Vietnam's 2024 retail & consumer services revenue up 9%

Vietnam's retail sector and tourism industry showed significant growth in December 2024 and throughout the year, signaling a robust recovery from the COVID-19 pandemic.

In December, the total retail sales of goods and consumer service revenue at current prices reached VND570.7 trillion (nearly $22.5 billion), marking a 1.9% increase from the previous month and a 9.3% rise compared to December 2023.

For the fourth quarter of 2024, the total retail sales of goods and consumer service revenue amounted to over VND1.686 quadrillion (nearly $66.4 billion), reflecting a 5.9% increase from the previous quarter and a 9.3% year-over-year growth.

Throughout 2024, Vietnam's total retail sales of goods and consumer service revenue was estimated at VND6.391 quadrillion (nearly $251.5 billion), a 9% increase from the previous year, meeting the targets set out in Government Resolution No. 01/NQ-CP.

Compared to 2019, the year before the COVID-19 pandemic, this represents a 29.4% increase, with retail sales of goods rising by 31.5% and travel and tourism revenue climbing by 39.8%.

In December alone, Vietnam welcomed 1.75 million international visitors, a 27.4% increase year-over-year. Meanwhile, 363,100 Vietnamese citizens traveled abroad, marking a 3.1% increase from the same period last year.

For the entire year, nearly 17.6 million international tourists visited Vietnam, a 39.5% increase from 2023, reaching 97.6% of the pre-pandemic visitor numbers in 2019. The number of Vietnamese traveling abroad also saw an uptick, with 5.3 million departures, a 5.5% increase compared to the previous year.