NEW YORK, March 15, 2023 /PRNewswire/ — The hotel market size in Vietnam is estimated to grow by USD 2.12 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 14.43% during the forecast period. The growth of the market is driven by increasing affordability and rising disposable income. The income levels of consumers have increased significantly in developing countries such as Vietnam. For instance, between 2016 and 2020, Vietnam witnessed a 35.5% growth in per capita income. This has directly influenced the individual’s spending capability in Vietnam. In addition, the increasing working women population has created a financial boost in the overall income of people, enabling consumers to spend on recreational activities. All these factors are fostering the growth of the hotel market in Vietnam. For more insights on the market size (2022 to 2026) – Request a sample report
Technavio has announced its latest market research report titled Hotel Market in Vietnam
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Special coverage on the Russia-Ukraine war; inflation; recovery analysis from COVID-19; supply chain disruptions, trade tensions; and risk of recession
competitiveness and key competitor positions
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Hotel Market in Vietnam – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (chain hotels and independent hotels) and application (tourist accommodation and official business).
The market growth in the chain hotels segment will be significant during the forecast period. The increasing number of international tourists is a major factor driving the growth of the segment.
Hotel Market in Vietnam – Vendor Analysis
Some of the key vendors covered in the report include:
Accor SA – The company offers a wide range of hotel brands such as Luxury, Premium, Midscale, Economy, and others.
Central Plaza Hotel Public Co. Ltd. – The company offers a wide range of hotels such as Centara Mirage Resort Mui Ne.
Hyatt Hotels Corp. – The company offers sophisticated design, handcrafted details, and modern-day comforts at Park Hyatt Saigon.
InterContinental Hotels Group – The company offers a wide range of hotels such as Hotel Indigo, Crown Plaza, Holiday Inn, and others.
Get highlights on the market contribution of various segments and vendor offerings – Download a Sample Report
Hotel Market in Vietnam – Market Challenge
Major challenges hindering the market growth
Climate change and unexpected weather developments are challenging the growth of the market.
Events of natural disasters can pose a serious threat to the revenues of players in the tourism industry.
Tropical hurricanes, floods, and rising sea water severely deteriorate tourism infrastructure, resources, and buildings, especially in the Mekong River in Vietnam.
Also, drought and salinity intrusion in the delta area of the Mekong River in Vietnam has been affecting the livelihoods in the country.
These factors are having a direct effect on agriculture, biodiversity, human health, and the tourism industry in Vietnam.
Insights on market drivers, trends, & challenges and forecast period (2022 to 2026) – Request a sample report!
What are the key data covered in this hotel market in Vietnam report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the hotel market in Vietnam between 2022 and 2026
Precise estimation of the size of the hotel market in Vietnam and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the hotel market across Vietnam
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of hotel market vendors in Vietnam
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Related Reports:
The tourism and hotel market in Indonesia is expected to increase by USD 21.93 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 11.81%. The market is segmented by type of tourists (domestic and international) and hotel type (chain hotels and independent hotels).
The tourism and hotel market in China is expected to increase by USD 24.23 billion from 2021 to 2026 at a CAGR of 11.81%. The market is segmented by type (outbound tourism and inbound tourism) and product (chain hotels and independent hotels).
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Hotel Market in Vietnam Scope |
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Report Coverage |
Details |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.43% |
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Market growth 2022-2026 |
USD 2.12 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
13.44 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accor SA, Central Plaza Hotel Public Co. Ltd., Hyatt Hotels Corp., InterContinental Hotels Group, La Siesta Premium Hang Be, Marriott International Inc., Minor International PCL, Muong Thanh Hospitality, SALA DANANG BEACH HOTEL, and Vinpearl |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse through Technavio’s Consumer Discretionary Market Reports
Table of contents:
Executive Summary
Market Landscape
Market ecosystem
Value chain analysis
Market Sizing
Market definition
Market segment analysis
Market size 2021
Market outlook: Forecast for 2021 – 2026
Five Forces Analysis
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
Market Segmentation by Application
Market segments
Comparison by Application
Tourist accommodation – Market size and forecast 2021-2026
Official business – Market size and forecast 2021-2026
Market opportunity by Application
Market Segmentation by Type
Market segments
Comparison by Type
Chain hotels – Market size and forecast 2021-2026
Independent hotels – Market size and forecast 2021-2026
Market opportunity by Type
Customer landscape
Market drivers
Market challenges
Market trends
Vendor Landscape
Vendor Landscape
Landscape disruption
Vendor Analysis
Vendors covered
Market positioning of vendors
Accor SA
Central Plaza Hotel Public Co. Ltd.
Hyatt Hotels Corp.
InterContinental Hotels Group
La Siesta Premium Hang Be
Marriott International Inc.
Minor International PCL
Muong Thanh Hospitality
SALA DANANG BEACH HOTEL
Vinpearl
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
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Technavio is a leading technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
