The importance of the tourism industry to Vietnamese tourists amidst the current economic climate and financial concerns.

Booking.com, one of the world's leading online travel companies, has just released its APAC Travel Confidence Index 2023 (TCI) study. The report focuses on the travel behavior of travelers in the Asia Pacific (APAC) region amidst major changes in the current economy and their impact on travel decisions. While 40% of Vietnamese travelers stated that financial concerns are currently their biggest worry, 83% still love and want to plan a trip in the next 12 months.

The TCI 2023 study, commissioned by Booking.com and independently conducted by Milieu Insight, involved over 8,000 travelers from 11 countries and territories across APAC, including Vietnam, and was carried out from April to May 2023. The study presents an in-depth analysis of confidence in travel and sustainable tourism throughout the APAC region.

2023 also marked the first time the TCI report revealed four types of traveler behavior, reflecting the specific motivations, priorities, and travel behaviors of different groups. This year, Vietnam was the only market in the APAC region to be in the “Mindful Voyagers” group – approaching travel with caution, driven by environmental responsibility and a desire to support local communities. In other words, Vietnamese travelers showed the highest level of concern for sustainable tourism in the APAC region.

Travel behavior

Vietnamese people tend to seek new experiences and challenges when traveling (38%). 35% of Vietnamese travelers said they wanted to explore their own country more, and 34% would explore less popular destinations.

For nearly half (45%) of travelers, leisure travel remains a 'very important' part of their daily lives now that most of the previous pandemic concerns have subsided. 83% of Vietnamese travelers said they are planning trips within the next 12 months, 45% have already booked domestic trips, and 26% have booked their next international trip (within the next 12 months).

Tourism motivation

The motivations for travel among Vietnamese tourists are diverse, but a common thread is the desire for self-development and relaxation. Over a third (35%) stated they wanted to travel for complete rest and rejuvenation; 30% wanted to immerse themselves in different cultures; and 29% wanted to travel to meet new people, strengthen bonds with loved ones, and create new experiences and memories together.

The biggest concerns when planning a trip.

Given the high demand for travel, the report also highlights the top concerns of both Vietnamese and regional travelers. The majority cited the current financial and economic situation as their biggest worry, alongside health and medical risks and other travel disruptions. (In addition to Vietnam's index, two other countries with the highest level of concern in the region are included for comparison).

● 40% of Vietnamese travelers said finances were a major concern when planning a trip (Thailand led with 57% and New Zealand with 55%).

● 40% fear contracting COVID-19 or other illnesses while traveling (Singapore 42%, Thailand 36%).

● Administrative procedures and regulations during overseas travel, including quarantine requirements at destinations or host countries, are a major concern for 30% of Vietnamese tourists. Of these, 25% stated that the cost, complexity, and high cost of visa application procedures also make them think twice before deciding to travel internationally.

On the other hand, to save money while traveling, 44% of travelers said they would choose to travel during off-peak months, 43% would take advantage of loyalty programs to offset additional costs, and 28% would opt for less expensive modes of transportation during their trip.

Top favorite places and activities to do when traveling.

The majority of Vietnamese tourists tend to choose to visit beaches and islands (61%), followed by major cities (60%); and choose physical activities and sports (45%) to experience during their trip.

Varun Grover, Country Director of Booking.com in Vietnam, said: “Given the economic uncertainties we are facing, it is encouraging to see that Vietnamese travelers are still showing a willingness to travel and explore new places within Vietnam and at international destinations.”

Understanding how economic uncertainties have impacted the preferences of Vietnamese travelers, Booking.com remains committed to providing a simple and easy experience in booking, planning, and managing trips – all through a single platform. With our ever-expanding services, travelers always have more options to explore and achieve greater satisfaction as they continue to personalize their journeys more effectively.”

Phuong Thao is an editor at Travellive magazine. She is passionate about traveling and enjoys capturing moments with her camera in every place she visits. Travel, art, and lifestyle are Phuong Thao's favorite writing topics.

Phuong Thao