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TABLE OF CONTENT ABSTRACT 1 CHAPTER I : OVERVIEW OF THE NIGHTTIME ECONOMY 2 1. Concept of the nighttime economy 2 2. History of the nighttime economy 2 3. Characteristics of nighttime economy 3 CHAPTER II: THE NIGHTTIME ECONOMIC DEVELOPMENT IN WORLD CITIES 5 1. The nighttime economy in European Union and the United Kingdom 5 2. Nighttime economy in Asia 6 CHAPTER III. THE NIGHTTIME ECONOMY IN VIETNAM 9 1.Evaluation of the potential for nighttime economic development in Vietnam 9 2. The situation of the nighttime economy in Vietnam 12 1.1. Achieved positive results 13 1.2. Limits of nighttime economic development in Vietnam 19 3.Nighttime economy leverage for economic development after COVID19….. ....................................................................................................................21 CHAPTER IV: SOLUTIONS 24 1. Develop clear growth strategy 24 2. Take safety and security measures 25 3. Improve public infrastructure 26 4. Attract more resources 27 5. Raise public awareness 27 CONCLUSION 28 REFERENCES 29 ABSTRACT In recent years, there has been a significantly increasing demand of the night service economy for domestic and international tourists. Despite the high growth in visitor numbers, a few want to return or the stay is also short, partly due to the lack of night services at tourist attractions. Many experts consider the nighttime economy will attract more tourists, especially foreign tourists. The nighttime economy is not a new concept in many countries around the world but it is still not popular in Viet Nam. The nighttime economy contributes significantly to the economic growth of a country, creating many jobs, and betterserving people’s lives. While the major destinations in the world, typically in the cities of Paris, Toulouse (France), Zurich (Switzerland) or Amsterdam (Netherlands), Tokyo (Japan),... earned many billions of dollars from developing the nighttime economy in association with tourism, in Vietnam, the nighttime economy is still small and has not been properly planned from the perspective of state management to peoples livelihood. In many places, the night service is spontaneous only at the request of residents and visitors. In VietNam today, the night economy is receiving the attention of many experts and policymakers, although this activity is still in its formative stage. Realizing the importance of the problem, our group decided to choose the topic: The nighttime economy an irresistible attraction for Vietnam to analyze the current situation of advantages, disadvantages, opportunities, and challenges for cities of Vietnam in attracting tourists every year, and propose some measures to help develop the nighttime economy in Vietnam, especially in the post Covid 19 epidemic situation. 1 CHAPTER I : OVERVIEW OF THE NIGHTTIME ECONOMY 1. Concept of the nighttime economy Nighttime economy is services, business, and activities that are held from 6 pm to 6 am. The Nighttime economy is a subset of the cultural economy. Actors in the night economy include bars, dance clubs, karaoke establishments, parties, live music performances, and other forms of night entertainment (excluding the prostitution industry). These activities are entertainment business activities that satisfy the needs of tourists and also activities that take place at night to serve the business, consumption, and entertainment needs of local people. Economic development at night is increasingly concerned because it contributes to making the most of time, diversifying economic activities. In fact, it serves people’s lives better, attracts tourists, and creates more opportunities for economic growth from countries around the world. Moreover, from countries around the world, the night economy has brought great values: promoting economic and social life, creating surplus value, and contributing to attracting foreign currency. The diversified nighttime economic services require a large number of workers in many different job positions, thereby creating many jobs. Furthermore, the development of the nighttime economy could attract more investors into entertainment and shopping facilities, increasing economic resources for the local economy. Many big cities are also known as nonsleeping cities with vibrant activities at night as well as day. 2. History of the nighttime economy The concept of a nighttime economy or a 24hour city has been around since the late 1970s, especially in Europe. The series of cultural events in the summer evening in Rome (Italy) in 1977 was one of the first initiatives about the 24hour city (Binchini, 1995). In the 1990s, some major cities in the UK such as London, 2 Manchester did not consider the night as negative space (overconsumption of alcohol, crime, street violence) and turned to the beginning of estimating the value of the night economy. Contemporary nighttime economics began to emerge as early as in China in 1979 and caught the attention of policymakers and scholars in the West. But its growth was still slow in the 1980s and early 1990s. In the second half of the 1990s, the night economy expanded exponentially as urban Chinese tended to consume cultural products. Young people enthusiastically embraced the club culture, the nightlife culture that was dominating the globe at the time. After a brief period of harsh repression in 2000 and 2001, Chinas night economy entered another era of rapid growth. In contrast to the 1990s, the current period of growth enjoys significant support from all levels of government, is socially recognized, and receives a positive response in the mass media. Since the late 2000s, Chinas night economy has been commercially successful, culturally vibrant, and has a distinct nationwide presence. The nighttime economy in Vietnam developed quite late in the 2010s. In recent years, it has prospered, but in general, it is still poor and backward. 3. Characteristics of nighttime economy The form of the night economy is a model that includes food, art, music, entertainment programs, festivals, events to tourist attractions only at night. The night economy has a close relationship with the market economy, especially the tourism economy. This is a combination of the two main driving forces is economy and culture, in which the most popular types are relaxation, entertainment, services, and tourism. Whether in a major capital city or a small market town, there are key features of a great night time economy. First, it attracts every sector of the population, 3 regardless of age, race, gender, sexuality or physical or mental ability. Second, it caters to every interest, whether that is eating, drinking, dancing, music, performance or merely gathering. Third, it is attractive to all income groups. Nobody should be excluded from the night time economy on grounds of wealth. Fourth, it should be accessible, whether by public or private transport, or on foot, at all hours. Fifth, it should be safe and amenable, through good signage, lighting, access and security; for a diverse range of users throughout the day and night. The principles are easy to state. The goals can only be attained through partnership, planning, and investment. 4 CHAPTER II: THE NIGHTTIME ECONOMIC DEVELOPMENT IN WORLD CITIES 1. The nighttime economy in European Union and the United Kingdom As cities around the world begin to open out from lockdown, the predictions of how many nighttime venues will remain shuttered if government support is not forthcoming make for grim reading. Cities may value the money and jobs generated by their nighttime economies, but not always their cultural value, is the message from those in the industry. Too often, music, for example, is seen as entertainment rather than culture, apart from in more progressive cities such as Berlin. Closures of small venues in London, for example, have been happening for years, as venues are pushed over and out like dominoes, by skyrocketing rents and a dearth of government policies to support them. The outcome is a fragmented scene spread out across the city, even though a few new venues have opened, including the 6,000capacity in South London. PreCovid, the nighttime sector was delivering millions if not billions of dollars, pounds and euros to city economies. For New York City, the nighttime economy brings in US35.1bn a year and has created 300,000 jobs. In London, the nighttime economy accounts for 723,000 jobs, with a preCovid forecast of an additional 66,000 positions by 2026. The Sydney nighttime economy could grow by 60% to AU43bn if the city nurtured and supported nighttime infrastructure and activities more effectively. While lockdown slowly starts to ease, representatives of nighttime economies around the world have been regrouping digitally to share how to reopen and reimagine the role of nighttime economies in urban living. Where some people see closures, others see opportunities: the opportunity to add ‘content’ to the built environment. The nighttime economy is about looking at real estate as a platform, 5 with the need to create the content, rather than looking at real estate as an asset, which makes cities resilient. In the United Kingdom, the nighttime economy is a growing part of its economy. Nationally, it is the UKs fifthbiggest industry, accounting for at least 8% of the UKs employment and annual revenues of £66bn, according to the NightTime Industries Association. The nighttime economy is an opportunity to revitalize urban areas that become deserted at night. For instance, by organizing food festivals along with restaurants and bars in the city center, cities like London can retain more people in these commercial areas, reducing the number of commuters that return home right after work. This not only results in greater revenue for these businesses but also, helps alleviate rushhour congestion. According to TBR’s NightMix Index, the nighttime economy in the UK employs 1.3 million people and is worth £66bn a year. This index analyzes the composition of the nighttime economy in different areas of the city by measuring indicators such as the number, type and size of the businesses; the number of people that work during this time frame, the evolution of the area’s nighttime economy, and its growth in comparison to other sectors of the local economy. 2. Nighttime economy in Asia In China, the nighttime economy is now a significant part of urban commerce, demonstrating a citys characters and dynamism, is also an important barometer for a citys economic vitality. A report issued by the Ministry of Commerce this July said that 60 percent of consumption took place at night. The turnover of some major shopping malls between 6:00 pm and 10:00 pm accounted for over half of their daily sales volume. Statistics showed the Chinese nighttime economy exceeded 30 trillion yuan (4.64 trillion) in 2020 and is expected to expand to 36 trillion yuan this year. At the 2021 Beijing Catering Brand Conference held during the justconcluded China 6 International Fair for Trade in Services, the Beijing Municipal Commerce Bureau announced the operation of 10 featured night markets in Beijing and launched a dynamic map for the capitals consumer services for better development of the nightime economy. It marked a second time for the Bureau to announce featured night markets in the city. Besides, cities in China have also tailored their own golden signboards for nighttime economy, such as the light shows above the Yangtze River in Hubeis Wuhan, and the scenic belt featuring the Qinhuai River and Fuzimiao, or whats known as the Confucius Temple, in Nanjing, east Chinas Jiangsu province. The nighttime economy covers a wide range of businesses and diverse consumption scenarios, including business types that hold dear both day and night operations, such as restaurants and malls, as well as those that generally welcome only latenight customers, such as pubs and karaoke bars. In Japan, the country has seen a surge of tourists in recent years, welcoming 30 million in 2018, after crossing the 20 million thresholds for the first time in 2016. The government has recognized the cultural and economic benefits of tourism and aims to attract 40 million visitors in 2020 when Tokyo hosts the Olympics and Paralympics. Officials estimate this number would add up to 74 billion dollars in spending on sightseeing, dining, shopping, travel, and other activities. However, the average spending per traveler has fallen for three years in a row. Tourism officials believe one way to get visitors to once again splash the cash is to promote nighttime activities and make them more accessible. Japan is trying to become more tourismdriven by attracting tourists from abroad and through that, increasing spending. Tourists spend the most on transportation, and the second most on accommodations. After that comes money spent on food and leisure, but this amount is low. An incredible amount of shopping is done by tourists from other parts of Asia, but once this calms down, the issue will become how we increase spending. Looking at that, we can see that the pattern of how time is spent during the day has already been 7 decided to a certain extent, but the time before and after that, especially the night, has become a focus. For example, where you go next after dinner: to drink at a bar, to watch a show or to see some art. In these activities, there is another hour or two of inbound tourist spending that is possible. 8 CHAPTER III. THE NIGHTTIME ECONOMY IN VIETNAM 1.Evaluation of the potential for nighttime economic development in Vietnam An assessment of the potential for the development of the night economy in Vietnam shows that there are many advantages for development with the following advantages: Firstly, Vietnam has many conditions for developing the night economy, especially tourism. Tourism resources of Vietnam are quite diverse and rich. According to statistics, Vietnam currently has 28 heritages recognized by the United Nations Educational, Scientific and Cultural Organization (UNESCO) and is a favorite destination of many international tourists; Vietnam has a lot of potential for culture, art and unique cuisine. In a recent survey of the Insider Exclusive TV Show, in the Tourism industry, heritage tourism is considered the fastest growing segment. Heritage tourists typically spend more than regular tourists (about 1,319 per trip, compared with an average of 820 for tourism in general). Heritage tourists also make more trips than other forms of tourism on average (3.6 tripsyear versus 3.4 tripsyear). UNESCO statistics show that places with world heritage sites often attract large numbers of tourists and visitors stay 2.5 times longer than in other places. Second, in recent years, the number of international tourists to Vietnam is increasing. In 2020, Vietnams tourism aims to welcome about 20.5 million international visitors, but this goal has not been achieved due to the impact of the Covid19 pandemic. However, the trend of increasing tourists to Asia Pacific in general and Vietnam, in particular, will continue, when the Covid19 pandemic is under control. Recording the number of tourists worldwide, the World Tourism Organization (UNWTO) said that by the end of 2019, Europe received 50.8% of the 9 global tourist arrivals, Asia Pacific received 24.9%, America received 15%, Africa received 4.9% and the Middle East received 4.4%.
FOREIGN TRADE UNIVERSITY INSTITUTE OF ECONOMICS AND INTERNATIONAL BUSINESS INTERNATIONAL ECONOMICS REPORT TOPIC: NIGHT-TIME ECONOMY – AN IRRESISTIBLE ATTRACTION FOR VIETNAM TABLE OF CONTENT ABSTRACT CHAPTER I : OVERVIEW OF THE NIGHT-TIME ECONOMY Concept of the night-time economy 2 History of the night-time economy .2 Characteristics of night-time economy CHAPTER II: THE NIGHT-TIME ECONOMIC DEVELOPMENT IN WORLD CITIES The night-time economy in European Union and the United Kingdom Night-time economy in Asia CHAPTER III THE NIGHT-TIME ECONOMY IN VIETNAM Evaluation of the potential for night-time economic development in Vietnam The situation of the night-time economy in Vietnam 12 1.1 Achieved positive results 13 1.2 Limits of night-time economic development in Vietnam 19 Night-time economy - l"everage"for economic development after COVID- 19… 21 CHAPTER IV: SOLUTIONS .24 Develop clear growth strategy 24 Take safety and security measures 25 Improve public infrastructure 26 Attract more resources 27 Raise public awareness 27 CONCLUSION 28 REFERENCES .29 ABSTRACT In recent years, there has been a significantly increasing demand of the night service economy for domestic and international tourists Despite the high growth in visitor numbers, a few want to return or the stay is also short, partly due to the lack of night services at tourist attractions Many experts consider the night-time economy will attract more tourists, especially foreign tourists The night-time economy is not a new concept in many countries around the world but it is still not popular in Viet Nam The night-time economy contributes significantly to the economic growth of a country, creating many jobs, and better-serving people’s lives While the major destinations in the world, typically in the cities of Paris, Toulouse (France), Zurich (Switzerland) or Amsterdam (Netherlands), Tokyo (Japan), earned many billions of dollars from developing the night-time economy in association with tourism, in Vietnam, the night-time economy is still small and has not been properly planned from the perspective of state management to people's livelihood In many places, the night service is spontaneous only at the request of residents and visitors In VietNam today, the night economy is receiving the attention of many experts and policymakers, although this activity is still in its formative stage Realizing the importance of the problem, our group decided to choose the topic: "The night-time economy - an irresistible attraction for Vietnam" to analyze the current situation of advantages, disadvantages, opportunities, and challenges for cities of Vietnam in attracting tourists every year, and propose some measures to help develop the night-time economy in Vietnam, especially in the post - Covid 19 epidemic situation CHAPTER I : OVERVIEW OF THE NIGHT-TIME ECONOMY Concept of the night-time economy Night-time economy is services, business, and activities that are held from pm to am The Night-time economy is a subset of the cultural economy Actors in the night economy include bars, dance clubs, karaoke establishments, parties, live music performances, and other forms of night entertainment (excluding the prostitution industry) These activities are entertainment business activities that satisfy the needs of tourists and also activities that take place at night to serve the business, consumption, and entertainment needs of local people Economic development at night is increasingly concerned because it contributes to making the most of time, diversifying economic activities In fact, it serves people’s lives better, attracts tourists, and creates more opportunities for economic growth from countries around the world Moreover, from countries around the world, the night economy has brought great values: promoting economic and social life, creating surplus value, and contributing to attracting foreign currency The diversified night-time economic services require a large number of workers in many different job positions, thereby creating many jobs Furthermore, the development of the night-time economy could attract more investors into entertainment and shopping facilities, increasing economic resources for the local economy Many big cities are also known as "non-sleeping cities" with vibrant activities at night as well as day History of the night-time economy The concept of a night-time economy or a 24-hour city has been around since the late 1970s, especially in Europe The series of cultural events in the summer evening in Rome (Italy) in 1977 was one of the first initiatives about the 24-hour city (Binchini, 1995) In the 1990s, some major cities in the UK such as London, Manchester did not consider the night as negative space (overconsumption of alcohol, crime, street violence) and turned to the beginning of estimating the value of the night economy Contemporary night-time economics began to emerge as early as in China in 1979 and caught the attention of policymakers and scholars in the West But its growth was still slow in the 1980s and early 1990s In the second half of the 1990s, the night economy expanded exponentially as urban Chinese tended to consume cultural products Young people enthusiastically embraced the club culture, the nightlife culture that was dominating the globe at the time After a brief period of harsh repression in 2000 and 2001, China's night economy entered another era of rapid growth In contrast to the 1990s, the current period of growth enjoys significant support from all levels of government, is socially recognized, and receives a positive response in the mass media Since the late 2000s, China's night economy has been commercially successful, culturally vibrant, and has a distinct nationwide presence The night-time economy in Vietnam developed quite late in the 2010s In recent years, it has prospered, but in general, it is still poor and backward Characteristics of night-time economy The form of the night economy is a model that includes food, art, music, entertainment programs, festivals, events to tourist attractions only at night The night economy has a close relationship with the market economy, especially the tourism economy This is a combination of the two main driving forces is economy and culture, in which the most popular types are relaxation, entertainment, services, and tourism Whether in a major capital city or a small market town, there are key features of a great night time economy First, it attracts every sector of the population, regardless of age, race, gender, sexuality or physical or mental ability Second, it caters to every interest, whether that is eating, drinking, dancing, music, performance or merely gathering Third, it is attractive to all income groups Nobody should be excluded from the night time economy on grounds of wealth Fourth, it should be accessible, whether by public or private transport, or on foot, at all hours Fifth, it should be safe and amenable, through good signage, lighting, access and security; for a diverse range of users throughout the day and night The principles are easy to state The goals can only be attained through partnership, planning, and investment CHAPTER II: THE NIGHT-TIME ECONOMIC DEVELOPMENT IN WORLD CITIES The night-time economy in European Union and the United Kingdom As cities around the world begin to open out from lockdown, the predictions of how many night-time venues will remain shuttered if government support is not forthcoming make for grim reading Cities may value the money and jobs generated by their night-time economies, but not always their cultural value, is the message from those in the industry Too often, music, for example, is seen as entertainment rather than culture, apart from in more progressive cities such as Berlin Closures of small venues in London, for example, have been happening for years, as venues are pushed over and out like dominoes, by skyrocketing rents and a dearth of government policies to support them The outcome is a fragmented scene spread out across the city, even though a few new venues have opened, including the 6,000-capacity in South London Pre-Covid, the night-time sector was delivering millions if not billions of dollars, pounds and euros to city economies For New York City, the night-time economy brings in US$35.1bn a year and has created 300,000 jobs In London, the night-time economy accounts for 723,000 jobs, with a pre-Covid forecast of an additional 66,000 positions by 2026 The Sydney night-time economy could grow by 60% to AU$43bn if the city nurtured and supported night-time infrastructure and activities more effectively While lockdown slowly starts to ease, representatives of night-time economies around the world have been regrouping digitally to share how to reopen and reimagine the role of night-time economies in urban living Where some people see closures, others see opportunities: the opportunity to add ‘content’ to the built environment The night-time economy is about looking at real estate as a platform, with the need to create the content, rather than looking at real estate as an asset, which makes cities resilient In the United Kingdom, the night-time economy is a growing part of its economy Nationally, it is the UK's fifth-biggest industry, accounting for at least 8% of the UK's employment and annual revenues of £66bn, according to the NightTime Industries Association The night-time economy is an opportunity to revitalize urban areas that become deserted at night For instance, by organizing food festivals along with restaurants and bars in the city center, cities like London can retain more people in these commercial areas, reducing the number of commuters that return home right after work This not only results in greater revenue for these businesses but also, helps alleviate rush-hour congestion According to TBR’s Night-Mix Index, the night-time economy in the UK employs 1.3 million people and is worth £66bn a year This index analyzes the composition of the night-time economy in different areas of the city by measuring indicators such as the number, type and size of the businesses; the number of people that work during this time frame, the evolution of the area’s night-time economy, and its growth in comparison to other sectors of the local economy Night-time economy in Asia In China, the night-time economy is now a significant part of urban commerce, demonstrating a city's characters and dynamism, is also an important barometer for a city's economic vitality A report issued by the Ministry of Commerce this July said that 60 percent of consumption took place at night The turnover of some major shopping malls between 6:00 pm and 10:00 pm accounted for over half of their daily sales volume Statistics showed the Chinese night-time economy exceeded 30 trillion yuan ($4.64 trillion) in 2020 and is expected to expand to 36 trillion yuan this year At the 2021 Beijing Catering Brand Conference held during the just-concluded China International Fair for Trade in Services, the Beijing Municipal Commerce Bureau announced the operation of 10 featured night markets in Beijing and launched a dynamic map for the capital's consumer services for better development of the nigh-time economy It marked a second time for the Bureau to announce featured night markets in the city Besides, cities in China have also tailored their own "golden signboards" for night-time economy, such as the light shows above the Yangtze River in Hubei's Wuhan, and the scenic belt featuring the Qinhuai River and Fuzimiao, or what's known as the Confucius Temple, in Nanjing, east China's Jiangsu province The night-time economy covers a wide range of businesses and diverse consumption scenarios, including business types that hold dear both day and night operations, such as restaurants and malls, as well as those that generally welcome only late-night customers, such as pubs and karaoke bars In Japan, the country has seen a surge of tourists in recent years, welcoming 30 million in 2018, after crossing the 20 million thresholds for the first time in 2016 The government has recognized the cultural and economic benefits of tourism and aims to attract 40 million visitors in 2020 when Tokyo hosts the Olympics and Paralympics Officials estimate this number would add up to 74 billion dollars in spending on sightseeing, dining, shopping, travel, and other activities However, the average spending per traveler has fallen for three years in a row Tourism officials believe one way to get visitors to once again splash the cash is to promote night-time activities and make them more accessible Japan is trying to become more tourism-driven by attracting tourists from abroad and through that, increasing spending Tourists spend the most on transportation, and the second most on accommodations After that comes money spent on food and leisure, but this amount is low An incredible amount of shopping is done by tourists from other parts of Asia, but once this calms down, the issue will become how we increase spending Looking at that, we can see that the pattern of how time is spent during the day has already been decided to a certain extent, but the time before and after that, especially the night, has become a focus For example, where you go next after dinner: to drink at a bar, to watch a show or to see some art In these activities, there is another hour or two of inbound tourist spending that is possible Da Nang is considered as one of the cities with great potential for night-time economic development, with the traffic infrastructure, facilities, activities and services at night basically synchronously formed The tourism environment is safe and friendly, attracting a large number of domestic and foreign tourists to visit and relax every year In recent years, a number of entertainment and night service activities have gradually formed in the area such as: An Thuong tourist area, Son Tra night market, Helio, Sun World Danang Wonders tourist area Quang Ninh is also a province that has made great efforts to develop the night economy in recent years With the determination to build Quang Ninh into a vibrant and attractive destination, making full use of daytime infrastructure, creating jobs and income for people, in June 2020, the Provincial People's Committee issued a document Directive of departments, branches and localities to develop night economic development projects in the province The point of view is to maximize potential, differentiate advantages, and differentiate products, based on three main pillars: nature, people, and culture Following the direction of the People's Committee of Quang Ninh province, departments, branches and localities have reviewed and selected organizations to exploit areas and services Specifically, Ha Long is considered to have many advantages when there are many spaces for tourists to visit, shop and entertain at night City Ha Long plans to choose Tuan Chau Island, October 30 Square, a pedestrian street at Sunworld Tourist Area connecting Marina Square, Hung Thang Ward Night Market, Clock Tower area to build and develop types of services for the night economy These locations all have the advantage of infrastructure, which can develop all service areas such as entertainment, entertainment, dining, shopping and tourism 16 Outside of Hanoi, Ho Chi Minh City, Da Nang, Quang Ninh, some other provinces and cities such as Da Lat, Phu Quoc, Nha Trang, Vung Tau have developed tourism, also formed night economic activities and initially obtained a certain effect Statistics show that in 2019, Phu Quoc night market attracted 3,500 visitors and the average spending increased to 150 USD/person/night Thus, the product "night market" of Phu Quoc alone has earned more than 10 billion VND for the locality per night In general, excluding 2020 due to the impact of the Covid 19 pandemic, in recent years, revenue from the accommodation, catering and tourism services, which are night-time economic services, has increased steadily In 2015, overall income for each industry climbed by nearly three times compared to 2010, and by 2019 it had grown by nearly two times In recent years, these services have grown at a quicker rate The tourist sector, which has invested heavily in Vietnam in recent years, has had a considerable impact on the expansion of travel services Despite the industry's general expansion, the significance of night service operations should be recognized This event also demonstrated the possibility and impetus for the night-time economy to flourish rapidly in the near future Surveys of foreign experts show that revenue from tourism products and services accounts for only 30% during the day, the remaining 70% belongs to night activities (according to industry and trade magazine) The survey results collected from business activities show that the average revenue from night activities is 62.3% It is an opportunity to develop the night economy 17 Graph 2: Revenue from accommodation Graph 3: Number of enterprises in and food services and travel services the sectors related to night-time (unit: VND billion) economy Source: Statistical Year Book 2019 Source: Statistical Year Book 2019 Along with rising sales income, the number of firms providing travel services, entertainment, lodging, and culinary services has risen as well Within years, the number of enterprises providing lodging and catering services has expanded by more than twofold, while tourist and entertainment services have increased by almost thrice These firms not only provide night-time services, but also demonstrate the potential for boosting Vietnam's night economy In terms of average daily spending by local and foreign visitors in Vietnam, it can be shown that this amount of spending rose only marginally but unevenly during the lengthy period from 2009 to 2019 In comparison to other countries in the area, this amount of spending is modest The cost of lodging, meals, and transportation is the greatest expense in the spending hierarchy International travelers spent more money per day on average in 2019, while domestic visitors spent less This might be attributable to the night economy's participation, as well as the rise in tourism quality 18