Analysis Of The Vietnamese Tourism Market

Analysis Of The Vietnamese Tourism Market My friend and I have passion in tourism. My friend has several years of experience working for an international travel company in Ho Chi Minh City as a travel consultant cum tour operator. She have strong relationship with five star hotels and restaurants in Vietnam. I have chance to travel to many countries and study international tourism industry. I also have a part-time job as a tour guide for some travel companies. I understand what tourists expect from a knowledgeabe and friendly tour guide , quality service as well. Thus, combining her experience in Vietnamese tourism market and my understanding about international tourists’ demands, we decide to open a travel company, named â€Å"Luxury Tour Co.† in Ho Chi Minh City. Our target market is Spain. Within the next five year, we build â€Å"Luxury Tour† as the first choice for the Spaniard when they think of travelling to Vietnam. This name guarantees for â€Å"best service,best choice† as our slogan of â€Å"Think nothing, let us†. This marketing plan is designed to highlight significant steps and other related issues to run business well and meet the goal. Market Overview Tourism is considered as the key industry in the near future. Tourism involves three sectors, they are, domestic market, inbound market and outbound market (Helmut Wachwiak, 2006:48). Domestic tourism aims to local customers, while inbound tourism aims to attract international tourists to the country and outbound tourism aims to organising tour for local tourists who want to travel abroad. Among of which, inbound tourism is emphasized most. It not only creates more employment opportunities for the local people but also plays an important role to attract foreign investment in Vietnam as MICE tours becomes popular. Tourism is based on a lot of factors. Here is the list of some changes influencing tourism in general and Luxury Tour business activities ( Lloyd E. Hudman, Richard H.Jackson, 2003:24) Infrastru cture in Vietnam . Understanding the contribute of the non-smoke industry, Vietnamese Government has invested in some projects, such as building metro, road etc. , and encouraged people take part in introducing beautiful image of Vietnam to the world ( Vietnam Tourism, 2010 ) Social behavior. For example, considering the tour price, it depends on the suppliers’quotation. They are five star hotels, restaurants, transportation etc. In peak seasons when several tourists come to Vietnam, lack of commodation or waiters/waitresses is predictable. As the result, the tour price is higher, but tourists are served less. Increased gas/petrol price. That is to say, it leads to the increase of price in transportation, flight ticket etc. The rapid development of Internet and e-commerce. According to the CIA Factbook, in 2009, 50% of Spaniard use internet, and this number is increasing repidly. It push e-commerce developped more Stable VND-Euro currency rate makes tour price stable and more competitive than other markets ( Vietnam Central Bank, 2010) Stable politics makes international tourists feel safety while staying in Vietnam New tourism trend. According to ITB World Travel Trends Report 2010/2011, Southeast Asia is sparkling as an ideal destination to EU market. They prefer enjoying â€Å"sun and beach† and discovering Eastern culture