Vietnam Shatters 2023 Tourist Goals in Record Nine Months

By Author

Published on November 5, 2023

In a remarkable display of its growing global appeal, Vietnam has welcomed 8.9 million international visitors in the first nine months of 2023, shattering its yearly target of 8 million. This achievement marks a 4.7-fold increase from the previous year, highlighting the country’s surging popularity as a prime tourist destination.

The majority of these tourists, totaling 6.85 million, hailed from Asia, with significant numbers from Europe (1.015 million), the Americas (682,800), Oceania (311,100), and Africa (20,400). The influx of visitors was predominantly by air (87.5%), showcasing Vietnam's improved air connectivity. Road arrivals followed at 11.8%, with a minor percentage arriving by sea.

This surge in tourism has been attributed to Vietnam’s new e-visa policy, which now allows a 90-day stay as opposed to the previous 30-day limit. This policy, along with affordable holiday packages and the ease of obtaining visas through online platforms like Akbar Travels, has played a crucial role in attracting international visitors, particularly from India.

Vietnam’s tourism sector has experienced a boost in revenue, with accommodation and catering services witnessing a 16% increase, while travel and tourism services soared by 47.7%. The country’s reputation as a budget-friendly and safe destination has particularly resonated with solo travellers, adding to its appeal.

Despite a month-on-month dip in September, the overall numbers paint a bright picture. Vu The Binh, chairman of the Vietnam Tourism Association, now projects a more ambitious target of 10-12 million tourists for the year.

The central region of Vietnam, specifically Đà Nẵng, has emerged as a 'hot spot' for MICE tourism. Its strategic location between two UNESCO world heritage sites, Hội An and Huế, and the proliferation of luxury accommodations along its beaches, have been highlighted by Australia’s Micenet Magazine.

Vietnam's success in surpassing its tourism targets well before year-end underscores its allure as a top-tier destination. The country's blend of cultural richness, scenic beauty, and tourist-friendly policies continue to draw visitors from across the globe, marking a significant rebound and growth in its tourism sector.

ITC Increases Stake in Oberoi Group and Leela Mumbai Ahead of Hotel Arm Demerger

By Nishang Narayan

Published on December 20, 2024

In a strategic move ahead of the January 1, 2025, demerger of its hotel business, ITC has increased its stakes in two major players in the Indian hospitality industry. ITC has raised its shareholding in EIH Ltd, the parent company of Oberoi Hotels, to 16.13%, and in HLV Ltd, which owns The Leela Mumbai, to 8.11%.

As of September 2024, ITC held a 13.69% stake in EIH. By acquiring an additional 2.44%, equivalent to 1,52,32,129 equity shares, ITC now commands a 16.13% stake in the company. Similarly, ITC’s stake in HLV Ltd has increased from 7.58% to 8.11%, following the purchase of 34,60,829 equity shares.

In a regulatory filing, ITC announced, “...the company today has acquired 2.44 percent of the share capital (comprising 1,52,32,129 equity shares of INR 2 each) of EIH Ltd and 0.53 percent of the share capital (comprising 34,60,829 equity shares of INR 2 each) of HLV Ltd, from Russell Credit Ltd, a wholly owned subsidiary of the company.”

This move is seen as a part of ITC’s preparation for the demerger of its hotel business, ITC Hotels, from its parent group. The demerger, set to take effect from January 1, 2025, is expected to unlock greater value for ITC’s stakeholders and enhance its focus on core operations.

With the increased stakes, ITC is cementing its presence in the premium and luxury hospitality segments, strengthening its relationship with iconic brands like Oberoi Hotels and The Leela Mumbai.

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Bangkok’s Funk Meets Bangalore: FunkyTown x Muro Collaboration

By Author

Published on November 27, 2024

Mark your calendars for November 29th and 30th, 2024, as FunkyTown, Bangkok’s culinary sensation, teams up with Muro, Bangalore, for two nights of bold, boundary-pushing flavors. Led by the talented team of Pae Ketumarn, Earth Pirwkram, and Theo from FunkyTown and Sarnies Thailand, the event promises an extraordinary menu of innovative small bites and cocktails exploring the depth of Thai cuisine with a unique "funk level" scale, ranging from mild to daringly intense.

Guests can indulge in creations like Scallop Crudo Tart, Beef Tartare Cone, and Duck & Apple Snail Tsukune, paired with signature drinks such as the Durian Colada, Mango Martini, and the adventurous Green Curry Cocktail. Each dish and drink combines creative flair, sustainability, and locally rooted ingredients to offer a one-of-a-kind sensory experience.

Whether you prefer subtle tastes or are ready for the ultimate funky adventure, this exclusive collaboration is a must-attend for food and cocktail enthusiasts. Limited seats available—book now for an unforgettable celebration of Thai-inspired innovation and artistry!