Vietnam has surpassed its other competitors Cambodia, China, India, Japan, Malaysia, South Korea and Thailand to claim the awards.
The results were based on votes cast by travel industry professionals and the public, with the nominee gaining the most votes in a category named as the winner.
Individual Vietnamese companies however won several awards in smaller categories.
National flag carrier Vietnam Airlines won "Asia's Leading Airline – Premium Economy Class 2020", while Bamboo Airways was honored as "Asia's leading regional airline."
The World Travel Awards was first launched in 1993 to acknowledge excellence in the travel and tourism industry. Heralded as the "travel industry's equivalent of the Oscars" by The Wall Street Journal, the awards are handed out based on votes by the public and travel professionals across the globe.