Da Nang tourism booms, driving economic growth

Da Nang welcomed an estimated 1.2 million visitors in August, a 44.2% surge compared to the same period last year.

This growth contributed to a 33.4% increase in total guest arrivals for the first eight months of 2024, reaching 7.8 million.

In the eight-month period, international visitors to Da Nang increased by 30% to 2.8 million, while domestic tourism saw a 35.5% rise to 5 million. These figures translated into significant revenue growth for the city's accommodation and catering services, which reached nearly VND18.3 trillion ($747 million) – a 23.3% increase year-over-year. Travel services revenue also soared by 49.3% to VND5.056 trillion ($206.5 million).

Retail sales in August climbed 1.5% from the previous month and 13.6% year-over-year, reaching VND6.4 trillion ($261 million). Wholesale sales increased by 17.8% to VND14.04 trillion ($574 million) during the same period.

In the industrial sector, the overall industry production index for the first eight months of 2024 grew by 4.3% compared to 2023. The strong economic performance has boosted state budget revenue, which reached VND17.33 trillion ($708 million) as of August 25, a 28.7% increase year-over-year.

Domestic revenue continues to drive the city's economy, accounting for 88.7% of the total state budget revenue. Key contributors include revenue from non-state-owned commercial and industrial sectors (up 49.2%), foreign-invested enterprises (up 48.8%), personal income tax (up 36.4%), and revenue related to houses and land (up 24.7%).