Friday , July 19 2024

Number of Chinese visitors to Vietnam forecast to reach 4.5 million this year: HSBC


Vietnam could receive three to 4.5 million visitors from China this year, equivalent to 50%-80% of pre-pandemic levels, after the latter reopened its borders following a three-year strict Covid lockdown, HSBC said in its latest report.

“The increasing return of Chinese tourists following China’s border reopening on January 8 will notably contribute to the growth of Vietnam’s tourism, which can be a key sector for Vietnam in 2023, offsetting the decline in trading and manufacturing,” said HSBC experts.

HSBC also called on Vietnam to fix existing issues such as flight constraints and visa barriers so that the tourism industry could take off this year.

After Vietnam reopened tourism in March 2022, domestic tourism witnessed a strong recovery, surpassing pre-pandemic numbers. However, international tourism, which used to account for 60% of tourism revenue pre-Covid, remained sluggish due to visa issues.

Vietnam is now offering a visa exemption for nationals of 24 countries for stays of 15-30 days, except for Chileans, who are allowed 90 days, and a one-month single-entry e-visa for visitors from 80 other countries.

Vietnam last year received only 3.6 million foreign tourists, mainly South Koreans and Americans.

In 2019, the year before the onset of the pandemic, China was Vietnam’s biggest source of foreign arrivals with 5.5 million arrivals.

The Vietnamese aviation industry also resumed commercial flights to China after three years while tourist hotspots are also ready to welcome the return of Chinese tourists.

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