The wild discounting of accommodations is a trend we’re seeing particularly with Hoi An homestays and budget accommodations. This is helping local businesses bring in basic income. When it comes to 4- and 5-star resorts and hotels, the trend of discounting is also a good way to attract domestic travelers, though this could lead to a reduction in service quality as businesses work to keep costs under control. … [Read more...] about How should Vietnam prepare for post-pandemic tourism recovery?
8 tourism industry sectors
Vo Thi Phuong Mai, deputy director and head of retail services of CBRE Viet Nam, said the COVID-19 pandemic had negatively impacted direct visitor traffic but creating many opportunities for small and medium-sized models such as convenience stores, pharmacies and especially e-commerce. … [Read more...] about E-commerce a positive for retail sector
In an apparent chicken and egg situation, many Vietnamese producers have reportedly postponed the premiere of their summer movies, as they do not want their pictures to hit almost-empty cinema halls only to bring in meager revenues. … [Read more...] about Vietnamese cinemas remain empty as industry awaits post-pandemic rebound
SHB’s loans to small- and medium-sized enterprises in Vietnam, which made up for 31 per cent of gross loans at the end of 2019, will pose renewed asset risk since these groups are short of financial buffers to withstand revenue shocks. VPBank’s is also feeling growing pressure from the quality of its loans to sectors at-risk such as export and tourism-related firms, Moody’s cautioned. … [Read more...] about Consumers risk higher defaults amid lending sector fluctuation
As of May 14, Hanoi has delivered aids to 385,390 people affected by the Covid-19 pandemic, reaching 99.9% of the people entitled to receive such support, local media reported, citing the municipal Department of Labor, War Invalids and Social Affairs’ report at a May 27 meeting. … [Read more...] about Latest Coronavirus News in Vietnam & Southeast Asia May 29