Strong dollar makes Vietnam top destination for Americans

By Tu Nguyen   January 14, 2024 | 05:14 pm PT
Strong dollar makes Vietnam top destination for Americans
A five-star room of a luxury cruise overlooks Ha Long Bay in northern Vietnam. Photo courtesy of Indochine Cruise
As travel costs continue to rise, Bloomberg has named Vietnam one of the five best destinations for American travelers thanks to favorable U.S. dollar exchange rates.

The four other top American tourist destinations named were Indonesia, South Korea, Colombia, and Tanzania, as each "have shown favorable exchange rates over the past two to three years," according to Bloomberg.

The news source compiled the list using information based on the Bloomberg World Currency Ranker and the U.S. Treasury Bureau of the Fiscal Service.

The report asserted that in December 2021, 1 USD was equal to about VND22,000, but by December 2023 the exchange rate had risen to VND24,000.

Hotel brands such as JW Marriott and Ritz-Carlton Reserve consider Vietnam a new luxury destination in the region, according to the report.

Bloomberg recommended American tourists stay at long-standing 5-star hotels in Hanoi with room rates starting at $279 per night. The report also suggested exploring Ha Long Bay by yacht for about $526 per night.

In 2023, the number of international visitors to Vietnam reached 12.6 million, around 70% of pre-pandemic levels, and the figure is expected to reach 18 million this year.

The U.S. was one of Vietnam’s 10 largest sources of tourists in 2023, accounting for around 717,000 arrivals.

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