People look at a resort model in Da Nang (Photo: VNA) Hanoi (VNA) – Theimpressive growth of Vietnam’s tourism sector has given a boost to tourism andresort property market, according to experts.
During the 2010-2016 period, the numberof international tourist arrivals in Vietnam doubled to 10 million from 5million. The number of domestic visitors surged considerably, from 28 millionto 62 million.
This period is considered a“golden” time for the resort property market, especially in condotel model,particularly in Nha Trang, Da Nang and Phu Quoc in 2016.
Specifically, Nha Trang welcomednearly 1.2 million foreign tourists, up about 23 percent year-on-year while thecentral city of Da Nang served around 1.7 million vacationers, marking a 33percent increase.
Director of Savills AsiaPacific’s Hotel Consulting Department Rudolf Hever attributed the growth toimproving infrastructure and easier visa policies for foreigners, saying thatVietnam currently records nine international airports which are being upgradedwith more terminals and runways.
Thanks to visa waiver forforeigners, the number of foreign tourists to Phu Quoc, the southern provinceof Kien Giang, soared 25 percent in 2014 compared to the previous year.
The department predicted that hoteland resort supply from midscale to luxury segments will grow 29 percent onaverage per year in the next three years. Similarly, Da Nang and Phu Quoc willsee respective growth of 30 percent and 27 percent.
However, experts warned that occupancyand hotel room prices will be put under pressure if demand is yet to keep pace withsupply so that investors should thoroughly consider expected occupancy andbudget for their projects in the coming years.-VNA
Director of Savills AsiaPacific’s Hotel Consulting Department Rudolf Hever attributed the growth toimproving infrastructure and easier visa policies for foreigners, saying thatVietnam currently records nine international airports which are being upgradedwith more terminals and runways.
Thanks to visa waiver forforeigners, the number of foreign tourists to Phu Quoc, the southern provinceof Kien Giang, soared 25 percent in 2014 compared to the previous year.
The department predicted that hoteland resort supply from midscale to luxury segments will grow 29 percent onaverage per year in the next three years. Similarly, Da Nang and Phu Quoc willsee respective growth of 30 percent and 27 percent.
However, experts warned that occupancyand hotel room prices will be put under pressure if demand is yet to keep pace withsupply so that investors should thoroughly consider expected occupancy andbudget for their projects in the coming years.-VNA
VNA
