 A corner of Vietnam's Con Dao island. (Photo: chinhphu.vn) |
The sector is forecast to reach 9.5 trillion USD in 2023, just 5% shy of its gross domestic product contribution in 2019, according to the Council’s 2023 Economic Impact Research.
Global recovery is expected to occur in 2024, fueled by the slow but steady return of Chinese tourists, according to the report. From there, the sector will continue to grow, it said.