News: Tourism to be Vietnam’s key economic sector by 2020
Posted by Lê Thủy on 13th November 2015
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Maintaining a steady growth in the number of international and domestic arrivals by 7.2 percent and 5.3 percent respectively, Vietnam’s tourism industry will reach the target for becoming a core economic sector by the year of 2020 if the global political and economic conditions remain stable.

In a recent meeting in Hanoi, Mr. Hoang Tuan Anh, Vietnam’s Minister of Cultures, Sports and Tourism officially revealed the country’s master plan on tourism strategy development. Accordingly, by the year of 2020, tourism will be the key economic sector of Vietnam, creating about 3 million jobs, attracting 10.5 million international arrivals and 48 million domestic visitors, and generating the total revenue of USD19 billion. In 2030, the overall revenue from tourism is targeted to be double the number of 2020.

tourism - the key economic sector

Earlier, in a report submitted to the National Assembly, tourism industry’s annual growth for the period 2011 – 2020 has been set to be between 11.5 and 12 percent. In 2015, Vietnam has the strategic goal of serving 7.5 million foreign arrivals and 37 million domestic tourists, creating 2.2 million jobs, and reaching the total revenue of USD11 billion that contributes about 6 percent to Gross Domestic Product (GDP).

According to Mr. Hoang Tuan Anh, Vietnam has been on the right track as the country attracted 5.7 million international visitors and 48.8 million domestic tourists just in the first nine months of 2015. At this rate, the 2020’s targets are forecasted to be soon achieved by the year of 2017.

tourism - the key economic sector

However, according to the National Assembly’s Verification Committee, the tourism sector still has to cope with many challenges such as weak and outdated infrastructure, lack of diversified offerings and quality services, deficiency of professional human resources, limited budget for tourism promotion and scientific research, the shortage of science and technology application compared to other countries in the region, unattractive and inefficient promotional campaigns, and so on.