Vietnam Eyes Global Luxury Tourism and MICE Market

Vietnam's tourism sector is setting ambitious targets for 2026, aiming to welcome 25 million foreign visitors, facilitate 150 million domestic trips, and generate a total revenue of VND1,125 trillion (approximately $43 billion). This push is underpinned by significant growth in luxury tourism and MICE (Meetings, Incentives, Conferences, and Exhibitions) sector development. Phu Quoc Island is emerging as a prime destination, attracting travelers from Asia to Europe with its seaside appeal. The island benefits from a 45-day visa exemption for Russian citizens, encouraging extended winter escapes. Phu Quoc aims to transition from a largely seasonal resort to a year-round tourism hub. The focus for MICE development here, and across Vietnam, is on enhancing the value and competitiveness of each event and destination, rather than solely increasing event numbers. Da Nang City continues to draw visitors with its blend of beach relaxation, nature exploration, local cuisine, and cultural experiences, catering to both leisure and activity-focused travelers. The city targets nearly 93,000 MICE visitors in 2026, strengthening links with corporations and event organizers while diversifying promotional activities. In line with Politburo Resolution No. 26-NQ/TW, Vietnam is developing key tourism growth poles in Hanoi, Ho Chi Minh City, and Da Nang, with Phu Quoc slated to become a new pole. The development of MICE tourism is also a strategic cooperation pillar between Vietnam and the US, moving towards tangible projects. In the luxury hospitality segment, Vietnamese landmarks such as Capella Hanoi, Hotel de la Coupole – MGallery, and InterContinental Danang Sun Peninsula Resort have received international acclaim, including Michelin Key selections. This highlights Vietnam's growing reputation for high-quality hospitality experiences. Furthermore, promotional efforts extend to regional markets. The Vietnamese Embassy in Bulgaria, in coordination with the Vietnam Cultural & Tourism Association in Europe (VNCT), organized a national booth, offering Vietnamese firms opportunities to introduce services and seek partners in Bulgaria and neighboring Balkan countries, expanding Vietnam's international market reach. Source: VietnamPlus English