Korean visitors increase spending in Vietnam: Visa

Vietnam continues to be a top Asian destination for travellers from the Republic of Korea (RoK), with emerging cities witnessing impressive spending growth, according to the latest analysis from Visa, the world leader in digital payments.

Visa’s Green Shoots Radar survey showed that travel among Koreans has revived over the past year, with 37% for leisure or work, up from 23% the previous year. The survey ranked Vietnam as the second most visited destination by Korean visitors, trailing Japan (54%) and tied with Australia (16%).

The Vietnam National Authority of Tourism said Vietnam welcomed more than 11.4 million foreign arrivals during January – August, a year-on-year increase of 46%. The RoK continued to be Vietnam’s largest source market of tourists with more than 3 million travellers over the eight-month span.

In Vietnam, Korean tourists' spending on accommodation surged to 21% of total expenditure in the first half of 2024, representing a jump of over 60% from the previous year. This solidifies Vietnam's reputation as a popular destination for resort stays.

Notably, Vietnam ranked first among the most favourable foreign destinations for Korean visitors during the summer holiday season of 2024, forming 13.7% of inbound tourists.

Spending on dining, the top category in the first half of 2024, accounted for 17% of total expenditure, highlighting Vietnam's renown for culinary tourism. Visa has enhanced Vietnam's booming culinary scene by offering seamless digital payments through its partnership with The MICHELIN Guide in the past two years, providing diners and restaurant owners with top-notch dining experiences.

Despite a slight dip from the previous year, Da Nang, Ho Chi Minh City and Hanoi remained at the top of the spending list, with approximately 25%, 15%, and 10% of total expenditure, respectively. Emerging hotspots like Nha Trang, Da Lat and Phu Quoc saw substantial spending growth, up by approximately 90%, 150%, and 160%, respectively.

Visa's analysis underscores the enduring allure of Vietnam for Korean travellers, with a marked shift towards accommodation spending. The rise of cities like Nha Trang, Da Lat, and Phu Quoc, coupled with the growing trend of contactless payments, signifies a promising future for Vietnam’s travel and tourism industry.

According to businesses, to attract high-spending, long-term tourists, Vietnam is enhancing its premium tourism sector by improving high-quality services and increasing the number of 4 and 5-star hotels, luxury shopping malls, recreational spots, and event venues. An example of this strategy is the RoK's Lotte Duty Free, whose expansion in Vietnam led to a 351% sales surge in 2023, with Korean tourists making up about 60% of the sales./.

VNA