Hanoi (VNA) – The investment of domestic and foreigninvestors in tourism infrastructure, especially resort real estates, poor ruralareas have been turned into enchanted destinations for tourists, making Vietnammore attractive to investors.

Boasting 3,260km of coastline with about 400 beaches and thousandsof natural landscapes and relic sites across the country, Vietnam is an idealplace for strategic investors such as SunGroup, Vingroup, FLC andVinaCapital.

Many modern hotel chains meeting international standards have been built, mostly in popular tourist attractions in Hanoi, Da Nang, NhaTrang, Phu Quoc, Ho Chi Minh City and Ha Long.

Meanwhile, many reputable international brands such as Accor,Mariott, Hyatte, IHG, Four Seasons, and Archipelago have marked their presencein Vietnam, contributing to enhancing the governance capacity and tourismservice quality of the country.

According to Dr. Phan Huu Thang, former Director of theForeign Investment Agency under the Ministry of Planning and Investment,foreign direct investment (FDI) in tourism and resort real estate has beenhelpful for Vietnam right from the first years of opening and integration, withthe development of a system of high-end resorts and hotels.

In the recent 20 years, investment in tourism accommodationhas boomed. According to the Vietnam National Administration of Tourism (VNAT),the number of accommodations in Vietnam increased from 12,500 facilities in 2010 to33,330 in 2022, with 667,000 rooms. As of the end of 2022, Vietnam had 215five-star hotels with 72,000 rooms, and 334 four-star hotels with 45,000 rooms.

Statistics from the Vietnam Real Estate Association (VNREA),the country is home to 239 tourism real estate projects with a total value of 681.8trillion VND, or about 30 billion USD.

Su Ngoc Khuong, Senior Director of Savills Vietnam, said thatdespite impacts of the COVID-19 pandemic, the tourism real estate in Vietnam isstill an attractive segment for investor, where they can find previousopportunities to join the Vietnamese market.

In reality, amid difficult situation of the real estatesector, foreign investors, especially those from the Republic of Korea, Japan,Singapore, and Hong Kong (China), have still shown great attention to resortreal estate, especially in the south central coastal region. Many big names suchas Mandarin Oriental, JW Marriott, M Gallery, Le Meridien, Wink Hotels and TheAscott Limited are likely to launch their projects in the region.

According to CBRE, Da Nang drew additional 10projects as of the end of 2022. Binh Thuan expects about more than 5,000vacation villas by 2025, while Phu Yen will provide more 72 villas and hotelrooms to the market by 2026. Experts held that in 2024, the accommodationoccupation rate will recover to the pre-pandemic level of 63%.

According to Ha Van Sieu, Vice Director of the VietnamNational Administration of Tourism (VNAT), this year, the tourism sector aimsto serve about 8 million foreign visitors and 102 million domestic tourists,earning about 650 trillion VND (27.71 billion USD).

The sector plans to announce the Vietnam tourism planningfor the 2021-2030 period with a vision to 2025 right after it is approved. Ithas implemented a marketing strategy until 2030, along with a project tostrengthen the application of new technologies in developing smart tourism andturning tourism into a spearhead economic sector of the country. Acommunity-based tourism project is also underway, said Sieu./.