Vietnam’s tourism recovery is good for hotel investment

The Thai newspaper, Bangkok Post, has recently run an article saying that Vietnam's tourism industry witnessed a slight recovery in September, prompting property consultants to recommend that investors begin tapping into the country's lucrative industry.

The newspaper quoted recent statistics from the Vietnam National Administration of Tourism indicating that the number of tourists in September rose by 2.7 percent compared to the same period last year while FDI capital in tourism and hotel projects reached US$4.7 billion in the period from January to September.

CB Richard Ellis Vietnam manager, Mauro Gasparotti says that amid the adverse impact of the global economic-financial crisis Vietnam’s hospitality sector has remained relatively resilient compared to other regional competitors and is still getting the second highest revenue per available room (RevPAR) in the region.

Mr Gasparotti said that investors from Malaysia, Thailand, Singapore, Russia and Japan are actively expanding their business in Vietnam. They are returning to Vietnam and making full use of its potential and strength, including the diversity of hotel brands and styles, lower prices, additional liquidity, stable economic environment, improved infrastructure and investment incentives.

vov

>   US$6.6 billion invested to foreign countries (12/10/2009)

>   APEC pledges to support SMEs surmount crisis (12/10/2009)

>   Forum to promote role of business circles (12/10/2009)

>   Vietnam sets higher taxable prices for imported cars (10/10/2009)

>   Red tape puts wraps on investments (09/10/2009)

>   Record rice exports expected this year (09/10/2009)

>   Cocoa prices rise sharply (09/10/2009)

>   Work construction on Dau Giay industrial park begins in Dong Nai (09/10/2009)

>   Rubber export value bounces back (09/10/2009)

>   First direct flight route between Jakarta, HCM City opened (09/10/2009)