Vietnamese eye travel despite economic uncertainties in 2025

While there have been concerns about discretionary spending challenges in Vietnam for 2024 and beyond, a new study by digital travel platform Agoda indicates the desire for travel among Vietnamese tourists is expected to persist into 2025.

Vietnamese tourists continue to have a strong passion for travel, valuing precious time spent with friends and family, according to the study.

A recent study from Cimigo, a market research company in the Asia-Pacific region, revealed that Vietnamese consumers are focusing on savings as their optimism wanes in the face of household economic uncertainty. The report highlighted a reduction in discretionary spending as consumers delayed or halted major purchases and shifted to value-based purchases.

Against this backdrop, Agoda's study on Vietnamese travel trends, conducted in October 2024 and joined by 1,081 respondents from 11 markets, including Vietnam, has shown that 90 percent of Vietnamese travelers are spending as much on travel this year as they spent in 2024.

Some 29 percent of respondents plan to increase the spending this year, while 61 percent have set aside the same amount for travel in 2025 as last year.

"Despite the financial constraints, Vietnamese travelers continue to prioritize meaningful experiences with family and friends over and above other discretionary spend," said Lam Vu, country director of Agoda Vietnam.

"The desire to explore new destinations, both locally and internationally, reflects a growing demand for adventure and value-driven choices."

About 86 percent of respondents reported they planned to take the same number of trips in 2025 as they did in 2024, with only 14 percent reporting they are planning to take fewer trips in the year ahead.

Almost 40 percent of respondents revealed an intention to head abroad in the coming year as Vietnamese travelers continue to spread their wings to new and unexplored territories. And 94 percent of Vietnamese travelers said 2025 would be the year of the new frontier — with tourists planning to head to new destinations, either at home or abroad.

Mirroring Cimigo's findings about a market seeking budget-friendly options, Vietnamese have proved themselves astute value-hunters when it comes to accommodation choices.

Just over half, about 55 percent, of travelers said their available budget was one of the primary drivers of their travel decisions, with 64 percent of respondents looking to spend under $250 per night for their accommodation.

Most travelers, about 88 percent, would prefer to stay in hotels while other respondents expressed interest in luxury resorts or boutique accommodations.

Booking.com, another tourism service provider, has identified that for Generation Z, travel is an essential aspect of life. The modern-day travelers prioritize value for money by traveling during off-peak seasons and seek unique, once-in-a-lifetime experiences during their trips.

Booking.com found that in 2024, 62 percent of Vietnamese Gen Z travelers opted to travel during offpeak season to save money. About 63 percent looked for travel discounts through loyalty programs to save as much as possible.

It said 69 percent of Gen Z wanted to try one-of-a-kind destination experiences such as skydiving and hot air balloon rides.

Boosting tourism

Ho Chi Minh City's tourism sector has set an ambitious target of welcoming 45 million domestic visitors and 8.5 million international tourists in 2025 to achieve a total tourism revenue of 260 trillion Vietnamese dong ($10.2 billion), a significant increase compared with 2024.

Nguyen Thi Anh Hoa, director of the city's Department of Tourism, highlighted the sector's positive results in 2024. The city attracted approximately 6 million foreign visitors and 38 million domestic tourists, up 20 percent and 8.6 percent, respectively, compared to 2023, she said.

The total tourism revenue in 2024 was estimated at 190 trillion Vietnamese dong, 19 percent higher than 2023. Both in terms of the total number of tourists and the tourism revenue, the 2024 target had been met, said Hoa.

Hoa said that to achieve the goals set for 2025, the department will advise the city authorities on devising plans to mobilize resources for tourism development, as well as establish mechanisms and policies for developing the tourism workforce.

The department, she said, will also develop a plan for managing and promoting a shared economy model in the tourism accommodation sector, as well as a medical tourism development plan from now until 2030, with a vision toward 2045.

Additionally, it would continue to implement administrative reforms and digital transformation in management activities to better serve local residents and businesses, she said.

She also said that in 2025, the tourism sector would continue with its publicity campaign "Welcome to Ho Chi Minh City" with innovative content.

The tourism sector will also collaborate with domestic and international media outlets, enhancing promotion on online channels, and producing songs and films to promote the city as a global destination, she said.

Viet Nam News, Vietnam