WHAT MAKES VIETNAM BECOME THE BEST SECOND HOME DESTINATION
WHAT MAKES VIETNAM BECOME THE BEST SECOND HOME DESTINATION
----
IN RECENT YEARS, VIETNAM HAS BECOME ONE OF THE FASTEST GROWING TOURISM DESTINATIONS IN SOUTHEAST ASIA.
The growth has been driven by the entrance of international hoteliers, a rapid increase in direct flights, an improved visa policy and investment into key infrastructure.
Following a historical high of 7.9 million international arrivals in 2015, the number of international tourists visiting Vietnam in the first 8 months of 2016 recorded at approximately 6.5 million, up 25% from the same period in 2015.
Similarly, the number of domestic tourists is also growing at a phenomenal rate of 48% in 2015 and approximately 14% per annum over the last 10 years.
A combination of a thriving economy, a growing middle class, and easier policies to boost demand among expats for homes in Vietnam and attract foreign visitors has spurred the hotel and resort market.
VIETNAM’S COASTAL LOCATIONS ARE A MAGNET FOR INTERNATIONAL TOURISTS
With a tropical climate and long coastline, coastal locations are favourite destinations of international tourists in Vietnam. In the last decade, more than 70% of international visitors spent their holidays along the coast.
From 2010 to 2015, international visitors to Da Nang, Nha Trang, Cam Ranh and Phu Quoc grew rapidly, approximately 23% per year, and accounted for 30% of the total number of tourists in the country.
These locations have seen tremendous infrastructure improvement and tourism-supporting facilities being developed over the years, fuelling even more the growth of Vietnam coastal tourism.
International flights connecting to key coastal cities and newly developed airport terminals help boosting number of visitors significantly. Since 2013, total passenger volume to airports in Da Nang, Khanh Hoa, Phu Quoc has grown by 21%, 34% and 45% per annum respectively.
TOURISM DEMAND HAS BEEN MET WITH COMMENSURATE INVESTOR INTEREST IN THE BEACHFRONT RESORT MARKET
As demand increases, investors have demonstrated growing interest in the beachfront resort market.
Hospitality development throughout the country has been kicked off with fervour and will deliver world-class products, supported by great coastal locations, quality golf courses, world heritage sites and international architecture in outstanding destinations, from Ha Long in the north, Da Nang and Nha Trang in central provinces, to Phu Quoc, Ho Tram and Con Dao in the south.
Since early 2015, many large-scale hospitality investments have started taking shape in coastal regions with participation of renowned developers,
BOTH LOCAL AND INTERNATIONAL.
Projects that are attracting the market’s attention include the US$4 billion Hoi An South Development in Quang Nam, Movenpick Cam Ranh Resort in Khanh Hoa, Vinpearl Resort in Phu Quoc.
The attractiveness of these developments is attributed to their prominent locations, developers’ track records and capabilities, along with good brandings from top-tier international hotel management teams.
Another growing trend is investment in weekend getaway destinations, typically in close proximity and with good access to main cities through newly developed highways, such as Ho Tram, Vung Tau, Phan Thiet, Mui Ne, etc. These destinations have become very popular among domestic travellers thanks to the growing middle-class demand.
Tourism demand has been met with commensurate investor interest in the beachfront resort market
As demand increases, investors have demonstrated growing interest in the beachfront resort market.
Hospitality development throughout the country has been kicked off with fervour and will deliver world-class products, supported by great coastal locations, quality golf courses, world heritage sites and international architecture in outstanding destinations, from Ha Long in the north, Da Nang and Nha Trang in central provinces, to Phu Quoc, Ho Tram and Con Dao in the south.
both local and international.
Projects that are attracting the market’s attention include the US$4 billion Hoi An South Development in Quang Nam, Movenpick Cam Ranh Resort in Khanh Hoa, Vinpearl Resort in Phu Quoc.
The attractiveness of these developments is attributed to their prominent locations, developers’ track records and capabilities, along with good brandings from top-tier international hotel management teams.
Another growing trend is investment in weekend getaway destinations, typically in close proximity and with good access to main cities through newly developed highways, such as Ho Tram, Vung Tau, Phan Thiet, Mui Ne, etc. These destinations have become very popular among domestic travellers thanks to the growing middle-class demand.
Investors with less appetite for development risk have been looking to invest into operating hotels and resorts. The most notable of which is the Aria Da Nang Hotel & Resort project developed by Danh Khoi Real Estate Joint Stock Company at Non Nuoc beach - Top the most beautiful beaches in the world.