Vietnam is the second most-spending destination for Korean tourists in Asia.

Korean tourists' spending in Vietnam ranks second in the Asia-Pacific region after Japan and above Thailand, Australia and Guam, according to Visa.

According to a report released in late September by Visa, the world's leading digital payment company, among the top five destinations where Korean tourists spent the most in Asia-Pacific in the first half of this year, Japan ranked first, accounting for 48% of total spending by Korean tourists. Vietnam ranked second, with 16%, followed by Thailand, Australia (both accounting for 6%) and Guam (3%).

Korean tourists’ spending on accommodation in Vietnam in the first 6 months of the year increased by 60% compared to the same period last year, accounting for 21% of total trip expenses. This shows the attractiveness of Vietnam to Korean tourists’ vacation needs.

Spending on necessities accounted for 21% and on food and drink accounted for 17%. At many popular tourist destinations in Vietnam, Korean visitors using electronic payments increased from 15% to 33% compared to the same period last year.

Da Nang, Ho Chi Minh City and Hanoi are the top three destinations for Korean tourists, accounting for 25%, 15% and 10% respectively. Destinations such as Nha Trang, Da Lat and Phu Quoc recorded breakthrough spending, with increases of 90%, 150% and 160% respectively compared to the same period last year.

Visa also said that Vietnam is the second most popular destination for Korean tourists, after Japan and equal to Australia, and the most popular foreign destination for Korean tourists this summer.

In addition to strong spending, South Korea is also the largest market sending visitors to Vietnam in the first eight months of the year, with more than three million arrivals and accounting for 26% of the international visitor market share, according to the General Statistics Office.

Visa points out that Vietnam is a destination with long-term appeal to Korean tourists, clearly demonstrated by the increase in spending on accommodation. The rise of tourist cities such as Nha Trang, Da Lat, Phu Quoc, and the increasing trend of electronic payments, signal a promising future for the Vietnamese tourism and travel industry.

To attract high-spending, long-stay tourists, Vietnam is promoting high-end tourism, improving high-quality services, increasing the number of 4-5 star hotels and luxury shopping centers, entertainment venues, and event venues.

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