Hanoi Hotel Marketview 2018
- The number of international tourist arrivals to Vietnam in 2018 reached 15.5 million, an increase of 19.9% y-o-y - among the highest in Asia. The government also extended its visa exemption policy for five European countries for another 3 years, in an effort to diversify foreign source markets. On the other hand, the number of domestic tourists in 2018 was recorded at 80 million, showing a moderate increase of 9%.
- Vietnam’s hotel sector has greatly benefited from such positive developments in the tourism industry. Significant pipelines of hotels under construction across major destinations will present new options to tourists, while posing competition concerns to existing hotels. Many top tier brands such as Four Seasons, Mandarin Oriental and Ritz-Carlton are expected to debut in Vietnam’s two biggest cities of Hanoi and HCMC in the coming years.