While much has been made of some of the challenges to discretionary spending in Vietnam for 2024 and beyond, a new study from Agoda reveals that the demand for travel among Vietnamese people is expected to continue into 2025.
A recent study from Cimigo revealed that Vietnamese consumers are focusing on savings as their optimism wanes in the face of household economic uncertainty. The report highlighted a reduction in discretionary spend as consumers delayed or halted major purchases and shifted to value-based purchases[1].
Against this backdrop, digital travel platform Agoda’s latest study into Vietnamese travel trends has shown Vietnamese consumers are still keen to travel, with respondents placing a high value on precious time away with friends and family.
When it comes to holiday spend, the Agoda study found that 90% of Vietnamese travelers are budgeting at least as much next year for travel as they spent in 2024. 29% of respondents plan on increasing spend next year while 61% have set aside the same amount for their 2025 voyages as they spent this year.
Source: Internet
These findings are mirrored in the number of planned trips Vietnamese travelers are eyeing for the year ahead. 86% of respondents report that they plan on taking at least the same number of trips in 2025 as they did in 2024, with only 14% reporting that they are planning to take fewer trips in the year ahead.
Almost 40% of respondents indicated an intention to head abroad in the coming year as Vietnamese travelers continue to spread their wings to new and unexplored territories. And 94% of Vietnamese travelers said 2025 will be the year of the new frontier – with tourists who have outgrown visiting familiar places planning to head to some new destinations, either within Vietnam or internationally.
Mirroring Cimigo’s findings about a market seeking budget-friendly options, Vietnamese prove themselves astute value-hunters when it comes to accommodation choices.
Just over half (55%) of travelers report that their available budget is one of the primary drivers in their travel decision making, with 64% of survey respondents looking to spend under $250 per night for their total accommodation. Most travelers prefer to stay in hotels (88%) while 42% of respondents also expressed interest in luxury resorts or boutique accommodations (42%).
The interest in luxury resorts, combined with a relatively modest maximum spend indicate consumers on the lookout for the best deals they can find. This means travel platforms that deliver value-driven purchases have a key role to play in delivering on expectations.
“Despite financial constraints, Vietnamese travelers continue to prioritize meaningful experiences with family and friends over and above other discretionary spend,” said Lam Vu, Country Director of Agoda Vietnam. “The desire to explore new destinations, both locally and internationally, reflects a growing demand for adventure and value-driven choices. At Agoda, we’re thrilled to see this passion for travel thriving, and we’re committed to supporting Vietnamese travelers in finding the best deals and accommodations to make their journeys unforgettable,”
Vietnamese travelers can find great value deals for their 2025 travels on Agoda.com and in the Agoda app.
About the data
Agoda surveyed 1,081 respondents from eleven markets (Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam). The survey was conducted in October 2024.
About Agoda
Agoda, a digital travel platform, helps anyone see the world for less with its great value deals on a global network of 4.5M hotels and holiday properties worldwide, plus flights, activities, and more. Agoda.com and the Agoda mobile app are available in 39 languages and supported by 24/7 customer support.
Headquartered in Singapore, Agoda is part of Booking Holdings (Nasdaq: BKNG) and employs more than 7,000 staff in 27 markets, dedicated to leveraging best-in-class technology to make travel even easier.
[1] https://www.cimigo.com/wp-content/uploads/woocommerce_uploads/2024/10/Cimigo-Vietnam-Consumer-Trends-2024-njf3gf.pdf
