While there have been concerns about discretionary spending challenges in Vietnam for 2024 and beyond, a new study from Agoda indicates that the desire for travel among Vietnamese tourists is anticipated to persist into 2025.
A recent study from Cimigo revealed that Vietnamese consumers are focusing on savings as their optimism wanes in the face of household economic uncertainty. The report highlighted a reduction in discretionary spend as consumers delayed or halted major purchases and shifted to value-based purchases.
Against this backdrop, digital travel platform Agoda’s latest study into Vietnamese travel trends, which was conducted in October 2024 and joined by 1,081 respondents from eleven markets including Vietnam, has shown that 90% of Vietnamese travelers are budgeting at least as much this year for travel as they spent in 2024.
Some 29% of respondents plan on increasing spend this year while 61% have set aside the same amount for their 2025 voyages as they spent last year.
“Despite financial constraints, Vietnamese travelers continue to prioritize meaningful experiences with family and friends over and above other discretionary spend,” said Lam Vu, country director of Agoda Vietnam.
“The desire to explore new destinations, both locally and internationally, reflects a growing demand for adventure and value-driven choices.”
About 86% of respondents reported that they planned on taking at least the same number of trips in 2025 as they did in 2024, with only 14% reporting that they are planning to take fewer trips in the year ahead.
Almost 40% of respondents revealed an intention to head abroad in the coming year as Vietnamese travelers continue to spread their wings to new and unexplored territories. And 94% of Vietnamese travelers said 2025 would be the year of the new frontier – with tourists who have outgrown visiting familiar places planning to head to some new destinations, either at home or abroad.
Mirroring Cimigo’s findings about a market seeking budget-friendly options, Vietnamese prove themselves astute value-hunters when it comes to accommodation choices.
Just over half, about 55%, of travelers said that their available budget was one of the primary drivers in their travel decision making, with 64% of respondents looking to spend under 250 USD per night for their total accommodation. Most travelers, about 88%, would prefer to stay in hotels while other respondents also expressed interest in luxury resorts or boutique accommodations.
Booking.com, another tourism service provider, has identified that for Generation Z, travel is an essential aspect of life. These modern-day travelers prioritize value for money by travelling during off-peak seasons and seek unique, once-in-a-lifetime experiences during their trips.
Booking.com found that in 2024, 62% of Vietnamese Gen Z were likely to take a short domestic trip and good value for money was an important destination factor for 52% of these Gen Z travelers.
When it comes to vacations and finances, 62% of Gen Z travelers opted to travel during off-peak season to save money.
About 63% looked for travel discounts through loyalty programs to save as much as possible.
Thinking about travel budget for 2024, 69% of Gen Z wanted to try one-of-a-kind destination experiences such as skydiving and hot air ballooning.
Source: VNA
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