Tourism positively contributes to overall retail trade and consumer spending of services

Retail sales and food services revenue increased by 2% compared to the previous month and by 9% compared to the same period last year. Tourism made a significant positive impact on this development.

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The General Statistics Office reported that the total retail sales of goods and consumer services revenue in April 2024 rose by 2% compared to the previous month and increased by 9% year-on-year due to the positive contribution of the tourism industry.

The total retail sales of goods and consumer services revenue in the first four months of 2024 posted an 8.5% increase year-on-year, in which the revenue from accommodation and catering services increased by 15.3%, and travel revenue surged by 49.3%.

The total retail sales of goods and consumer services revenue at current prices is estimated to reach VND522.1 trillion in April 2024, a 9% increase compared to the same period last year, in which the group of food increased by 10.3%; household goods, equipment, and appliances increased by 12.9%; clothing increased by 12.7%; accommodation, and catering services increased by 19.1%; travel services increased by 57.6%.

Total retail sales of goods and consumer services revenue at current prices in the first four months of 2020-2024. Source: General Statistics Office.

In the first four months of 2024, the total retail sales of goods and consumer services revenue at current prices are estimated to reach VND2,062.3 trillion, up by 8.5% compared to the same period last year (in the same period of 2023, the increase was 13.3%). Excluding the price factor, the increase was 5.3% (in the same period in 2023, the increase was 8.7%).

The retail sales of goods in the first four months of 2024 are estimated to reach VND1,594.5 trillion, accounting for 77.3% of the total revenue and increasing by 7.1% year-on-year (excluding the price factor, the increase was 4.4%).

In which, the group of food increased by 11%; household goods, equipment, and appliances increased by 14.9%; clothing increased by 10.3%; means of transport (excluding cars) increased by 0.1%; and cultural and educational goods increased by 17.8%.

The retail sales of goods in the first four months of 2024 compared to the same period last year in some localities are as follows: Quang Ninh increased by 9.6%; Hai Phong increased by 9.4%; Can Tho increased by 7.8%; Binh Duong increased by 7.7%; Dong Nai increased by 6.9%; Da Nang increased by 6.8%; Ho Chi Minh City increased by 6.4%; Hanoi increased by 5.3%.

Revenue from accommodation and catering services in the first four months of 2024 is estimated at VND237.3 trillion, accounting for 11.5% of the total revenue and increasing by 15.3% year-on-year. Revenue in the first four months of 2024 compared to the same period last year in some localities are: Da Nang increased by 23.2%; Quang Ninh increased by 22.3%; Hai Phong increased by 14.5%; Ho Chi Minh City increased by 12.6%; Hanoi increased by 12.5%; Can Tho increased by 9.1%.

According to the General Statistics Office, with a favorable visa policy, attractive tourism stimulus programs have continued to take effect, attracting a number of international visitors to Vietnam quite high compared to the same period last year. In April 2024, the number of international visitors to Vietnam reached nearly 1.6 million, an increase of 58.2% compared to the same period last year.

In the first four months of 2024, the number of international visitors to Vietnam reached 6.2 million, up by 68.3% year-on-year and up by 3.9% compared to the same period in 2019 (the year before the Covid-19 pandemic).

International visitors to Vietnam from January to April 2024 by region. Source: General Statistics Office.

As a result, the tourism revenue in the first four months of 2024 is estimated at VND19.4 trillion, accounting for 1.0% of the total revenue and increasing by 49.3% year-on-year.

Revenue in the first four months of 2024 in some localities increased quite high compared to the same period last year such as: Khanh Hoa increased by 158.5%; Da Nang increased by 98.5%; Binh Dinh increased by 60.6%; Ho Chi Minh City increased by 58.7%; Can Tho increased by 57.7%; Hanoi increased by 49.0%; Quang Ninh increased by 16.5%; Binh Duong increased by 14.7%.

The increasing demand for tourism in April led to active transportation activities to serve the travel, tourism and consumption needs of people during the Hung Kings’ Anniversary and the 30/4-1/5 holidays.

Passenger transport in April 2024 is estimated to reach 403.2 million, an increase of 1.3%, and the passenger turnover reached 22.8 billion, an increase of 3.1% compared to the previous month. In the first four months of 2024, passenger transport is estimated to reach 1,602.6 million, up by 8.4% year-on-year, and the passenger turnover reached 89.7 billion, up by 12.7%.

Revenue from other services in the first four months of 2024 is estimated at VND211.1 trillion, accounting for 10.2% of the total revenue and increasing by 9.4% year-on-year. Revenue in the first four months of 2024 in some localities are: Lao Cai increased by 26.5%; Kien Giang increased by 23.4%; Thua Thien – Hue increased by 19.6%; Binh Dinh increased by 14.4%; Ho Chi Minh City increased by 10.8%; Quang Binh increased by 9.7%; Binh Duong increased by 8.6%; Can Tho increased by 8.0%; Hanoi increased by 5.8%.

SOURCEvneconomy
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