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This collaborative effort has helped Vietnam become a safe and attractive destination for international tourists, creating a solid foundation for the promising development of the real estate and resort industry in the future.
In 2024, Vietnam welcomed nearly 17.6 million international tourists, a 39.5% increase compared to the previous year and nearly reaching pre-pandemic levels in 2019. Asia remained the main source market, with South Korea leading the way, contributing nearly 4.57 million visitors. Meanwhile, Chinese tourists saw a strong recovery, reaching 3.74 million, a 114.4% increase compared to 2023, but still not returning to pre-pandemic levels.
Mr. Mauro Gasparotti, Senior Director for Southeast Asia, Hotel Advisory, Savills Hotels and founder of the MTE conference series, shared: “2024 witnessed a strong recovery of the tourism industry in Vietnam. Ho Chi Minh City and Hanoi led the country in tourism revenue, while key coastal destinations such as Nha Trang - Cam Ranh continued to record exceptional growth in the number of international visitors, increasing by 125% compared to the previous year. Phu Quoc also saw a tourism boom in the last months of the year, thanks to the increase in direct international flights. This growth trend is expected to continue, especially with Phu Quoc being chosen as the venue for the APEC 2027 Conference.”
The hotel market in Ho Chi Minh City also saw a significant recovery in 2024, with occupancy rates and room rates continuing to grow steadily, especially in the high-end hotel segment managed by professional hotel operators. This is due to the limited supply of new hotels while the number of tourists continues to grow. This indicates that Ho Chi Minh City still has room to develop additional new supply.
Ms. Uyen Nguyen, Head of Consulting at Savills Hotels, said: “The hotel industry in Ho Chi Minh City is facing an opportunity to transform with the development of urban infrastructure. Once Long Thanh International Airport and the connecting metro lines are completed, getting around the city will become more convenient for both domestic and international tourists. This will not only boost demand for long-term stays but also increase hotel demand in suburban areas, while enhancing Ho Chi Minh City's attractiveness for MICE tourism. Hotels located near metro stations will benefit from this increased demand, thereby driving the development of new projects in locations with convenient connections to the metro system.”
Regarding the capital market, Vietnam continues to attract the attention of investors, particularly from the Asian region and private equity funds. However, the number of transactions remains limited due to complex legal barriers and challenges in ownership structure, prolonging the negotiation process. Properties located in major cities with strategic locations and key infrastructure connections remain the most sought-after, as investors prioritize assets with long-term value appreciation potential and stable business operations.
Mr. Gasparotti added: “The hospitality industry has shown impressive growth globally, demonstrating strong resilience after the crisis, making it a promising sector for future investment and development. The development of technology, particularly artificial intelligence (AI), is and will continue to create breakthroughs in the tourism and hospitality industry, optimizing operational processes and enhancing personalized experiences for travelers. This is the right time to reassess the industry as a sustainable and long-term investment opportunity.”
Products such as branded residences, ultra-luxury housing projects, rooftop bars, beach clubs, wellness resorts, and membership clubs have been showcasing the perfect blend of real estate and hospitality. These trends will continue to drive the growth of the real estate and hospitality industry in Vietnam, especially as many leading international brands are expected to enter the market.
According to Mr. Gasparotti: “Besides luxury and ultra-luxury projects, Vietnam may see an increase in branded residences in the mid-range segment. This is a new trend, different from other markets in the region. This diversification of the segment offers more choices for buyers, but also carries risks – if projects do not meet brand standards, it could negatively impact customer perception of the value and prestige of branded apartments.”
Many fascinating topics such as market overview, risk and investment opportunity analysis, wellness real estate, sustainable development, the ultra-luxury housing segment, and new technologies shaping the resort industry will be updated and discussed at the upcoming MTE (Meet The Experts) Conference on March 18, 2025, at Vinpearl Landmark 81 Hotel, Autograph Collection, Ho Chi Minh City. Besides useful thematic content, the Conference will also provide a platform to connect international investors with developers and offer the latest market insights.
Mr. Gasparotti emphasized: “The MTE conference is not only a place to connect businesses and individuals in the hospitality and real estate industry, but also to foster collaboration, providing insightful perspectives to help investors, hotel owners, and industry partners seize opportunities and prepare for the next market cycle.”
Some of the key themes at MTE HCMC 2025 include:
- Real estate business in Vietnam: Are profit opportunities becoming more abundant? (Hieu Do, CFA - Managing Director, VinaLiving)
- The wellness real estate trend in Vietnam: A healthy lifestyle (Khanh Nguyen - Director of Investment & Commercial Vietnam, Gamuda Land)
- Vietnam Residential Real Estate Spotlight: 2025 Trends & Market Preferences (Duong Bach - Country Director, PropertyGuru Vietnam)
- Discussion session on the Vietnamese resort market (Representatives from Accor Hotels Group, SonKim Land, Minor Hotels, Sovico Hospitality Group, Masterise Group, M Village, Fusion Hotel Group, Club Med)
- Real Estate Market Discussion: Regional Capital Flows & Vietnam's Prospects (Representatives from Savills Vietnam, Lodgis Hospitality, Ares Management Corporation, Indochina Capital, Kusto Home (Vietnam), SC Capital Partners Pte Ltd, Group GSA)
- Global & Regional Hotel Market Update (Jesper Palmqvist - Vice President Asia, STR CoStar)
- Asian Hotel Industry Spotlight & Investment Opportunities (Mauro Gasparotti - Senior Director Southeast Asia, Hotel Advisory Division, Savills Hotels/Director, WeHub)
- Trends in the development of high-end integrated resorts: Lessons learned from Anantara Layan Phuket Resort (Yasin Munshi - Vice President of APAC Regional Development, Minor Hotels)
- Branded Residences & the Ultra-Luxury Housing Segment: An Investor's Perspective (Otto Twist - Southeast Asia Regional Director, Residential Sales Department, Savills Singapore)
In addition to the conference program, MTE HCMC 2025 also offers experiences in the latest hotel technology and unique cuisine, the HoSkar Night networking event, and various other activities within the program framework. MTE HCMC 2025 will provide attendees with insights, market updates, and opportunities to maintain and expand business in the industry.
