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Under a resolution issued on Aug. 8, the government waived visa requirements for citizens of 12 more countries — Belgium, Bulgaria, Croatia, Czechia, Hungary, Luxembourg, the Netherlands, Poland, Romania, Slovakia, Slovenia, and Switzerland — for stays of up to 45 days.

This expands Vietnam’s unilateral visa waiver list to 24 countries, and the number of countries enjoying its exemption policy to 39.

“Improving visa policies is not only a great opportunity for the tourism industry but also for Vietnam’s overall economic development,” Pham Hai Quynh, director of the Asian Development Institute in Hanoi, said.

“If there are no unexpected disruptions, Vietnam can get 25–30 million foreign visitors by 2026, bringing us closer to Thailand.”

Last week the government also approved visa exemptions for scientists, investors and billionaires as a means to promote economic growth.

Vu Van Tuyen, director of travel company Travelogy, called the move “a message of openness, friendliness and integration” to attract high-income, long-staying and high-spending travelers.

This demographic seeks premium and sustainable experiences that align with Vietnam’s high-end tourism strategy.

The new billionaire-focused visa exemption opens up the lucrative luxury tourism segment.

Vietnam already offers services catering to this market, such as superyacht tours in Ha Long Bay, helicopter sightseeing flights, Michelin-starred dining, and five-star resorts in places like Phu Quoc and Da Nang.

The country also boasts world-class golf courses, including The Bluffs in HCMC and Ba Na Hills Golf Club in Da Nang.

Immediate and long-term benefits

For European travelers, the new policy significantly lowers entry barriers, making Vietnam an attractive destination.

Travel firms, hotels and airlines can now create targeted products for specific markets such as culinary tours for French tourists, resort packages for Italian and Spanish visitors or heritage-focused itineraries for German and Dutch guests.

Tuyen expected the policy to help boost tourist arrivals by 20–25%, with positive spillover effects for the aviation, food and handicraft sectors.

Nguyen Van My, chairman of Lua Viet Tours, said the changes could position Vietnam alongside regional leaders like Thailand, Malaysia and Singapore, which have long offered visa-free entry to the super-rich.

But he stressed the need for repeat visits from high-end customers to maximize economic benefits.

Insiders agreed that visa policies alone would not help close the gap with Thailand.

Quynh said Vietnam must also invest in infrastructure, service quality and destination marketing.

My urged the tourism industry to proactively reach key markets by opening offices abroad for promotion, a strategy already successfully adopted by competitors. Malaysia has 30 representative and six marketing offices in 28 countries and territories, while Thailand has 29.

“Vietnam’s tourism is accelerating, but so are other countries’,” My said.

“We need to run faster to catch up with them.”