Vietnam's tourism industry sees healthy boost

Real Estate consultancy CBRE released a report titled "Hotel Investment & Management in Viet Nam – Lessons from Across Asia," finding that there is a greater interest in investing in Vietnam's hotel sector due to the improvement of the country's economy.

According to Vietnam Net, buyers are becoming apparent as investor interest grows in looking for quality hotels based in Southeast Asia. Development and purchase costs continue to rise in areas such as Hong Kong, Singapore and Tokyo, prompting buyers to look for investment opportunities elsewhere. 

Slow but steady growth in international tourism has found its way to Vietnam over the past three years. In the first five months of 2014, however, tourism rose over 26 percent, according to the report. 

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Occupancy rates in Ho Chi Minh City and Ha Noi are now inching closer to that of cities such as Jakarta and Kuala Lumpur. While there is an increase in hotel supply predicted for both Ha Noi and HCM City over the next three years – around 8 percent in total – this is less than the number of projects proposed for Kuala Lumpur and Jakarta, where supply may grow by 20 percent and 40 per cent respectively if all the proposed projects proceed.

According to Bernama, the political turmoil in Thailand could also be providing a boost to Vietnam's tourism industry.

"The longer term outlook appears positive at present. The quality of infrastructure and hotels has improved considerably over the last few years and this has led, and will continue to lead, to a more stable and resilient tourism market," CBRE Hotels (Asia Pacific) executive director Robert McIntosh said. "Hotel performance is expected to improve in the medium term and foreign investors are increasingly attracted to the opportunities and returns Vietnam offers."

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