Vietnam Tourism Market: Current Analysis and Forecast (2025-2033)

Tourism can be defined as the movement of persons between the tourist and the destination, staying in the host location overnight and/or consuming certain services, such as transport, accommodation, food, and experience, unlike travel. It is a diverse sector that promotes the economy, as well as employment opportunities, and fosters cultural interaction with other parts of the world.

The Vietnam Tourism market is set to show a growth rate of about 12.50% during the forecast period (2025-2033F). The major growth factors include the increasing spending of the middle class, improved airport and road access, visa-free access to major destination countries, and increased government investment in marketing the destination. For example, on April 19, 2025, in Quang Binh Province, Airports Corporation of Vietnam (ACV) held the groundbreaking ceremony for the construction of Passenger Terminal T2 at Dong Hoi Airport, with a total investment of over VND 1,750 billion (~USD 67.5 million). The market's positioning is advanced by the emergence of domestic tourism following COVID-19, increased attendance in cultural and wellness tourism, and the endorsement of public-private projects in the tourism sector.

Based on the tourism type, the market is segmented into domestic and international. Among these, the international tourism market is expected to grow with the highest CAGR during the forecast period (2025-2033). The increased inbound tourism by the South Korean, Chinese, and European tourists is driving companies to extend their services to multilingual tours, cross-border cooperation, and visa processing. This segment drives demand for tour packages of greater value and a premium experience. Moreover, companies are expanding outbound and inbound infrastructure in a corresponding magnitude. According to the Vietnam National Authority of Tourism, International visitors to Vietnam in June 2025 are estimated to be 1,462,867 arrivals, a decrease of 4.3% from May 2025 and an increase of 17.1% over the same period in 2024. Total international arrivals in 6 months 2025 reached 10,664,608 arrivals, up 20.7% over the same period in 2024.

Based on the purpose of visit, the market is segmented into leisure, business, medical, and others. Among these, the medical tourism market is expected to grow with a significant CAGR during the forecast period (2025-2033). The low-cost cosmetic and dental treatments in Vietnam serve as a tourist attraction to many local tourists and foreign visitors in the two cities of Vietnam, Ho Chi Minh City and Hanoi. Additionally, travel operators are collaborating with hospitals and clinics to package care and travel services. This segment enhances premium service packages and tailor-made tour packages. According to estimates from the Ministry of Health, in June 2025, around 300,000 people from abroad come to Vietnam for medical examinations and treatment each year.

Based on the mode of transportation, the market is segmented into air, land, and sea. Among these, the air held a significant share of the market in 2024. The growth in both domestic and international air traffic is directly benefiting tour operators and hotel chains, with increased mobility and a far wider reach. Moreover, affordable airlines such as VietJet and Bamboo Airways allow the opening of new tourist destinations. This is facilitating the growth of package tour demand as well as the adoption of last-minute travel.

For a better understanding of the market adoption of the Vietnam Tourism market, it is analyzed based on its region-wise presence in Vietnam, such as Northern Vietnam, Central Vietnam, and Southern Vietnam. Southern Vietnam is expected to grow with a significant CAGR during the forecast period (2025-2033). Tourism income is primarily generated in Southern Vietnam, which is dominated by Ho Chi Minh City and Kien Giang, due to its excellent infrastructure, vibrant city life, and seaside tourism centers, such as Phu Quoc. There is a concentration of luxury hotels, international flights, and MICE activity, which is beneficial to travel companies. This area serves as a gateway and transit point, making it crucial for tour company operators and airlines.

Some major players running in the market include Saigontourist Travel (Saigontourist Group), Vietnamtour.in, Ethnic Travel, Indochina Voyages, Discova, AsiaTripDeals.com, Vietnam TravelMart, TheSinhTourist, Vietnam Tour Fun, Deluxe Vietnam Tours.