With a GDP growth of 5.1% in 2023 projected to rise to 6–6.5% in 2024, Vietnam is one of the fastest-growing economies in Southeast Asia. The growth is expected to be driven by exports, manufacturing, tourism, and domestic consumption. Key sectors such as manufacturing, real estate, and tourism are showing signs of recovery and attracting both domestic and international investors.
Vietnam's implementation of the global minimum tax rate did not deter foreign investors, with a surge in FDI interest. The Republic of Korea has pledged significant investment in Vietnam, focusing on manufacturing projects. Vietnam is also opening up its stock market settlements to enhance foreign investment potential.
In the tourism sector, while international tourism is at 70% of pre-COVID-19 levels, domestic tourism is thriving. Chinese tourists, a significant market for Vietnam's tourism, are gradually increasing. Industry experts are confident about the tourism sector in 2024, with new visa rules expected to boost tourism growth.
Overall, Vietnam's strong economic growth, investment-friendly policies, and rebounding sectors such as manufacturing and tourism are contributing to a positive outlook for the country's economic development in the coming year .
