Hosting Trinity Forum 2024 is a great opportunity for Ho Chi Minh City

Chosen as the host for The Trinity Forum 2024, Ho Chi Minh City has many opportunities to achieve its goal of becoming a major shopping and commercial center in the region, attracting international tourists to visit and enjoy shopping.

Ho Chi Minh City has great potential to develop shopping tourism but has not exploited it effectively. In fact, the city has many shopping areas and commercial centers, but they are not properly organized and do not currently not optimize their capacity. In addition, the city lacks large-scale complexes specializing in shopping, entertainment, and cuisine. Tourists coming to Ho Chi Minh City mainly shop for popular goods, not focusing on luxury shopping.

Tan Son Nhat International Airport. Photo: VNA.

The goal of turning Ho Chi Minh City into a "shopping paradise" was set in 2019, but until now it has been slow to implement. The city is making efforts to achieve this goal in the period 2021 - 2025.

According to the World Tourism Cities Association (WTCF), the scale of the shopping tourism industry reached 61 billion USD in 2022, of which Korea holds up to 16 billion USD, equal to 26%, and Asia-Pacific countries hold 53%. Vietnam's share, however, is only a few hundred thousand USD.

Ho Chi Minh City wants to become a "shopping paradise" and attract 10 billion USD/year from shopping tourism. Photo: Shutterstock.

The Trinity Forum 2024 is one of the major events expected to bring opportunities to Ho Chi Minh City, thereby achieving many retail tourism goals. This is a prestigious annual forum, gathering many speakers, experts in airport commercial business, representatives of brands, franchisees and other business partners.

With more than 1,000 guests, speakers, delegates, and experts from 50 countries attending each year, the forum promises to attract investment in the city's retail industry, and to develop tourism, thereby leading to economic development and further reinvestment to improve service quality, create jobs and increase income for tourism human resources.

Ho Chi Minh City has great potential to develop shopping tourism but has not exploited it effectively. Photo: Shutterstock.

Billionaire Johnathan Hanh Nguyen, Chairman of the Board of Directors of Imex Pan Pacific Group (IPPG), the organization that brought the Trinity Forum to Vietnam, affirmed: "Without shopping, it is impossible to develop tourism and the night-time economy. New branded goods are an area where we still have a lot of room, especially in Ho Chi Minh City.”

Ho Chi Minh City has Tan Son Nhat International Airport, the largest gateway airport in the southern region and Vietnam, with the highest takeoff and landing frequency in the country. This is an advantage for developing commercial services at the airport. The forum will be an opportunity for Ho Chi Minh City to introduce these advantages to international investors and tourists. The city can also learn from other successful shopping tourism cities in the world such as Singapore, Dubai, and Bangkok to develop its shopping tourism industry.

The Trinity Forum is an international event focusing on the travel retail. Photo: The Trinity Forum.

Furthermore, the Vietnam Government has many policies to encourage investment in the retail industry, such as reducing taxes and simplifying administrative procedures. The forum held in Ho Chi Minh City at this period is good timing, thereby introducing the city's investment potential in the retail industry to international investors.

Mr. Johnathan Hanh Nguyen added that IPPG has currently negotiated with suppliers to achieve a selling price equal to the price in France and Singapore, and lower than in China even though retail is subject to tax. If conditions are created to form Factory Outlet and Downtown Duty Free areas, Ho Chi Minh City in particular and Vietnam in general will be a "magnet" to attract international visitors to spend money.

Factory outlet and Downtown Duty Free will be "magnets" to attract international visitors to spend money in Ho Chi Minh City. Photo: VisitHCMC.

Hosting The Trinity Forum 2024 is an important opportunity for Ho Chi Minh City to develop its retail and tourism-based economy. By hosting a prestigious forum held annually in major tourist cities, Ho Chi Minh City will progressively be recognized as an attractive destination in the eyes of investors. Through this event, the city is expected to enhance its position on the international shopping tourism map, attract investment in the retail industry, develop a tourism-based economy, create jobs and increase income for people, and improve service quality.