Being a familiar destination for domestic and foreign tourists since the 1990s, however, Phan Thiet's tourism activities in recent years have been somewhat quieter than other coastal destinations such as Khanh Hoa and Da Nang. As of March 2021, the area currently has 51 mid-scale and above accommodation establishments operating, providing the market with about 5,800 rooms; compared to Khanh Hoa and Da Nang, this supply only accounts for 20% and 30% of the number of rooms here, respectively.
“Compared to the strong growth rate of supply in Da Nang, Khanh Hoa and Phu Quoc in recent years, Phan Thiet is considered a “sleeping princess” with very few new projects and most of the supply on the market is small-scale resorts operated by the investors themselves - accounting for 92% of the total number of rooms currently on the market" - Mr. Mauro Gasparotti - Director of Savills Hotels APAC shared. "In addition, the operation of accommodation facilities currently depends heavily on domestic demand, accounting for nearly 90% of annual guest stays. However, with the impact of the Covid-19 epidemic, the business activities of local accommodation facilities have been affected when most resorts recorded a decrease in room occupancy rates of more than half compared to the 65% - 70% achieved in 2019".
Mr. Mauro Gasparotti, Director of Savills Hotels APAC
Mr. Louis Walters - CEO of Sailing Club Leisure Group commented on the local tourism potential: "Although Phan Thiet is a famous destination for international tourists, it is gradually becoming less attractive compared to other destinations due to the lack of diversity in entertainment activities and cultural experiences. The implementation of infrastructure projects in the coming time such as the Phan Thiet - Ho Chi Minh City expressway and the nearby airport is expected to help Phan Thiet attract a large number of international and domestic visitors, contributing to promoting local tourism activities".
Source: Savills Hotels APAC
In recent years, Phan Thiet has been attracting the attention of many regional and international management and operation units. These investments are expected to increase the attractiveness of the market through providing a variety of resort products as well as increasing recognition for international tourists.
According to Mr. Henry Gray - CEO of Azula International PTE Ltd - Azerai: “There have been many projects implemented in the area, but there is a lack of diversity in overall planning, project models and products to exploit tourism potential and convey local characteristics. Therefore, the area needs to focus on developing more entertainment facilities such as restaurants, bars, shopping stores, sea sports activities, etc. to complete the tourism ecosystem, bringing more diverse experiences to tourists. In addition, public facilities also need to be taken care of to meet the basic needs of tourists, including medical services, transportation, hygiene and security factors”.
Phan Thiet Tourism - Ideal Short-Term Destination
"To achieve the goal of sustainable development with a medium and long-term vision, local authorities and investors need to cooperate closely with competent consulting, management and architectural planning units to be able to offer tourism products that meet market needs while exploiting the potential and characteristics of the locality," Mr. Mauro emphasized.
