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Tourism Advisory Board & Visa join forces to attract more visitors

Released at: 09:46, 24/12/2019

Tourism Advisory Board & Visa join forces to attract more visitors

Photo: Visa

Two partner to encourage more tourists to visit Vietnam and improve the traveling experience.

by Hung Cao

Visa, the world’s leader in digital payments, and the Vietnam Tourism Advisory Board (TAB) have signed an MoU on working together to encourage more tourists to visit Vietnam as well as improve the traveling experience while they’re here.

Vietnam is one of the top 10 fastest-growing tourism markets in the world, with the country posting over $27.4 billion in gross revenue from the industry in 2018 alone. Despite this, the industry faces some major challenges, such as underdeveloped infrastructure, human resources and skills issues, and strong competition from neighboring tourist destinations. While Vietnam has been rapidly expanding its acceptance of electronic payments, there are still many popular tourist establishments country-wide where travelers can only pay with cash.

“We’re very happy to be working with the TAB on this project to increase visitation to Vietnam and help bolster tourism revenue in the country,” said Ms. Dang Tuyet Dung, Visa Country Manager for Vietnam and Laos. “By sharing insights on international visitor spending behavior across their travel journey in Vietnam, we hope to assist the TAB in developing an even more targeted approach to growing the tourism industry.”

“In order for Vietnam to maximize tourist expenditure moving forward, it’s incredibly important that we have the right payment infrastructure in place, especially at frequently-visited locations such as hotels, restaurants, tour operators, or night markets. Optimizing the communications network of Visa’s global footprint to increase tourists’ awareness of the tourism services in Vietnam will help the TAB be more proactive in capturing inbound tourism flows.”

According to research conducted by Visa, more than 280 million households will be travelling internationally by 2025 and about two in five of these will be households in the Asia-Pacific region. Many tourists have healthy travel budgets to spend while they’re enjoying their holidays, but at the same time they don’t want to carry the necessary amount of local currency in order to do so.

“The TAB is a group of leading industry stakeholders committed to supporting the sustainable development of tourism in Vietnam, together with the Vietnam National Administration of Tourism (VNAT),” said Mr. Tran Trong Kien, Chairman of the TAB.

“Apart from providing advice to tourism-related policies, we work closely with local and international partners to help promote Vietnam through multiple platforms. We are very happy to work with Visa and be able to discuss their insights, computing power, and international best practices. The MoU is a good start and we look forward to a mutually-beneficial relationship for sustainable tourism growth in Vietnam.”

In working together to promote Vietnam’s major tourist drawcards, such as its countless scenic locales, culinary experiences, and historical and cultural sites, Visa will work to draw more inbound tourists through incentives for cardholders, such as offers on accommodation, privileged access to events, and special dining deals. Visa will also seek to provide tourism operators with data on national and international tourism spending, helping these businesses make more informed decisions about how they can increase their revenue from travelers.

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