#06 | Vietravel’s Chairman of the Board : Innovation is the only way to recover from the epidemic


#06 | Vietravel’s Chairman of the Board : Innovation is the only way to recover from the epidemic

“Tourism shows the civilization of a society, the development of an economy, and the preeminence of national culture. So, if we treat tourism superficially, we can consider rejecting all these factors.” – Mr. Nguyen Quoc Ky, Chairman & General Director of Vietravel Group emphasized.

This is also the reason for Mr. Nguyen Quoc Ky to always innovate to break through and fulfill his mission of bringing the best experience to tourists. Join The Next Power to learn how Vietnam’s travel and tourism businesses overcame this storm and innovated into the future in episode 6.


Nguyen Quoc Ky – Vietravel’s Chairman of the Board

Episode 6 of The Next Power talk show brings you to the story with Mr. Nguyen Quoc Ky, Chairman & CEO of Vietravel Group. This is also the first travel agency in Vietnam to own its own airline – Vietravel Airlines.

As the captain of Vietravel, Mr. Ky had left many imprints. Starting with only 7 employees and 6 million VND in the capital, he had “sailed” this ship to grow exponentially and become the leading travel enterprise in Vietnam, with over 1200 employees and an expanded office system in Australia, the USA, Thailand, Singapore, and France.

He had also helped Vietravel overcome many threats to find opportunities such as the Asian financial crisis (1997-1998), the Covid-19 pandemic (2020-2021),…

Overcoming the period of “losing a Camry every day” and “pushing a Rover into the river every week”, he and Vietravel are gradually regaining their form and making a breakthrough.

Founded Vietravel in 1995, since then, Mr. Nguyen Quoc Ky has held many important positions such as: Director, General Director, Chairman of the Board cum General Director,…

Besides being a talented businessman, Mr. Ky is also the Vice Chairman of the Vietnam Olympic Committee (VOC), the President of the Vietnam Tennis Federation (VTF), and the President of the Vietnam Culinary and Cultural Association (VCCA).

He was also honored many times to receive certificates of merit from the Prime Minister and won the title of Typical Vietnamese Entrepreneur. 

Vietravel’s journey from “hibernation” to “active defrost”

“Active hibernation” and lessons learned

The storm during 2020 and 2021 caused enormous damage to the tourism industry. “The situation of the company was pushing a Range Rover into the river weekly, or losing a Camry daily l” – Mr. Nguyen Quoc Ky shared about this period.

During the hibernation period, Mr. Ky said that although it was a travel company, the Group focused on communicating to its customers positive messages so that they could overcome this crisis together.

In addition, Vietravel prioritized focusing on the main stages, maintaining the frame and key parts. The Group also collected and deeply divided representative offices and personnel to focus resources for restructuring.

“Active defrosting” with a circular business ecosystem

Previously, people only knew that Vietravel was a travel company and the ecosystem was not clear, but Vietravel is now positioned to build a diverse ecosystem with 3 big fields: Travel; Air cargo and transport; Trade in Services.

The company cooperates with many corporations and units from hotels, transportation, visa consulting services, tour guides, amusement parks, food courts etc. together “quick defrost” and restore back again.

From the change of mindset and internal structure, new products are created with a new approach to customers. From 2021, Vietravel Airlines is the first airline to have a tour guide responsible for informing tourists of information such as weather, landmarks, and cuisine of the destination. Besides, the company also went through a lot of technological changes with digital transformation.

We have seen Vietravel with its online and offline sales systems for a long time, but after the epidemic, the company closed the offline system and promoted the other one, not only on the web but also on mobile applications as well as on 3 e-commerce platforms, including Tiki, Shopee, and Lazada. 

Nguyen Quoc Ky

The rapid recovery which gains the market share

Vietravel is focusing its resources to exploit all products, including beautiful scenery and cultural values ​​that have not been paid attention to before the epidemic, such as programs such as sunset watching, food discovery destinations exploration, etc.. which attracted a strong response from domestic tourists.

This, in turn, required the involvement of the entire tourism industry and created a circular ecosystem of business.

All of the above changes were made by Mr. Ky and the leadership based on the self-motivation of each person in the group.

There was an idea to change, but it must be communicated for everyone to understand because it affected the lifestyles , the working positions, and even the interests of the workforce and apparatus that had been located before the epidemic.

A sustainable development that makes Vietnam’s tourism professional

Although it is one of the three key economic sectors, we still have not really appreciated tourism. “Tourism shows the civilization of a society, the development of an economy, and the preeminence of national culture. The tourism industry must restructure.” – Mr. Nguyen Quoc Ky emphasized.

This restructuring needs to be embedded in a post-pandemic society with activities becoming fast, low-touch, safe, and technology accordingly must be changed to keep up with the requirements.

Tourists are also seeing the emergence of many new classes of tourists, who are young people, especially Gen Z. Besides, according to Vietravel’s president, the “new normal” period of the tourism industry may return in 2024-2025 due to the healing time it takes 2-3 years.

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