As Thailand cements its place as Southeast Asia's leading luxury market, the synergy between tourism and retail will remain a defining factor in shaping the industry's future.

Luxury brands are looking for high-quality retail space in District 1 - the downtown area of Ho Chi Minh City, according to Savills Vietnam.

Vietnam pales in comparison with Japan and China in regard to the size of the luxury market, but it has a great potential to become a highly profitable market in the near future, according to Jing Daily, a leading digital publication on luxuries in China.