The plans for the new airport come after a huge boost in tourism in 2012. The country’s inbound tourist volumes expanded at a CAGR of 12.64% during 2008−2012. Timetric expects that these numbers will increase and generate possible revenues of over US 10 billion by 2015 and will continue to grow.
According to the World Economic Forum’s (WEF)Travel and Tourism Competitive Index 2013 report, Vietnam is ranked 58th in terms of safety and security with a low rate of crime. It has several World Heritage cultural sites including Hoi An, Halong Bay and Phong Nha-Ke Bang National Park which attract many visitors. The country also has coastlines stretching over 3,260km making it a popular choice for tourists seeking a “sun and sea” holiday.
Vietnam offers reasonably priced and diverse tourism services. It is considered to be a budget tourist destination in comparison with other Southeast Asian countries and is ranked 18th in terms of price by the Travel and Tourism Competitive Index 2013. Demand for tourism from other emerging markets in Asia, particularly China, India and Indonesia, is expected to rise due to the growth of their middle-class populations. The government tourism development strategy to 2020 and vision to 2030 aims to attract 7.5 million inbound tourists and 36 million domestic tourists by 2015. Long Thanh International Airport has been designed with a capacity of 100 million annual passengers and is scheduled to commence construction in 2015, with the completion of the initial infrastructure scheduled for 2020.