Recovery of Vietnam’s Tourism Sector 2022-2023

The 2023 edition of the “Doing Business in Vietnam” guide, published by the CEEC (The Central and Eastern European Chamber of Commerce in Vietnam), offers investors valuable insights into the Vietnamese market. This publication is a valuable resource for understanding the Vietnamese market. It helps investors connect with companies and explore the market's potential in various sectors. As a board member of CEEC, Łukasz Kozłowski highlights the positive strides made in the tourism and hospitality sector, signaling a much-anticipated recovery from the COVID-19 pandemic.

In 2022, Vietnam welcomed 3.8 million visitors, primarily from Asia, which is only 18% of pre-pandemic levels. One of the primary challenges stems from Vietnam's visa policies, which until August 15, 2023, limited visitors to single-entry, 30-day e-visas. The visa restrictions made it difficult for travelers to plan multi-destination trips, especially for travel companies. Fortunately, the upcoming changes—extending e-visa validity to 90 days and reintroducing multiple-entry visas—are expected to significantly enhance the tourism landscape. The target for 2023 is over 8 million arrivals, with 2.69 million already recorded in the first quarter.

To address these visa challenges and attract more visitors, Lukasz suggests that Vietnam focus on implementing targeted marketing campaigns, fostering cooperation between provinces, and highlighting its unique destinations. Phu Quoc, a visa-free zone, has already shown promising results, attracting more tourists and chartered flights. With its natural beauty and rich cultural heritage, Vietnam has the potential to rapidly revitalize its tourism industry and even surpass its pre-pandemic international visitor numbers.

As Lukasz stated in the guide “Vietnam has the potential to rapidly redevelop its sustainable tourism industry and surpass pre-pandemic levels of international arrivals”, he believes that with the right strategies, Vietnam can fully capitalize on its natural beauty and cultural heritage, attracting more travelers and revitalizing its tourism sector.

For a more in-depth analysis of the growth potential in tourism and other sectors, check out the full publication here: Doing business in Vietnam 2023