Economics and Finance


A Review of Vietnam Tourism Development Policy

Authors: Nguyen Hoang Hien

Tourism is one of the largest and the fastest growing economic sectors in the world. In many developing countries, tourism is considered a strategic economic sector, as this is one of the important sources of foreign exchange. Tourism creates business, trade and investment opportunities for the economy and protects the heritage and cultural values of the nation. Moreover, the tourism industry is labor intensive, tourism development can create jobs in society. And finally, tourism is a smoke-free industry, so it’s development does not affect the environment and it is likely to stimulate economic growth. In Vietnam, the tourism industry has exploded since the early 2000s, with the rapid growth of both international and domestic tourists. The Vietnamese government regards tourism as a spearhead economic sector, and the development of tourism can promote economic development. Therefore, Vietnam has had many policies for tourism development in the past two decades. This paper looks at the development of Vietnam's tourism sector in the period 2000-2016, analyzes Vietnam's policies for tourism, compares them with policies of other regional countries such as Thailand and Malaysia in order to find the solutions for Vietnam tourism development.

Comments: 15 Pages. Published in The UNIVERSITY WITHOUT BORDERS Journal of ECONOMICS & BUSINESS;

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[v1] 2018-07-01 03:17:08

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