Vietnam Surges as Asia's Top Tourism Destination

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Vietnam’s Tourism Sector Gains Momentum

Vietnam is witnessing a remarkable surge in its tourism industry, driven by both domestic travel and a significant recovery in international arrivals. This growth has solidified the country's status as one of the fastest-growing tourist destinations in Southeast Asia. According to a report from Savills Hotels and the international law firm Watson Farley & Williams, the nation is on track for continued expansion.

In 2024, Vietnam welcomed 17.6 million foreign visitors, and by the first nine months of 2025, the number had risen to 15.4 million. These figures suggest that the country is well-positioned to meet its target of 25 million foreign visitors by the end of the year.

Hotel Room Growth and Regional Distribution

As of the third quarter, Vietnam has more than 192,000 midscale-to-luxury hotel rooms. This represents a compound annual growth rate of 10.9% over the past decade, one of the highest in the region. Approximately 60% of these rooms are located in coastal areas, highlighting the strong emphasis on resort-style tourism.

Key destinations such as Da Nang and Nha Trang have seen impressive occupancy rates, often exceeding 70–75%. Meanwhile, Phu Quoc has recorded year-on-year occupancy gains of 10–15%, further demonstrating the appeal of Vietnam’s coastal regions.

Investor Confidence and Market Dynamics

The strong rebound in tourism has led to increased investor confidence. With new hotel supply slowing down and demand shifting toward premium offerings, investors are showing renewed interest in the market.

Currently, domestic developers control nearly 90% of the existing hotel stock, and about 68% of hotels remain owner-operated. This situation presents numerous opportunities for refurbishment, repositioning, or management contracts with international hotel brands.

The number of foreign hotel brands operating in Vietnam is expected to grow significantly, rising from 90 currently to over 130 within the next three years. This increase reflects the growing presence of global players in the Vietnamese market.

Focus on Coastal Assets and Redevelopment

Beyond acquisitions, both local and international investors are actively seeking out coastal land and properties with redevelopment potential. The strongest interest is centered on luxury, upscale, and branded-residence projects, which are expected to attract high-value investments.

Major infrastructure developments are also contributing to the growth of the tourism and hospitality sectors. Projects such as the Long Thanh International Airport, expansions at Noi Bai International Airport, and the construction of the Gia Binh airport are enhancing regional connectivity. Additionally, the North-South Expressway is expected to support long-term tourism growth by improving access to key destinations.

Attractiveness to Foreign Investors

Mauro Gasparotti, Senior Director of Savills Hotels Asia Pacific, highlighted that improving demand fundamentals and the growing acceptance of diverse product types—especially in Ho Chi Minh City and Hanoi—are making Vietnam increasingly attractive to foreign investors. These factors continue to position Vietnam as a prime destination for high-return opportunities in the hospitality sector.

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