Vietnam is the world’s gateway to Indochina, rich with culture, history and stunning natural beauty. With 3,260 kilometres of stunning coastline and 125 beaches along with an abundance of heritage attractions, the country is a paradise for sun worshippers, cultural enthusiast and city explorers.
Counting five UNESCO World Heritage Sites throughout the country, Vietnam is blessed with cultural attractions and has maintained its historical appeal, preserving remnants from the Cham Kingdom, imperial dynasties and the French colonial era. As Vietnam’s past has influenced its future, the country’s history-laden streets are afresh with the magical charm and exotic allure that has attracted visitors for decades.
In the past 20 years, since the economic reforms in the late 1980s, Vietnam has been transformed into a vibrant society with positive economic growth and a buoyant consumer society.
For the past several years, Vietnam has emerged as one of South-east Asia’s greatest success stories for economic progress, posting among the highest growth in GDP throughout the region. The country has attracted the global investment community, who has been pouring record levels of Foreign Direct Investment into the country.
After only three years of officially becoming a WTO member, Vietnam has attracted US$114 billion in registered foreign direct investment (FDI). According to the Foreign Investment Agency under the the Ministry of Planning and Investment, from 2007-2009, Vietnam attracted more than 4,000 foreign invested projects with registered capital of over $114 million, nearly 4.5 times higher than the target planned for five-year period from 2006-2010. Food and beverages and residential services ranked first among sectors in 2009 with total registered FDI of $8.8 billion. With $7.6 billion, real estate and hospitality sectors claimed second position and put the manufacturing and processing sectors, which previously held top position, into the third place.
Since the opening of its economy to the world markets in the 1990s, Vietnam’s travel and tourism sector has experienced unprecedented growth. In 2008, the tourism industry generated more than US$ 4 billion in tourism receipts, indicating the importance of tourism industry in Vietnam’s economy, based on recent increases in foreign arrivals. Vietnam is one of the most popular tourist destinations in the Asia-Pacific region. Recently, World Travel and Tourism Council (WTTC) named Vietnam as the world’s fourth fastest-growing tourist destination (projection based on travel & tourism demand 2009-2018). In 2008, the country recorded around 4.25 Million foreign visitor arrivals.
As the country develops as a top-tier leisure destination, investors have turned to Vietnam’s vacation home property market, as an attractive investment grade asset class. Through a series of recent reforms designed to ease regulations, the government has liberalised property ownership laws in favour of foreign interests, demonstrating a commitment to developing a globally competitive property sector.
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