in the results of our survey, with people taking more trips and spending more, while technology is giving travelers the ability to take trip planning and booking into their own hands. We’ve also seen really positive developments in card usage, with Vietnamese travelers relying heavily on their credit and debit cards for booking hotels, flights, and activities before embarking on their trips.”
The Visa findings highlight various parts of the travelers’ journey, surveying respondents from Vietnam and around the world.
Some of the top themes from the study found that travelers the world over are taking shorter and more frequent trips, motivated by the need to bond with family and loved ones, while concerns over the loss or theft of cash at the destination remain.
Vietnamese travelers take the most short trips in the world, with 74 per cent of trips being for four nights or less, much lower than the APAC average of seven nights. They choose destinations that are, on average, four and a half hours of travel time away.
As the desire to travel continues to grow, the GTI study, found that motivations to travel have blurred, with consumers citing a combination of “achievement” and “reward” as a key motivator.
Among the Top 5 motivations, reward-based motivations include bonding with family and friends and to unplug, while achievement-based motivations include experiencing new cultures and visiting exotic destinations. Six in ten travelers globally (63 per cent) describe themselves as wanting a combination of both throughout their travels, while seven in ten Vietnamese travelers (72 per cent) feel likewise.
According to Mastercard, Vietnam has the second fastest growing outbound market in the Asia Pacific region, after Myanmar, with projected annual growth of 9.5 percent between 2016 and 2021.
Mastercard forecast that some 7.5 million Vietnamese travelers will venture outside the country in 2021, increasing from only 4.8 million in 2016.
Eric Schneider, senior vice president, Asia Pacific, Mastercard Advisors, said the burgeoning middle class is driving the growth of outbound travel in Asia Pacific, including Vietnam, along with other trends such as the emergence of the Asian millennial traveler, and on the other end of the spectrum, the senior traveler, as well as new technology and infrastructure developments.
Caption: Thailand, South Korea and Japan were the most visited countries of Vietnam’s tourists
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