Vietnam welcomes a boom in visitors
With an influx of travelers, the southeast Asian country is seeing growth in resort development.
With eight UNESCO World Heritage sites, a rich history, spectacular beaches, and delectable local cuisine, Vietnam is experiencing a boom in tourism, which has increased by 110 percent during the last five years. As tourism grows, there’s more development in the cities of Nha Trang, Da Nang and Phu Quoc. “Coastal locations such as Nha Trang and Da Nang will become the most attractive destination in the next five years for tourism real estate,” says Daniel Tan, director of business development for southeast Asia at RCI Asia Pacific.
Vietnam is ranked seventh among the world’s top 20 fastest-growing destinations by the United Nations World Tourism Organization, and its international arrivals have tripled over the past decade. “Unlike places like Bali, Phuket, or Bangkok, which have been popular tourist choices for many decades, destinations such as Hanoi, Hoi An or Da Nang are new spots within Asia that travelers can explore,” Tan says.
With such attractive destinations, there is opportunity for developers to meet the growing demand of international and domestic tourists. And demand is growing: the number of RCI affiliates in Vietnam has increased by 60 percent during the past five years, and the number of exchanges into the country grew 110 percent during the same period.
“Within Asia, Vietnam is a popular choice for a short getaway either as a couple or with a group of friends,” Tan says. “The growth of budget airlines and new routes to different cities within Vietnam has also made the country a convenient holiday destination of choice.” The Vietnamese government has implemented several favorable policies for the development of the tourism sector, including the launch of an e-visa program for nationals of 40 countries in February last year, with the goal of making entry into Vietnam easier and less expensive.
Image credit: courtesy of Naman Retreat