According to the latest data from the Quang Binh Statistics Bureau, the province’s accommodation service revenue in October 2024 is estimated at VND 46.7 billion, a decrease of 6.9% from the previous month, but an increase of 13.9% over the same period. For the first ten months of 2024, the revenue reached VND 555.9 billion, up by 17.1% year-on-year. The number of guests staying in Quang Binh in October 2024 is estimated at 145,950, a decrease of 4.1% from the previous month, but an increase of 20.4% year-on-year. From January to October 2024, the province welcomed nearly 1.7 million guests, up by 16.1% compared to the same period last year.
In addition, the number of international visitors staying in Quang Binh in October 2024 is estimated at 5,747, down 13.1% from the previous month, but up 15.6% year-on-year. For the first ten months of 2024, the province welcomed 95,597 international visitors, an increase of 19.2% over the same period last year. The number of visitor days in October 2024 is estimated at 160,589, down 6.1% from the previous month, but up 30.5% year-on-year. For the first ten months of 2024, the province recorded more than 1.8 million visitor days, up by 17.3% compared to the same period.
The decrease in commercial and tourism activities led to a reduction in demand for entertainment, beauty, and temporary labor services, among others. As a result, the revenue from other service industries in the province decreased in October 2024 compared to the previous month, with an estimated revenue of VND 226.6 billion, a decrease of 1.3% from the previous month, but an increase of 8.8% year-on-year.
For the first ten months of 2024, Quang Binh’s revenue from other services reached VND 2,262.7 billion, up by 9.9% year-on-year. Most service groups experienced significant growth, with the real estate business group accounting for the largest proportion and a growth rate of 9.1%, contributing the most with an increase of 2.7 percentage points. The administrative and support services group increased by 10.8%, contributing an additional 2.0 percentage points. Other services grew by 9.7%, adding 1.9 percentage points to the overall growth rate, while the arts, entertainment, and recreational services group saw an increase of 11.3%, contributing 1.6 percentage points to the overall growth of the service industries.
In October, due to the rainy season, there was a decrease in travel and tourism activities, which impacted the province’s total retail sales. As a result, Quang Binh’s total retail sales in October 2024 are estimated at VND 4,236.1 billion, a slight decrease of 0.3% from the previous month, but an increase of 14.0% year-on-year. For the first ten months of 2024, the province’s total retail sales reached VND 42,762.1 billion, up by 11.3% year-on-year, driven by increased consumption of clothing, cultural items, educational materials, and household goods. Most commodity groups saw growth rates of over 10%, with the highest increase in the food and foodstuff group, which contributed an additional 4.6 percentage points to the overall growth rate, while the clothing group added 1.7 percentage points.
Quang Binh’s industrial production index for October and the first ten months of 2024 continued to grow compared to the same period last year, despite challenges in the context of unstable consumption and export markets. The province’s key industries, along with businesses, actively addressed difficulties and obstacles in production and business activities and sought out consumption markets. As a result, a number of industries, such as food processing, beverage production, paper manufacturing, and paper products, saw significant growth, contributing to the overall industrial growth of the province.
For the first ten months of 2024, the province’s total industrial production index increased by 8.1% over the same period last year. Specifically, the mining industry decreased by 3.7%; the processing and manufacturing industry increased by 9.3%; the electricity production and distribution industry increased by 6.8%; and the water supply, waste management, and treatment industry increased by 7.3% compared to the same period last year.
Some key industrial products of the province, as of the end of October 2024, compared to the same period last year, include: titanium ore production reached 35.5 thousand tons, down 12.7%; construction stone reached 2.0 million m3, down 3.7%; kaolin reached 57.3 thousand tons, down 19.4%; and processed seafood products reached 26.2 thousand tons, up 20.2%.
Quang Binh’s state budget revenue for the first ten months of 2024 is estimated at more than VND 5,557 billion, equivalent to 79.4% of the local budget estimate and an increase of 29.9% over the same period. Domestic revenue reached VND 4,217.9 billion, or 78.5% of the local budget estimate, an increase of 11.5% year-on-year. Import and export tax revenue reached VND 1,339.6 billion, an increase of 91.4% compared to the local budget estimate and an increase of 170.3% year-on-year.
Out of the 16 budget revenue items for the first ten months of 2024, 11 items showed growth compared to the same period. These include revenue from state-owned enterprises, foreign-invested enterprises, non-state enterprises, fees and charges, registration fees, personal income tax, land use fees, other revenues in the budget balance, lottery revenue, dividends, and revenue from sea area usage fees. The total budget expenditure for the first ten months of 2024 is estimated at nearly VND 12,795 billion, an increase of 2.7% over the same period last year.
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