Da Nang's Ba Na Hills is one of the favorite tourist destinations. Photo: Vietravel

In its Vietnam Travel Landscape 2024 report released on Wednesday, the firm said that in 2023, Vietnam’s tourism showcased a compelling narrative of triumphs and challenges. Exceeding its initial target of 8 million foreign visitors, the country welcomed over 12.59 million tourists, highlighting a commendable recovery despite trailing regional peers. The global economy’s uncertainties impact travel spending to some extent, yet the tourism industry is resilient, witnessing a worldwide resurgence.

Southeast Asian countries like Singapore, Indonesia, and Vietnam lead the tourism resurgence. China’s slower economic recovery affects outbound travel, urging Southeast Asian nations to explore new markets. Vietnam’s international source markets display a diverse mix, primarily from East Asia. In 2024, cultivating existing markets, especially South Korea, Thailand, and Taiwan, is crucial. India emerges as an opportunity, reflecting a potential shift in the long-term tourism landscape.

According to this report, Vietnam's aviation industry has recovered impressively after relaxing travel restrictions due to the COVID-19 epidemic at home and abroad. Vietnam has quickly become the fastest recovering domestic aviation market in the world and is expected to be the 5th fastest growing aviation market globally by 2035, it said.