According to Bloomberg , BCG 's report is based on a survey of nearly 5,000 travelers. BCG estimates that annual spending on travel by global people will triple, from $5,000 today to $15,000 by 2040. This will help tourism grow faster than the pharmaceutical and fashion industries.
BCG 's report highlights that emerging markets in particular such as China, India, Saudi Arabia and Vietnam are rapidly surpassing traditional tourism powerhouses such as the US, UK and Germany.
These emerging markets are expected to contribute the most to global tourism growth. This is because rising incomes and more direct flights connecting destinations will boost the desire of people in these emerging markets to travel domestically and internationally.
The rise of the middle class in emerging markets is creating a new generation of travelers who are more focused on experiences than on budgets, said Lara Koslow, senior partner at BCG. These travelers, often millennials and Gen Z, prioritize meaningful, personalized trips that immerse them in new cultures and environments.
The new generation of travelers are more likely to invest in premium experiences such as luxury vacations, adventure travel, eco-tourism and wellness resorts.
However, the World Travel and Tourism Council (WTTC) warns that BCG's forecasts do not take into account current risks such as trade wars, geopolitical conflicts, climate change, etc. Because the above factors can disrupt travel by plane and ship across large areas such as the Middle East, Southeast Asia, etc.
Bloomberg said Vietnam is emerging as the third most visited country in Southeast Asia with 17.5 million international visitors last year - surpassing Singapore, behind Malaysia with 25 million visitors and Thailand with 35 million visitors.
Experts say that the increasing number of direct flights from other countries to Vietnam is the leading factor helping Vietnamese tourism take off.
Typically, on July 1, Vietnam Airlines launched a direct flight from Hanoi to Milan, which is also the first direct flight between Vietnam and Italy. On the same day, Vietjet launched a direct flight connecting Hanoi with Chengdu, Sichuan Province, China.
From 2023, Vietnam will introduce a new e-visa policy, allowing visitors to stay for up to 90 days - 3 times the previous limit, visa exemption for visitors from 16 countries including France, Germany, Italy, Japan, Russia, South Korea, Spain... This is considered a factor to stimulate international tourists to the S-shaped land.
This year, Vietnam's tourism industry expects to welcome 23 million international visitors. By March 2026, when Long Thanh International Airport comes into operation, Vietnam expects the number of international visitors in 1 year to reach 25 million people....
Source: https://baohatinh.vn/viet-nam-la-thi-truong-du-lich-tiem-nang-hang-dau-the-gioi-post291099.html
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