Vietnam Hospitality Market Size, Share, Trends | Forecast 2025-2033
Vietnam Hospitality Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Growth Rate: 12.20% (2025-2033)
The Vietnam hospitality market is experiencing rapid growth, driven by rising tourism, economic development, and increasing demand for high-quality accommodations and services. According to the latest report by IMARC Group, The Vietnam hospitality market size was valued at USD 7.0 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 20.7 Billion by 2033, exhibiting a CAGR of 12.20% during 2025-2033.
Vietnam Hospitality Industry Trends and Drivers:
Vietnam's hospitality sector is growing rapidly. This growth comes from more tourism, both international and domestic. It also results from smart government initiatives. A key trend is the rising demand for different types of accommodations. These range from luxury resorts to budget hotels and homestays, meeting various traveler needs. Increasing disposable incomes among Vietnamese people are boosting domestic tourism. More locals are exploring their own country and looking for quality leisure experiences. The government is also promoting tourism as a key economic driver. This focus has driven big investments in infrastructure. These include airports, roads, and tourist facilities. These improvements make it easier to access different destinations. Digital transformation is important too. Online travel agencies (OTAs) and mobile booking platforms simplify travel planning and expand market reach. There is also a growing focus on experiential tourism. Travelers want authentic cultural experiences and unique activities. As a result, many hotels and tour operators now offer specialized services. These include culinary tours, eco-tourism adventures, and cultural exchange programs.
Another key driver of Vietnam's hospitality market is the influx of foreign direct investment (FDI). This is especially true for high-end hotels and resorts. The country's strategic spot in Southeast Asia attracts international hotel chains and investors. Its political stability and friendly investment policies enhance this appeal. More international flights and visa exemptions for many countries also increase inbound tourism. Furthermore, the Meetings, Incentives, Conferences, and Exhibitions (MICE) sector is gaining traction. Vietnam is becoming a preferred destination for regional and international events. This trend increases the demand for large-scale accommodation and conference facilities. Sustainable tourism is gaining importance. Travelers and industry stakeholders are more aware of environmental and social responsibility. Many hospitality businesses are going green. They focus on energy efficiency, waste reduction, and supporting local communities. New tourist spots and active marketing by officials should help Vietnam's hospitality market grow in the coming years.
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Vietnam Hospitality Industry Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Chain Hotels
- Independent Hotels
Segment Insights:
- Service Apartments
- Budget and Economy Hotels
- Mid and Upper Mid Scale Hotels
- Luxury Hotels
Regional Insights:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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