Vietnamese travel demand expected to continue rising in 2025 despite spending concerns: studies
Vietnamese travel demand expected to continue rising in 2025 despite spending concerns: studies
While there are concerns about challenges to discretionary spending in Vietnam for 2024 and beyond, demand for travel among Vietnamese people is expected to continue rising into 2025, according to recent studies.
Tourists visit a durian garden in Cam Mountain tourist area in An Giang Province, southern Vietnam. Photo: Pham Vu / Tuoi Tre |
A recent study from research company Cimigo revealed that Vietnamese consumers are focusing on savings as their optimism wanes in the face of household economic uncertainty.
The report highlighted a reduction in discretionary spend as consumers delayed or halted major purchases and shifted to value-based buys.
Against this backdrop, digital travel platform Agoda’s latest study into Vietnamese travel trends has shown Vietnamese consumers are still keen to travel, with respondents placing a high value on precious time away with friends and family.
When it comes to holiday spend, the Agoda study found that 90 percent of the Vietnamese travelers are budgeting at least as much next year for travel as they spent in 2024.
Twenty-nine percent of the respondents plan on increasing spend next year while 61 percent have set aside the same amount for their 2025 voyages.
These findings are mirrored in the number of planned trips Vietnamese travelers are eyeing for the year ahead.
Eighty-six percent of the respondents reported that they plan on taking at least the same number of trips in 2025 as they did in 2024, with only 14 percent saying that they are planning to take fewer trips in the year ahead.
Almost 40 percent indicated an intention to head abroad in the coming year as Vietnamese travelers continue to spread their wings to new and unexplored territories.
Ninety-four percent of the Vietnamese travelers said 2025 will be the year of the new frontier -- with tourists who have outgrown visiting familiar places planning to head to new destinations, either within Vietnam or internationally.
Mirroring Cimigo’s findings about a market seeking budget-friendly options, Vietnamese prove themselves astute value-hunters when it comes to accommodation choices.
Fifty-five percent of the travelers reported that their available budget is one of the primary drivers in their travel decision-making, with 64 percent of the survey respondents looking to spend under $250 per night for their total accommodation.
Eighty-eight percent of the travelers prefer to stay in hotels while 42 percent also expressed interest in luxury resorts or boutique accommodations.
The interest in luxury resorts, combined with a relatively modest maximum spend, indicated that consumers are on the lookout for the best deals they can find.
This means travel platforms that deliver value-driven purchases will play a key role in delivering on expectations.
“Despite financial constraints, Vietnamese travelers continue to prioritize meaningful experiences with family and friends over and above other discretionary spend,” said Lam Vu, country director of Agoda Vietnam.
“The desire to explore new destinations, both locally and internationally, reflects a growing demand for adventure and value-driven choices."
Agoda surveyed 1,081 respondents from eleven markets -- namely Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam.
The survey was conducted in October.
