Foreign visitors at the Cu Chi Tunnels in HCM City. — VNS Photo Thu Hang

The number of foreign tourists visiting HCM City in the first quarter of the year plummeted by 42 per cent compared to the same period last year to 1.3 million due to the novel COVID-19 pandemic, resulting in a loss of revenues of nearly VND10 trillion (US$427 million), according to the city Department of Tourism.

The revenues were down 26 per cent to VND 25.6 trillion ($1.1 billion).

In March alone the number of tourists fell by 84 per cent to 117,000, resulting in a 65 per cent fall in revenues to VND3.5 trillion ($149.9 million).

Travel firms have closed their offices and allow employees to work from home, and are not accepting new bookings, according to the department.

Tourism accommodation and catering services saw a drop of 30 per cent in revenues in the first quarter to VND19.8 trillion ($846.6 million).

Nguyen Thi Anh Hoa, deputy director of the department, said the department was working with the State Bank of Viet Nam to help tourism businesses borrow from the Government’s COVID-19 stimulus credit package. — VNS