Cashless payment method is the top choice of most Vietnamese tourists.
Visa, the world's leading digital payments technology company, has just released its latest Green Shoots Radar Study – a quarterly report that focuses on consumer sentiment across financial services, trade, travel and more.
Data from the study shows that international travel among Vietnamese is increasing significantly, with 30% of Vietnamese respondents having traveled abroad for leisure or business purposes in the past year. This trend reflects the fact that demand for travel is rapidly returning across the Asia-Pacific region, with 37% of respondents reporting that they have traveled abroad during this time.
Notably, for Vietnamese tourists, South Korea emerged as the top leisure destination on the international tourism map, accounting for 24% of respondents visiting in the past year, followed by mainland China (17%) and Japan (16%). For business purposes, Australia topped the list with 19% of respondents choosing it, followed by mainland China, Thailand and South Korea - all three countries with a choice of 16%.
Of these, 40% of Vietnamese travelers tend to book air tickets directly from airline websites. Notably, 29% of users choose to pay for accommodation via credit card, the second most popular method after payment via e-wallet (49%). This consumer preference is recorded uniformly across the Asia-Pacific region, where consumers are prioritizing booking air tickets directly through airline websites as well as booking accommodation and paying in advance by credit card.
Ms. Dang Tuyet Dung, Visa Country Manager for Vietnam and Laos, said: “The growing trend of outbound travel in both Vietnam and the region also means that brands have significantly increased opportunities to reach and engage with consumers throughout their journey of discovery. With a series of seamless payment experiences, from searching for travel destinations to booking accommodation and activities, businesses can increase customer engagement. At the same time, digital payment methods such as credit or debit cards on travel apps can also make the payment process more convenient and secure.
Looking ahead, the tourism industry still has plenty of room for growth, with 41% of Vietnamese consumers planning leisure travel in the next 6 months. The top three destinations for the next 12 months are Australia and mainland China (both at 18%) and South Korea (17%). For business travel, the most promising destinations are mainland China (15%), South Korea and Australia (both at 14%), and Japan (12%).
According to Visa’s Global Travel Trends 2023 Study, cashless payment is the top choice for most Vietnamese travelers, with 92% choosing credit cards and 87% choosing debit cards to optimize their travel experience. Notably, digital payments are also becoming more popular among Vietnamese travelers, as data from Visa’s latest Consumer Payment Attitudes Study shows that travel bookings and overseas spending during the trip are most often made via e-banking (33%), online payments (debit and credit cards, 22%), and contactless cards at service agents (21%).
Data from Visa’s latest Brand Health Survey shows that more than half (52%) of Vietnamese consumers now rate Visa as the best payment method for purchases on international trips. Visa cards are also increasingly popular among Vietnamese travelers, with VisaNet data showing a significant year-on-year increase in total cross-border transaction value in Q4 2023.
Source
Comment (0)