Before Covid-19 pandemic hit the global aviation industry, Vietnam was one of the fastest growing aviation markets globally and it would be the fifth fastest-growing market by 2035, according to IATA. Vietnam had been the leading market in Asia-Pacific in terms of air passenger growth in the last five years with 28.9%, which is more than double the second lead market China. Over the last decade, the average growth rate has been 17.4%, far higher than the 7.9% growth in Asia. The key-driven factors are Vietnam joining several free trade agreements, a growing tourism industry with 19% growth rate for domestic passengers and 29% for international travelers in 2017, and the emergence of low-cost carriers.
On 15 March 2022, Vietnam fully reopened for international tourism after almost two years. As of 15 May 2022, Vietnam dropped all COVID-19 testing requirements for international arrivals. Thanks to the supporting policies from the Vietnamese Government, Vietnam’s domestic aviation market is recovering at the fastest pace in the world with a growth rate of 123 percent compared to the same period of 2019, before the COVID-19 pandemic broke out.
To cope with the explosive growth of air travel market post Covid-19 and the bright future for the aviation industry, Vietnam’s government is striving to develop and revamp airport capacity, airlines are expanding fleets, building MRO facilities and capabilities, training young talents to meet the workforce demand, etc. The inaugural Vietnam Aero Summit 2023 (VAS 2023) is an opportune event to discuss about the most pressing concerns, challenges and opportunities in this market through speeches, panel discussions, exhibition showcases, etc.
VAS 2023 will strengthen connections among civil aviation authorities, airlines, airport operators/owners, OEMs, MROs, aviation training schools, aircraft leasing companies, parts suppliers, equipment manufacturers, solution providers, investors, consultants and business associations to brainstorm joint efforts to consolidate Vietnam’s soaring air travel industry.
We look forward to meeting you in Hanoi in February!
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