Business

Travel companies see positive outlook but challenges lie ahead

Experts have forecast a positive outlook for travel stocks after two years of being battered by the COVID-19 pandemic. However, Vietnamese tourism businesses still have to face many difficulties and challenges.
Travel companies see positive outlook but challenges lie ahead ảnh 1Trang An scenic landscape complex in the northern province of Ninh Binh. After three years of stagnation due to the COVID-19 pandemic, Vietnam's tourism industry is accelerating its recovery. (Photo: VNA)
 

Hanoi (VNS/VNA) – Experts have forecast a positiveoutlook for travel stocks after two years of being battered by the COVID-19pandemic. However, Vietnamese tourism businesses still have to face manydifficulties and challenges.

According to the GeneralStatistics Office, in the first five months of this year, the number ofinternational visitors to Vietnam was estimated at nearly 4.6 million, 12.6times higher than the same period last year.

With the overall positivedevelopments of the industry, a series of travel companies on the stock marketannounced very positive profit growth in the first quarter of 2023.

Statistics from Nhadautu.vn showed that most travelbusinesses have achieved an increase in revenue in the first quarter of 2023compared to the same period last year.

In terms of net profit, thedata shows that 7 out of 11 companies reported increased net profit.

Experts say that in thecontext of slowing spending demand, foreign tourists tend to look to Vietnamand Thailand - countries with low costs but still ensure tourismexperiences. In addition, the arrival of more tourists from China after thecountry reopens will contribute to boosting the tourism and service industriesin Southeast Asian countries, including Vietnam.

However, Vietnam's tourism industrywill face some challenges. Deputy Director General of the Vietnam NationalAdministration of Tourism Ha Van Sieu listed them as inflationary, exchangerates, rising interest rates, climate change, natural disasters that continueto develop abnormally and that the visa policy of Vietnam does not have manyadvantages compared to other countries in the region.

Nguyen Quoc Ky, Chairmanof the Board of Directors of Vietravel Group, said that Vietnam's tourism stillhas some problems with visa policies, VAT policies, and promotion of foreigntourism offices.

Ky also pointed out otherobstacles, such as transportation and aviation problems as well as the lack ofadvertisements for festivals and events in the country./.

VNA
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