Vietnam to invest $ 42.5 b in tourism

Vietnam has announced plans of investing an estimated US$ 42.5 billion over the next 10 years to develop tourism infrastructure. The plan is designed to increase domestic tourism from 28 million trips to 50 million by 2020 and international tourism from 5.5 million to 10.5 million arrivals by 2020.

Vietnam National Administration of Tourism (VNAT) Deputy Head, Hoang Thi Diep was quoted in Travel Daily Asia as having said that the State would provide approximately 20% of the total funds while the rest would come from local and foreign investors. Hoang added that the country was looking at developing sea tourism, MICE, eco-tourism and medical tourism, prioritising infrastructure development.

The country’s tourism industry has drawn many foreign investors, particularly interested in hotel and resort development. An integrated casino resort to be developed in Phu Quoc has been announced recently and another major integrated resort is in the works for Ho Tram.