Ho Chi Minh City targets $7.5 billion in tourism revenue by 2020

Published on : Monday, June 19, 2017

Ho Chi Minh CityThe tourism sector of Ho Chi Minh City is expecting VND170 trillion (USD7.5 billion) in annual revenue by 2020.

Media reported that annual tourism revenue will account for more than 11% of the city’s total gross domestic product.

The city is plans to develop tourism into a major economic driver exceeding other industries over the next five years. This year, the tourism sector should achieve revenue of VND120 trillion (USD5.3 billion), a 16.5% rise over the previous year and well above the earlier-set goal of VND116 trillion (USD5.1 billion).

To achieve the target, the municipal government will develop agro-tourism, a oriental medicine quarter, walking streets, music roads and weekend markets.

The local government is investing heavily in upgrading access to Tan Son Nhat International Airport, and building new overpasses, tunnels and metro lines to ease congestion.

The city intends to improve the quality of water-based tourism on the current routes of Binh Quoi and Nhieu Loc-Thi Nghe, and develop new ones on various rivers and canals on the outskirts of the city.

The city offers an estimated 2,100 hotels and other lodging facilities with about 49,000 rooms, which are enough to accommodate more than 7.5 million international visitors a year.

Ho Chi Minh City welcomed more than 5.2 million foreign tourists in 2016, a rise of 10% against 2015, and served 21.8 million domestic visitors, up 10% year-on-year.

There are 1,200 enterprises active in the tourism sector in the city, with nearly 5,000 tour guides.

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