Bloom Microventures is pioneering a unique business model which harnesses the power of tourism through microcredit
In developing countries worldwide and in Vietnam particulary, lack of access to capital is a major barrier for small-scale farmers. This lack of available finance makes it harder and harder to scale up their production, grow more products, and make their way out of poverty.
These circumstances often force women to migrate to urban centres to earn a living. In plenty of cases, the migration of women has been found to affect family structures,, increasing the vulnerability of women and their children by taking away their social support network.
By providing low-interest capital to small-scale farmers, benefit the whole community. As the money gets invested in profitable activities, it drives up demand and supply in local markets, as well as freeing up disposable income to be reinvested in the community through health and education.
Every year, tourists spend on average $300 billion in developing countries. This is three times as much as the level of official development assistance given to developing countries (Mitchell and Ashley 2010 ODI Report). However, most of the revenue from tourism doesn’t benefit the local community, but goes to the international hotel and resort owners.
We offer a powerful way for tourism to benefit local communities, by providing a unique opportunity for tourists to learn about life in rural vietnam, and leave the community they visit better off. In this way, all of our guests become personally engaged in the fight against poverty.
We hope that with this unique tour you will have a brilliant tourism experience as well as learning what life is like for many villagers in Vietnam and the great things that microfinance achieves.