Viet Nam's tourism revenue to hit billions-report

An increase in government support and private investment has grown Viet Nam tourism such that by 2013, the industry?s revenue will reach USD8.7 million, a recent report claimed.

According to an industry research report from RNCOS, Viet Nam?s tourism industry has been growing unprecedentedly and is projected to record a double-digit growth rate into the future.

The Viet Nam Government?s moves to actively expand and redevelop its tourism strategies and infrastructure resulted in its tourism industry contributing an estimated 13.1 per cent of the GDP to the country?s economy, revealed the report.

?The government has been spending readily on promotional activities all around the world to boost the nation?s tourism industry,? the report said.

The report showed that as more and more tourists visited Viet Nam, private investment into the hospitality sector grew.  

Between January and November 2009, Viet Nam?s tourism industry accounted for 44.7 per cent of the country?s total foreign direct investment.

?Moreover, major international players in the hospitality sector have also set up their base in the country,? the report said.

With the rise in 2010 meetings, incentives, conferences and events, the country is likely to draw more business travellers and potentially more investment.
Also highlighted in the report was a marked growth in health tourism, Viet Nam recording a 30 per cent rise in 2009 over the previous year.

Sourced=etravelblackboardasia