Vietnam’s travel and tourism industry currently contributes 12.4 percent of Vietnam’s Gross Domestic Product (GDP). Real GDP growth for the travel and tourism economy is expected to average 7.3 per annum over the coming 10 years.
By these measures, travel and tourism is a significant contributor to the Vietnam economy. However, its real impact is even greater, as travel and tourism touches nearly all sectors of the national economy and contributes to nearly one out of every ten jobs nationwide.
However, if Visa cardholder spend is used as a measure, VNAT’s program is already having a material impact on Vietnam’s economy with double digit increases on year on year Visa cardholder spend.
Visa is committed to providing its partners in the tourism industry, in Vietnam and globally, with current and accurate spending information and related insights that support their efforts to grow tourism arrivals and revenues.
Today’s international travelers are embracing digital currency over paper money, whether they are settling a bill at a hotel or restaurant or reaching in their pockets at the beach or at the shops. Visa will continue to work with our tourism industry partners and financial institution and merchant clients to ensure that travelers can make purchases conveniently and securely anywhere in the world.
As the world’s largest retail electronic payments network, Visa brings a compelling perspective on national and international tourism spending trends.
Turning Visa transaction data into actionable information is one of the ways Visa delivers value to businesses and countries, such as Vietnam, that rely on tourism revenues.
This information enables public and private entities to improve their product offerings and marketing strategies to ensure that they have the right tools and business models to attract a sustainable flow of visitors.