Vietnam's retail sales and tourism sector show strong growth

Vietnam's retail sector and tourism industry continued to demonstrate robust growth in October 2024.

Total retail sales of goods and consumer services increased by 7.1% year-on-year, reaching VND545.7 trillion ($21.5 billion). This growth was primarily driven by increased sales in food and beverage, as well as the transportation sector.

For the first ten months of 2024, total retail sales reached VND5.246 quadrillion ($206.8 billion), a significant 8.5% increase compared to the same period in the previous year. This growth was primarily attributed to the strong performance of the accommodation and food services sector, which saw a 12.5% year-on-year increase.

The tourism sector also experienced substantial growth, with international tourist arrivals reaching 1.42 million in October 2024, a 27.6% increase compared to the same period last year.

Cumulative international arrivals for the first ten months of the year surpassed 14.1 million, representing a robust 41.3% year-on-year growth.