Vietnam’s Nighttime Economy: Huge Potential Amidst Many Challenges

Vietnam’s Nighttime Economy: Huge Potential Amidst Many Challenges

Vietnam’s Night Economy: Full of Potential, Why the Lackluster Experience?

For nighttime tourism to be truly successful, it should not only make visitors spend every last dime but also ensure they eagerly want to “return for more.” However, currently, Vietnam’s nighttime economy seems somewhat lackluster, leaving tourists with little to do in the evenings but walk around and then head to bed early due to a lack of engaging nighttime activities.

In recent years, Hanoi and other localities have relentlessly implemented various initiatives to boost the nighttime economy, including night tours, night markets, and other related tourism products. Despite these efforts, we must acknowledge that these services are not yet diverse or attractive enough to significantly increase tourism revenue, especially after midnight.

Nighttime tourism should encompass a variety of unique, revenue-generating experiences, centered around the customer. Although some tourist areas have received substantial investments, they have not focused on developing nighttime tourism products. Instead, their efforts have leaned towards real estate and domestic tourism.

As a result, international tourists, particularly high spenders, often find themselves with nowhere to spend their money at night. Nighttime tourism products in Vietnam lack the allure and connectivity to offer “all-night-long” experiences.

Meanwhile, Thailand has successfully attracted international visitors with unique nighttime tourism products and continuous experiences. For instance, from December 2023, Thailand allowed bars, nightclubs, and other entertainment venues to stay open until 4 AM in certain popular locations. This policy change immediately spurred an increase in both tourist arrivals and tourism revenues.

Vietnam could learn from Thailand by studying tourists’ spending habits to develop appropriate tourism products. It’s crucial to clearly identify the target customers to develop products that meet their tastes and preferences.

Additionally, the involvement of various stakeholders, including local governments, investors, and tourism businesses, is essential to create appealing experiences that extend tourists’ stays and increase their spending.

Mr. Pham Ha, Chairman and CEO of LuxGroup, stated, “We are striving not only to offer nighttime cruises on the seas but also to tap into the potential of river tours, enabling tourists to experience and spend more throughout their trips.”