Vietnam saw a record number of international arrivals in 2016 – more than 10 million tourists and a 25% increase over the previous year – and 2017 is already on track to surpass that.
During the first six months of the year, Vietnam recorded more than 6 million international arrivals, 30% increase over the same period a year earlier.
It should be no surprise that the hospitality and property development sectors are expanding to cater to tourists seeking to enjoy Vietnam’s diverse attractions and rich culture.
Much of this growth can be attributed to the government’s renewed focus on developing the tourism industry. Somewhat onerous visa regulations were changed in 2015, and now tourists from a range of European and Asian countries can visit Vietnam for up to two weeks without needing to obtain a visa at all.
Beyond that, the government is investing more in tourism marketing and promotion, as part of a goal for the industry to account for 10% of GDP in 2020, up from 6.6% in 2016. The country is targeting 17-20 million international tourists and 82 million domestic tourists by 2020.
International hospitality players are increasingly looking to Vietnam for opportunities to expand.
Hospitality investment is centered primarily around two tourism hotspots: along the iconic coastlines in central Vietnam – stretching 30 km between bustling Danang and the fabled UNESCO World Heritage port of Hoi An – and the southern island of Phu Quoc. Nearly five dozen new hotels are set to open over the next three years.
At the forefront of hospitality development in Vietnam’s central region is the giant US$4 billion ‘HOIANA’, led by VinaCapital, one of Vietnam’s most experienced and successful property sector developers, and Gold Yield Enterprises Ltd., a joint venture between the Suncity Group of Macau and a private investor from Hong Kong.
With major partners including Rosewood Hotels & Resorts® and a visionary master plan, HOIANA is set to rank among Asia’s most renowned resort destinations, bringing a self-contained world of entertainment, leisure, pleasure and luxury lifestyle.
HOIANA is located to the south of the historic UNESCO World Heritage Site of Hoi An in Quang Nam Province. Stretching 30 kilometres along an iconic coastline on the East Sea, it is also situated near two other UNESCO World Heritage Sites –the Cham Islands and My Son Sanctuary.
The first of several phases is scheduled to open in the first quarter of 2019 and will be headlined by a world-class casino, an ultra-luxury resort by Rosewood Hotels & Resorts®, a 445-room hotel and 200 condos, plus a championship golf course-country club by Robert Trent Jones II.
Recreational facilities will include a beach club and entertainment venue for live shows and events, watersports and dive centre, and a promenade packed with bars and restaurants.
Over the next 10-15 years, HOIANA’s master development plan invites investment in a host of complementary tourism and leisure-related projects envisaged through subsequent development phases.
“The ultimate vision is of a thriving township of hotels, residential and lifestyle zones, a trendy beachfront village and shopping centre, convention centre, hospitality training college, second golf course, water sports hub, and giant lagoon for safe year-round swimming,” said Amy Do, HOIANA’s Head of Business Development.
“Investment opportunities abound in this unrivalled, world class integrated resort and leisure playground, which will set a new benchmark for high-end tourism in Vietnam.”