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US$42.5 billion needed to develop tourism industry

The tourism industry needs US$42.5 billion for its development in the next ten years.

This was announced by the Ministry of Culture, Sports and Tourism at a working session with Deputy Prime Minister Nguyen Thien Nhan on a development strategy for Vietnamese tourism by 2020 with a vision for 2030 in Hanoi on December 14.

The strategy underscores the importance of improving product quality, competitiveness and trademarks.

In the new period, tourist operators should fully tap Vietnam’s tourism potential, including a long stretched coastline and a string of islands and grottoes, said the Deputy Prime Minister.

He asked tourism leaders to clarify the goal of inbound tourism, the ratio of foreign-to-domestic tourists and the task of training qualified staff to meet with international standards and requirements.

The Ministry of Culture, Sports and Tourism should complete its development strategy and submit it to the Prime Minister soon, he said.

Accordingly, Vietnam plans to receive 7-7.5 million foreign visitors and 35-37 domestic travelers and make up 5.5-6 percent of the country’s GDP in 2015.

There is high hope that tourism will become Vietnam’s spear-head industry by 2020.


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