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Vietnam Eyes $35bn in Tourism Revenue by 2020

Vietnam is aiming to rake in US$35 billion in revenue from the tourism industry in 2020.

VnExpress reports that the Politburo, the country's top decision-making body, has issued a resolution outlining several initiatives in order to meet this goal. Relaxed visa policies and new "open sky" policies, which allow more airlines to fly within the country, will be implemented in the next few years, the news source reports. 

Last year, Vietnam took in US$17.6 billion in tourism revenue, a figure that is expected to hit US$20 billion this year, according to VnExpress.

Also in 2020, the Politburo aims to welcome 17-20 million foreign visitors, up from just over 10 million in 2016. As a result, the tourism industry should make up 10% of the country's GDP.

Under new visa policies put in place over the last two years, visitors from Denmark, France, Germany, Italy, Norway, Russia, Spain, Sweden, the United Kingdom, Japan and South Korea can visit Vietnam for 15 days without a visa. It is likely that more countries – such as Australia and India – will be added to this list in future, the news source reports.

Meanwhile, a pilot e-visa scheme has also been approved and will begin on February 1, simplifying entry procedures for visitors, VN Express adds.

By 2030, Vietnam hopes to become the leading tourism destination in Southeast Asia.

[Photo via Flickr user California Cow]

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