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Viettonkin Consulting is proud to announce three new strategic partnerships with Robert Yam Co., Oborseana, and CorpelServe, further strengthening our commitment to delivering seamless cross-border business expansion services to clients across Asia. Robert Yam Co. (Singapore) Established in Singapore, Robert Yam Co. is a reputable firm offering audit, tax, and accounting services, led by Executive […]
Experts: "5 million international tourists" is an unattainable goal.
Trường Lăng
Trường Lăng, founder and 15-year director of Viettonkin, guides the company's strategic direction, makes top-level decisions, and represents the firm in key business negotiations. With over 20 years of consulting experience in Belgium and Southeast Asia, including 15 years specializing in FDI projects, he has established himself as a top expert who helps clients across industries expand their businesses. His deep knowledge of risk management and business operations, combined with his proven track record of successful consultation projects, makes him a valuable partner for investors seeking quality consulting services.
Travel industry analysts believe Vietnam won't be able to reach its goal of receiving five million foreign tourists this year, citing visa regulations as a major obstacle.
According to Nguyen Chau A, CEO of Oxalis Adventure, a firm that offers secluded cave excursions in the Quang Binh region in central Vietnam, it was difficult to meet the goal because Vietnam continues to have unfavorable visa regulations, few flights, and a dearth of tourism advertising efforts.
The aim becomes an even bigger problem, he said, given many of Vietnam's important tourist markets, like China, Japan, and South Korea, have not completely loosened their Covid prohibitions.
He continued, "I anticipate the country will be able to welcome roughly two million foreign tourists this year if the government lowers visa restrictions and international flights are completely returned to what they were before the pandemic.
With over 20 years of expertise in the tourism industry, Pham Ha, CEO of the Lux Group, also expressed doubt that the sector will be able to reach its goal.
It's challenging to attract the same number of foreign visitors after the pandemic, particularly since Vietnam's main tourist destinations have not yet fully resumed their operations.
The most crucial action we can take right now to improve international tourists' spending is to broaden the types of tourism experiences available, according to Ha.
He said, "Vietnam's tariffs are VND11,000 less than Laos' and VND3,000 less than Cambodia's." Gasoline would flood other nations if we weren't attentive when our prices were low.
According to Phoc, fuel taxes in Vietnam only make up about 30% of the price of gasoline, compared to 45–60% in other nations.
Increased capacity at domestic refineries Nghi Son and Dung Quat would be the more crucial answer. said Phoc.
With the Russia-Ukraine situation and increased global demand for materials and ingredients following two years of COVID-19, inflation has been a key concern for lawmakers and government leaders this year.
Less than 10% of the five million targets, or 365,000, foreign visitors in the first five months of this year.
In order to accomplish the goal, Vietnam will need to accept 650,000 foreign travelers each month for the remainder of the year.
This is quite challenging considering that Thailand, a tourist hotspot in Southeast Asia, has only averaged 200,000–300,000 visitors per month to date and anticipates up to 500,000 visitors per month for the remainder of the year.
To give the tourist sector a major boost, a number of insiders in the sector have suggested that the government increase tourism promotion efforts and loosen present visa regulations.
Ha suggested extending the present 15-day visa-free stay for visitors from Japan, South Korea, and Western European economies to 30 days as well as granting visa exemption to more visitors from Europe, Australia, New Zealand, North America, and India.
The goal of five million international visitors in 2022, according to Nguyen Son Thuy, vice chairman of the Quang Nam Tourism Association, may prove to be "extremely tough" for the sector.
At a seminar on June 1, Thuy suggested that the tourism sector create road shows to showcase Vietnam's tourist hotspots and attractions in significant markets or locations with fully restored tourism linkages with the nation.
Beginning on March 15, individuals of 24 nations can come to Vietnam without being subject to a quarantine, as was the case before the outbreak.
To tourists from other nations, the nation only offers a one-month single-entry e-visa; the three-month visas that were previously the norm are still not being issued.
Many foreign tourists have criticized the government's present regulations as being hostile and expressed the desire that the durations of tourist visas would be increased.
Prior to the pandemic, Vietnam welcomed a record 18 million foreign visitors in 2019.
Vietnam is emerging as a prime destination for foreign direct investment (FDI), driven by rapid economic growth, favorable government policies, and an investor-friendly business environment. This eBook provides a deep dive into Vietnam’s economic landscape, highlighting key industries such as manufacturing, real estate, and digital banking that attract FDI. It also explores the government’s proactive measures to streamline investment procedures, improve infrastructure, and offer tax incentives for foreign enterprises. Additionally, it covers crucial insights into market entry strategies, regulatory requirements, and socio-cultural factors that influence business success in Vietnam.
Download the eBook now to gain expert insights into successfully navigating Vietnam’s dynamic investment landscape!
Vietnam is emerging as a prime destination for foreign direct investment (FDI), driven by rapid economic growth, favorable government policies, and an investor-friendly business environment. This eBook provides a deep dive into Vietnam’s economic landscape, highlighting key industries such as manufacturing, real estate, and digital banking that attract FDI. It also explores the government’s proactive measures to streamline investment procedures, improve infrastructure, and offer tax incentives for foreign enterprises. Additionally, it covers crucial insights into market entry strategies, regulatory requirements, and socio-cultural factors that influence business success in Vietnam.
Download the eBook now to gain expert insights into successfully navigating Vietnam’s dynamic investment landscape!
Founded in 2009, Viettonkin Consulting is a multi-disciplinary group of consulting firms headquartered in Hanoi, Vietnam with offices in Ho Chi Minh City, Jakarta, Bangkok, Singapore, and Hong Kong and a strong presence through strategic alliances throughout Southeast Asia. Our firm’s guiding mission is aimed towards facilitating intra-ASEAN investments and connecting investors in Southeast Asia with the rest of the world, thus promoting international business relationships and strengthening inter-nation connections.