German newswire Finanzen.net has published an article on Vietnam’s economic achievements despite COVID-19 and explaining reasons behind the nation’s tourism growth.
Illustrative photo (Source: VNA)
Berlin (VNA) - German newswire Finanzen.net has published an article on Vietnam’s economic achievements despite COVID-19 and explaining reasons behind the nation’s tourism growth.
The article said Vietnam has strongly emerged from the COVID-19 pandemic. With a population of 95 million, the nation was still able to contain the pandemic earlier than many developed countries, and only a few deaths have been recorded so far.
It cited an analysis from James Johnstone, an expert from RWC Partners, that in 2020, although travel restrictions and border closures severely impacted the tourism industry, Vietnam showed a faster recovery than other countries in the region. The outcome was attributable to the number of domestic visitors, which is forecast to continue supporting the growth of the local tourism.
In 2007, tourism contributed just 4.5 percent to Vietnam's GDP. By 2019, the proportion increased to 12.5 percent. This was due to a large number of foreign investors focusing their capital on the sector, apart from heavy industries and urban development.
According to Johnstone, the improved airport infrastructure system has paved the way for the Vietnamese aviation market's development. Aviation infrastructure is key to the successful expansion of local airlines and an ongoing promotion of tourism growth. In addition to its two important airports, Tan Son Nhat and Noi Bai, Vietnam is building Long Thanh International Airport in Dong Nai, near Ho Chi Minh City, which is expected to become operational in 2026.
Johnstone said the upgraded infrastructure has helped shorten travel time, thereby helping visitors gain more experience.
The development of low-cost airlines has also contributed to accelerating the growth of domestic and international tourism in Vietnam, the expert added./.