|Past 7 days||Avg. age||Avg. budget||Avg. booking window|
|Week before||Avg. age||Avg. budget||Avg. booking window|
Analysis period: 26-Apr-2023 to 3-May-2023
In this comparative analysis, we’ll explore the inbound travel trends to Vietnam based on the data from the past week and the previous seven days. This analysis will provide valuable insights into the changes in traveler behavior, budget, age, and booking window from key markets, such as Australia, China, France, Germany, India, Italy, Japan, Russia, Singapore, South Korea, Spain, UAE, UK, and the US.
Market Trends: Age, Budget, and Booking Window
There were some notable changes in the average age, budget, and booking window for most markets traveling to Vietnam. The Grand Total average age increased by 2 years, with the biggest increase seen in the UK market, with a 3-year increase. The Grand Total average budget also increased by $25, with increases in most markets, except for UAE, which had a $18 decrease. The booking window increased by 12 days.
Changes in Travel Trends: Australia, China, and France
Australia saw an increase of 2 years in the average age of travelers and a $7 increase in budget. The booking window also increased by 6 days. China had an increase in age and a significant increase in booking window, with a 16-day increase. However, the average budget decreased by $8. France had an increase in both age and budget, with a $21 increase, but the booking window increased by 13 days.
Germany, India, Italy, Japan, Russia, Singapore, South Korea, Spain, UAE, UK, and the US
Most of the markets saw an increase in age and budget, with some markets having significant changes. Germany had a $45 increase in budget and a 6-day increase in booking window. India had a slight decrease in budget and an increase in booking window. Italy had a decrease in budget and a 9-day increase in booking window. Japan had a $24 increase in budget and a 10-day increase in booking window. Russia had a $1 increase in budget and a significant 26-day increase in booking window. Singapore had a slight increase in budget and a 13-day increase in booking window. South Korea had no change in budget, but the booking window increased by 6 days. Spain had a slight decrease in budget and a 15-day increase in booking window. UAE had a $18 decrease in budget and a 10-day increase in booking window. Finally, the US had a $32 increase in budget and a 17-day increase in booking window.
Conclusion: Vietnam Inbound Travel Forecast and Tourism Trends
Based on the data from the past week and the previous seven days, we can see a general trend of increasing budgets and booking windows among key markets traveling to Vietnam. The changes in average age were not significant. However, it’s worth noting that these changes may be temporary and could be affected by various factors such as seasonal changes, economic situations, and other market trends.
To stay ahead of the competition and adapt to changing travel trends, hotels and resorts in Vietnam must stay informed and flexible in their marketing and revenue management strategies. By analyzing these travel market insights and using them to their advantage, businesses in the tourism industry can thrive and capitalize on the growing tourism boom in this beautiful destination.