Vietnam tourism grows amid increasing Chinese tourists

Published on : Wednesday, July 12, 2017

Vietnam tourismDuring the first half of 2017, hotel investors continued to seek alternative opportunistic investments in the emerging tourism market of Vietnam. Hong Kong, Singapore, Sydney and Melbourne remained the focus of investors due to their positive long-term tourism essentials.

Investment in hotels in the Asia Pacific region for the six months running up to July 2017 amounted to approximately US$2.9 billion. Hong Kong and Australia were the standout markets for inbound investment, which amounted to roughly US$1.5 billion.

However, opportunities for acquiring hotels in many destinations in the region remained limited and investors continued to seek alternative investment in the emerging markets of Vietnam and Cambodia, where strong Chinese tourism is driving growth.

After the recent rebranding of the Nam Hai resort in Hoi An, which is now under Four Seasons management, hotel operators are expected to consider locations in Vietnam with greater scrutiny in the near term. There has been a strong interest of foreign investors in the hotel segment of the tourism industry particularly in the cities of Phu Quoc, Nha Trang and Danang. Substantially, this interest is grounded in the rising number of inbound Chinese.

Though tourism in Vietnam is still in its nascent stage, the industry holds the potential for growth, which could possibly translate to good rates of return on investments in resorts if the upward trends in Chinese tourism continue.

A record 2.7 million Chinese tourists arrived in Vietnam in 2016 – a 55% increase over the previous year, according to official statistics.

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