At a recent government meeting, Prime Minister Pham Minh Chinh ordered the Ministries of Foreign Affairs, Public Security and Culture, Sports, and Tourism to review visa policies, particularly for nationals of "traditionally friendly nations," and consider exemptions for some billionaire travelers.
Nguyen Van My, chairman of Hanoi-based Lua Viet Tours, called for visa waivers "as much as possible," saying Vietnam should make unilateral exemptions.
He pointed out that Thailand waives visas for more than 90 countries in its bid to attract 40 million visitors this year, nearly double Vietnam's target of 22-23 million.
But if Vietnam opts for a more selective approach, prioritizing high-spending tourists would be key, he said.
He proposed visa exemptions for travelers who spend at least US$2,000 per trip.
Associate Professor Pham Hong Long of the Vietnam National University, Hanoi, concurred.
Vietnam should also target nations with neutral policies and strong diplomatic ties, particularly high-spending markets like Australia and New Zealand, he said.
Huynh Phan Phuong Hoang, deputy general director of leading tour operator Vietravel, emphasized the importance of visa exemptions for large source markets such as China and India and emerging markets with high potential like the UAE, Saudi Arabia, Qatar, Kuwait, and Central Asian nations.
"A long-term visa policy with multiple entries would encourage visitors to return to Vietnam rather than choose other destinations."
Regarding billionaire travelers, experts said while this niche group has significant spending power, it also demands high-end services.
The U.S., China, India, the UAE, and Europe are key sources of origin of these visitors.
But Vietnam lacks specialized travel companies catering to this market.
As competition for foreign tourists intensifies, expanding visa exemptions could be a crucial step in helping Vietnam achieve its tourism goals and stay competitive with regional rivals.
From March 1 Vietnam extended visa-free travel to 45 days for citizens of Poland, Czechia and Switzerland traveling on package tours, adding to a list of 25 countries enjoying visa-free entry, compared to 162 in Malaysia and Singapore and 157 in the Philippines.
Vietnam received 3.96 million foreign arrivals in the first two months of 2025, a 30% year-on-year increase, with China regaining its crown as the country's biggest source of visitors.
The U.S., India and Australia were among the top 10.