Tourism wins big, consumer benefits

Not only does it help the tourism industry bring in huge revenue, tourism during the September 2nd holiday also stimulates domestic consumption thanks to the sharp increase in demand for eating, shopping, traveling, etc.

MANY LOCATIONS POCKET TRILLIONS IN A FEW DAYS

This year's National Day holiday on September 2 witnessed an unprecedented boom in domestic tourism . In just 4 days (August 30 - September 2), Hanoi welcomed about 2.08 million visitors, with tourism revenue reaching approximately VND4,500 billion, up 80% over the same period last year. Ho Chi Minh City also recorded nearly 1.45 million visitors with estimated revenue of VND4,140 billion, double that of the 2024 holiday.

Not only the two largest cities in the country, the capital of the Central region also shows its never-ending attraction. In just 4 days of the holiday, Da Nang welcomed 620,000 visitors, up 24% over the same period, earning more than 2,200 billion VND. Khanh Hoa recorded more than 900,000 visitors, bringing in nearly 936 billion VND. Hue welcomed about 196,000 visitors, with revenue of nearly 310 billion VND, up more than 134%...

The above figures not only show the strong appeal of the destinations but also that long holidays are becoming a "meeting place" for people across the country. In many cities, the occupancy rate of 4-5 star hotels is over 80%, many places are fully booked. Airlines recorded a 20-25% increase in passenger volume compared to normal days. Tan Son Nhat airport alone receives an average of 125,000 passengers/day during the peak holiday season.

As a comprehensive economic sector, tourism has been a big winner, leading to a sharp increase in purchasing power in many fields and industries. In fact, in recent years, the economy has faced many difficulties, causing people's consumption to decline. Although businesses and local authorities have tried to organize concentrated promotional programs with great incentives and deep discounts, they have not been very effective. The insecure mentality has caused most consumers to tighten their spending, even on essential needs. Therefore, the stimulation from tourism is bringing positive effects, especially in the last quarter of the year, the quarter when the whole economy is accelerating to achieve the high growth target set by the Government.

On the occasion of September 2nd, tourists lined up at Vinpearl Nha Trang from early morning.

PHOTO: LE NAM

Tourism stimulates multi-level consumption

PHOTO: LE NAM

Master Tran Anh Tung, Head of Business Administration, University of Economics and Finance, Ho Chi Minh City, assessed: The September 2nd holiday has created a strong boost for aggregate demand. Assuming an average spending of VND2 million/day/customer, total direct social spending could reach more than VND72,000 billion, equivalent to 0.8 - 1% of GDP per quarter. "This is a number that is enough to prove the significant role of tourism in short-term consumption," Master Tung emphasized.

According to Master Tran Anh Tung, not only do accommodation, food, transportation and retail services benefit, tourism also brings about a "multiplier effect": When the number of visitors increases dramatically, suppliers of agricultural products, food, beverages, gasoline, and logistics all benefit. Revenue from food services at many tourist centers during the holidays increases by about 30%, while public transport, taxis, railways and airlines increase by an average of 20 - 25%.

Economist, Associate Professor, Dr. Nguyen Huu Huan also admitted: The 2.9 tourism boost has been directly transmitted to service consumption demand and is clearly shown through actual data. This is a direct spending stream for accommodation, food, entertainment, and at the same time creates a "multiplier loop" with retail, urban logistics and ancillary services. "Tourism is the "fire starter" for consumption because it touches both individual behavior and economic structure. At the household level, tourism belongs to the experiential group, bringing higher satisfaction than material. At the economic level, each trip brings along a cluster of accompanying spending: from food, shopping to transportation, creating a clear spillover coefficient to local retail and services," Mr. Huan emphasized.

EXPERIENCE SPENDING "OVERCOME" TIGHTENING THE BELLY

Explaining why many people are willing to spend money on travel while the mentality of tightening their belts still prevails, Master Tran Anh Tung said that the key lies in the characteristic of "experiential spending". Travel is prioritized because it brings spiritual value and balance to life. People are willing to spend money on short trips, close to home, or with family to have valuable experiences. More importantly, the impact of tourism does not stop when the holiday ends but also lasts for many weeks afterwards. "In the first 1-2 weeks, the number of visitors remains stable thanks to less busy groups traveling late to avoid peak times; the next 4-6 weeks is the time for additional orders from tourism businesses to suppliers (food, logistics, fuel, etc.) to create a circulating cash flow; the third stage is when consumer confidence is strengthened, people return to normal spending after a period of moderation", Master Tran Anh Tung pointed out.

Restaurant staff at Mia Resort Nha Trang are both busy and excited to serve guests during the September 2nd holiday.

PHOTO: LE NAM

According to Associate Professor Dr. Nguyen Huu Huan, many households have their own budget for the holidays, so they do not feel guilty about spending on their overall savings. In addition, after the Covid-19 period, the pent-up demand for travel has now rebounded strongly, becoming a "starter" for social purchasing power. "The post-holiday effect occurs in a decreasing tail, strongest in the first 7-10 days when people still have the aftertaste. If retailers and destinations extend it with post-event promotions or weekend event schedules, the effect can last 2-3 weeks, even 4-6 weeks in large cities," said Mr. Huan.

Therefore, according to experts, the core issue is to turn seasonal boosts into long-term motivation. Master Tran Anh Tung proposed that it is necessary to build an ecosystem to support the consumption - tourism cycle, from regional linkages to micro-credit packages. Localities can stimulate demand by reducing entrance ticket prices, weekend accommodation promotions, and inter-provincial tours. Banks can implement 0% installment credit packages for 3 months for booking tour tickets and resort combos. It is important to strictly control service prices to avoid overcharging and losing trust.

Meanwhile, Associate Professor Dr. Nguyen Huu Huan emphasized the importance of the "event calendar" as an economic infrastructure. "If the central government and major cities announce the quarterly festival, sports, and MICE calendar early, businesses will proactively build combo packages for tourism, dining, and shopping, maintaining a stable revenue rhythm. At the same time, it is necessary to encourage on-site spending through refunds, discounts, targeted tax reductions, national reward point alliances, integrated transport tickets. Night-time economy, tourism - retail, short-term credit packages for small and medium enterprises...", Associate Professor Dr. Nguyen Huu Huan stated.

A “Tourism - Consumption Taskforce” can be established in key cities to coordinate event schedules, interoperable tickets, digital promotions, and real-time data management. When events, transportation, digital payments, and retail are synchronized, tourism will not only drive demand for services but also raise the ceiling for sustainable domestic consumption.

Associate Professor, Dr. Nguyen Huu Huan

Source: https://thanhnien.vn/du-lich-thang-lon-tieu-dung-huong-loi-185250904163123825.htm