Is Vietnam Investing Enough in Tourism Promotion?
PHOTO: Danang, Vietnam (courtesy Thinkstock)
Vietnam plans to boost its tourism promotion budget, but will it be enough to counter its rivals? The country is consistently outspent by neighboring countries Thailand, Singapore and Malaysia.
Brett Davis writes in Forbes that he believes Vietnam needs to do more in regards to tourism marketing and rethink how it spends its current tourism dollars.
Vietnam’s tourism authorities have signaled their intention to boost the funding for marketing the country as an international tourist destination, however, even with this increase, they will remain far adrift of their regional rivals,” writes Davis.
Even with an increase in of more than $3 million, Davis still believes that there needs to be more — and better — investment.
“Another slightly problematic part of the plan for the fund is the long-term intention of drawing 70 percent of the investment from the ‘beneficiaries of tourism,’” Davis notes. “This presumably means licensed tourism operators and hotels. If it takes the form of an additional levy on top of taxable income, it could drag down growth in the sector and overlooks the broader benefits to the economy of increased tourism.”
Part of the problem could be that tourism officials see a lack of creativity rather than money was what was holding back tourism, but is that really the case?
Read more of Davis’ analysis on how Vietnam could better promote itself here.
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