The net profit margin of travel companies is very low. Payment for tours that were purchased a few months ago was temporarily made based on the US Dollar exchange rate at the time of sale. The surge in the value of the U.S. dollar has become a big burden for businesses, said Mr. Nguyen Huu Loc, sale manager of Golden Smile Travel said.
Large groups of tourists and high-value tours will significantly affect the cost of organizing trips. If the interest rate is still rising, enterprises will launch solutions, such as fixing the equivalent exchange rate at the time of signing the contract with group tours, collecting surcharge fees, or refunding when the exchange rate changes, said General Director of Vina Group International Travel Joint Stock Company.
The company has not yet issued measures for individual clients because tour prices are made with Vietnamese dong and sold 3-6 months ago, he added.
Ms. Nguyen Xuan Vy, sales manager of Trieu Hao Travel Company said that the business has adjusted the price of outbound tours by up to two percent.
Other travel agencies have also made an price adjustment of outbound tours of 2-5 percent starting November.