Ho Chi Minh City: Tourism service credit increased by 10%

According to statistics, outstanding loans for the tourism service sector in Ho Chi Minh City, as of the end of February this year, reached nearly VND57,000 billion, a growth of 10% - much higher than the credit level of the whole area, which decreased by 0.17%.

Tourists returning to Ho Chi Minh City are at their highest in the past 7 years, creating opportunities for banks to provide credit capital services, payments, foreign currency exchange, etc. - Photo: Dinh Hai

Mr. Nguyen Duc Lenh said that the growth of tourism service credit contributes to promoting tourism development, creating a strong recovery of the tourism industry after the Covid-19 pandemic.

In fact, tourism services in Ho Chi Minh City have grown in the past two years and will continue to grow in the first months of 2025. Contributing to the growth of the tourism industry is the active support of the banking system through the provision of a variety of services such as payment, foreign currency exchange, etc. with many utilities.

In addition, the State Bank's flexible monetary policy, low interest rates, and stable exchange rates have created conditions for households and businesses to reduce financial costs in their operations.

The representative of the State Bank of Vietnam, Region 2, expects that tourism and service activities in the area will grow, with many cultural and artistic events and activities organized to celebrate the country's major holidays. Especially this year, Ho Chi Minh City celebrates the 50th anniversary of the country's reunification, which will attract a large number of visitors and tourists this April. These factors will create conditions for banks to increase credit growth and expand banking and financial services in the field of tourism, accommodation and catering services. From there, businesses will operate effectively, create cash flow, and contribute to expanding credit growth of credit institutions in the area.

The Ho Chi Minh City Banking Industry is coordinating with the Department of Tourism and the City Business Association to inform and disseminate monetary and banking policies to travel businesses and tourists, and to handle and directly remove difficulties for businesses to promote tourism growth and development.

According to the Ho Chi Minh City Statistics Office, the city's economy in the first 3 months of 2025, the service industry grew the highest in the past 7 years, reaching 8.72%, in which the development of tourism activities has created conditions for the expansion of travel, accommodation, and food services.

The City Business Association assessed that some sectors have recovered, leading to an increase in demand for loans to expand business. The survey results of this organization showed that food service businesses recorded growth of over 8%, and retail sales of supermarkets increased by more than 10%.

Source: https://thoibaonganhang.vn/tp-ho-chi-minh-tin-dung-dich-vu-du-lich-tang-10-162213.html