Visa study shed lights on Vietnam travel trends

The Global Intentions Study 2023 surveys more than 40,000 consumers globally across 37 markets on their recent travel in the past 12 months and intention to travel in the next 12 months. The study fieldwork was conducted from April 2023 to June 2023.

Vietnam, a country of vibrant landscapes and rich cultural heritage, has become a favoured destination for travellers from across the globe. As the world transitions into a new era of post-pandemic exploration, understanding the changing trends in the Vietnamese travel landscape is crucial for travellers and industry stakeholders.

“For more than a decade, the Global Travel Intentions Study has equipped Visa and its partners, in Vietnam and worldwide, with unparalleled insights on the travel and payment landscape. This invaluable knowledge allows operators in the industry to plan and execute effective strategies to satisfy consumer demands and grow their businesses, and reinforces Visa’s commitment to creating a cashless society,” said Dung Dang, Visa's country manager for Vietnam and Laos.

The GTI 2023 revealed an ongoing trend in the Vietnamese travel industry, which saw the rise of Gen Z and families with kids as significant contributors to the travel boom. In terms of leisure trips, families travelling with kids and "Silvers" (travellers aged 60 years old and above) made the most trips – averaging 2.4 leisure trips – in the past 12 months.

Gone are the days when travel was solely about ticking off landmarks from a checklist. Vietnamese travellers are now placing a strong emphasis on leisure-focused and experiential journeys. Relaxation was the main driver for travel at 68 per cent, followed by shopping 43 per cent and exploration or trying something new 43 per cent.

As the country blossoms into a playground for adventure seekers and culture enthusiasts, tourists are opting for personalised experiences that enable them to immerse themselves in local customs, traditions, and cuisine.

As environmental awareness takes centre stage, Vietnamese travellers demonstrate a remarkable interest and action in sustainable travel. Nearly 75 per cent of people said they were either interested or very interested in sustainable travel options, while half had actively looked for these options when planning their travels.

With an increasing number of travellers seeking eco-conscious options, the industry is witnessing a shift towards greener travel practices, supporting local communities and preserving natural resources.

With a growing middle class and increasing disposable income, these demographics are embarking on more domestic and international trips, seeking unforgettable experiences and bonding opportunities. Almost 1 in 5 mentioned visiting friends or family as a key motivation for travel in the next year.

As consumer spending power rises, travellers would appear to view shopping as an integral part of their travel experience, seeking unique souvenirs and indulging in retail therapy to enrich their journey.

Strong recovery

Amid the global recovery from COVID-19, Vietnam's tourism sector is rebounding. Domestic tourism has been pivotal, with locals exploring their own country, bolstering local businesses and jobs.

In a rapidly evolving digital landscape, security and acceptance are crucial in shaping Vietnamese travellers' payment preferences. The study highlights that travellers seek seamless transactions and robust security measures, emphasising the importance of trust in financial transactions while exploring new horizons.

The digital revolution is transforming how we pay, and Vietnamese travellers have embraced the convenience of credit/debit/pre-paid cards.

Almost all Vietnamese respondents in the GTI 2023 indicated that they intended to use these cashless payment options (92 per cent credit cards and 87 per cent debit cards) during their journeys, streamlining transactions and enhancing the overall travel experience.

With 64 per cent of Vietnamese respondents saying they brought their digital wallets for travel, the ease of use, security, and wide acceptability is drawing travellers to embrace this innovative payment method. The growing popularity of digital wallets signals a shift towards a more tech-driven and connected payment ecosystem.

“We are entering a new era for the travel industry in Vietnam, and the role of digital payments will advance side by side with the industry as customers demand more efficient and secure payment services. Adapting swiftly, hotels, restaurants, and tour operators must cater to evolving traveller needs, supported by the growing use of cashless payment methods for added convenience,” said Dung, Visa country manager for Vietnam and Laos.

Visa and Vietnam Airlines enhance digital experience for consumers Vietnam Airlines plans to leverage Visa’s expertise to launch a unique, co-branded product to boost its digital capabilities and improve the customer experience.

Visa expands digital payment acceptance for electricity bills in Vietnam Visa, a world leader in digital payments, announced on July 21 that electricity consumers will now be able to enjoy the convenience and security of paying their energy bills with their Visa cards.

Visa brings Apple Pay to Vietnamese cardholders Visa, a world leader in digital payments, has brought its cardholders Apple Pay, a safer, more secure, and private way to pay that helps them avoid handing their payment card to someone else, touching physical buttons, or exchanging cash – and uses the power of iPhone to protect every transaction.