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Vietnam Aims for $30bn in Tourism Revenue by 2020

Vietnam’s tourism sector has a lot to prove after the Ministry of Culture, Sports and Tourism rolled out a plan to achieve $US30 billion in annual revenue by 2020.

Recently, during a conference held between the central government and officials from nine of the country’s major tourism localities, Minister of Culture, Sports and Tourism Nguyen Ngoc Thien unveiled the plan and its target goals, reports Thanh Nien.

Specifically, the tourism sector is aiming for $US30 billion in yearly revenue, accounting for 10% of Vietnam’s total GDP. The proposal also hopes to create 3.5 million jobs for locals, servicing a target goal of 14-15 million international tourists per year by 2020.

“Those targets are totally feasible because we are going to have many opportunities for development. The target is equal to only half of Thailand’s while our recent investment will bring effects,” he told Thanh Nien.

At the event, authorities from the country’s tourist destinations also discussed several issues hampering Vietnam’s tourism growth, including a lack of coordination between involved parties and insufficient funding. The Pacific Asia Travel Association also pointed out in a recent report that 90% of Vietnam's tourists are first-timers but only 6% make return visits to the country, reports Tuoi Tre.

“In HCMC, waterway tourism faces barriers after the transport sector did not think about tourism when building low bridges,” Director of the Ho Chi Minh City Department of Tourism Van Thi Bach Tuyet shared with Thanh Nien.

Thien cited the low amount of the state budget dedicated to tourism promotional activities – US$2 million a year – as a contributing factor, although this is already changing. The ministry is seeking to more than double that amount to US$5.24 million next year

[Photo via VHG]

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