Risk Management in Vietnamese Government Institutions: Case of Tourism Industry

Vietnam's tourism industry is one of the fastest growing economic sectors in recent years. However, like all other economic sectors, the tourism industry also faces many risks. Risk management in the tourism industry is extremely important to ensure the sustainable development of the industry. Risks in the tourism industry can come from a variety of sources, including the political situation, weather, accidents, epidemics, crime, markets and many other factors. Risk management in the tourism industry requires care and meticulous planning, from risk assessment, severity determination, prevention planning, to readiness to respond when situations occur. With good risk management, Vietnam's tourism industry can strengthen its ability to respond to bad situations, while minimizing damage to the industry as well as tourists. We hope that risk management will be put first in the development strategies of Vietnam's tourism industry, thereby helping the industry develop sustainably and bringing benefits to both people and tourists.