Vietnam: young people spending more for travelling

11-08-23

Specifically, one out of three millennial and Gen Z travelers in the region are willing to spend more than US$2,000 on their next holiday, more than double Asia’s average monthly income.

Nearly half of millennial and Gen Z travelers in APAC including Vietnan Young people spending more for travelling plan to spend double their average monthly income on travel, according to a new travel pulse survey by Klook about 2023 travel trends in APAC in general and in Việt Nam in particular.

Specifically, one out of three millennial and Gen Z travelers in APAC are willing to spend more than US$2,000 on their next holiday, more than double Asia’s average monthly income, Klook reported.

In its study, Klook found that a majority of Vietnamese travelers, equivalent to 36 per cent, want to spend between $1,000 and $2,000 on their next holiday.

The study also found that experiences are the first consideration factor, trumping flights and accommodation. About 71 per cent of Vietnamese travelers are willing to invest in experiences. 

Of the experiences, nature and the outdoors are the most sought at 71 per cent, followed by cultural experiences at 61 per cent and water activities at 53 per cent.

Another finding showed that 54 per cent of millennials and Gen Z travelers in APAC turn to social media to find inspiration and plan their holidays.

About 69 per cent of Vietnamese travelers (also the highest number in APAC) use social media platforms for holiday inspiration and planning.

Their most-frequently used platforms are Facebook, TikTok, and Instagram.

Breaking with tradition, APAC travelers are now more spontaneous and prefer short-haul travel as only 31 per cent plan their holidays one month in advance.

Vietnamese travelers are also spontaneous as about 68 per cent book experiences right before they fly.

More than half of Vietnamese travelers want to travel only domestically, and one-third want to travel within the region.

According to Klook’s database, Vietnam's most booked destinations in the first half of the year were Thailand, Singapore and Japan.

Overall outbound demand in the first half of this year increased by 11 per cent over the same period of 2019, whilst average tourism spending increased by 40 per cent.

Top inbound markets were South Korea, Singapore and India.

Overall inbound demand increased by 80 per cent, Klook said. — VNS