Vietnam's tourism is growing fast, but one important market is shrinking. In the first nine months of the year, the country welcomed 17.7 million international visitors, up almost 15 percent. South Korea sent 3 million of them and ranked second after mainland China. Yet it was the only top-ten market to decline, down about 5 percent. Korean arrivals also fell 5 percent in 2025.
The won fell to its lowest level since 2009 in June, so Koreans are more careful about spending abroad. Japan and China have become stronger competitors. Japan offers a good exchange rate and quality service, while China now allows Koreans to enter without a visa. Flying two or three hours to Japan or China is easier than a six-hour trip to Southeast Asia. One expert says a destination stays popular for three to four years. Vietnam's low prices no longer make a big enough difference.