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Vietnam has undergone an astonishing 30 years of development. The World Bank's outlook for the Vietnamese economy remains highly positive, with average GDP growth of around 6% forecast annually until 2020, whilst Oxford Economics forecast that by 2020 Vietnam’s economy will be growing faster than China, Indonesia, Malaysia, Philippines, Singapore and Thailand. Economic and political reforms have spurred rapid growth, previously high inflation is now under control with the average inflation rate in 2014 – 2016 standing at 2.5% and the exchange rate being stable over recent years. 

These factors continue to transform the country, with the middle class expected to grow by 18% from 2016 – 2020, providing one of many catalysts for the rapidly growing tourism industry. Vietnam's wealthiest are also set to get much richer. In fact, the dramatic growth of "Ultra High Net Worth Individuals" in Asia (which is typically regarded as someone with a net worth of above USD 30 million) is set to be reinforced by stellar growth rates in Vietnam, which is expected to see its ultra-wealthy population rise by the highest rate of growth in the world. Vietnam’s rapid economic development has been led by an industrial renaissance, particularly as multi-national manufacturers look to diverse their operations across developing Asia in a so-called ‘China + 1’ strategy.

The political stability, probusiness environment and ‘golden age’ demographics which see 25% of the population being between 10 and 24 years of age has attracted a range of investors from neighbouring Asian’s nations including South Korea, Japan, Taiwan and Singapore. In terms of Vietnam’s accommodation demand, there were over ten million international arrivals into the country in 2016, a 26% increase on the year prior. 

This is the first time Vietnam welcomed over ten million foreign visitors, reflecting the country’s growing status as a business destination and tourist hotspot, this is set to double by 2020. The industrial renaissance has driven corporate demand for hotels across the country, whilst visa exemptions, the introduction of new direct air routes and improved marketing efforts have boosted the country’s appeal to leisure travellers. Like much of Southeast Asia, leisure demand has been driven by Mainland Chinese tourists which hit a record last year in terms of arrivals growth.

After analyzing the current rate growth rate of hospitality sector in the region, we at Bricsa Consulting are proud to announce our “Global Hotels and Resorts 2017”, a 2 day strategic conference that is scheduled to be held on 4th-05th December, 2017 at The Reverie Saigon Hotel, Ho Chi Minh City - Vietnam. The conference focuses on creating a platform for hotel developers to not only explore business opportunities in the Asia Pacific region but also to get in-line with the key market trends in the hospitality industry across the globe and ways in which we can tackle the diversifying market.

Highlights of the conference include:
• Exploring investment opportunities in the hospitality industry across the Far East region
• Identifying the significant market trends in the competitive hospitality market
• Understanding the needs of a diversifying market and discussing ways to tackle it
• Over viewing policies and framework for land acquisitions and mergers in the regional context
• Networking with the government authorities, major hotel developers, consultants and solution providers

To download the updated agenda, connect on adnan@bricsaconsulting.com or you can check our website link.