Actualités économiques, EVBN, Publications |
Published by EVBN, 2018, 46 pages
Vietnam is considered to be one of the ASEAN’s most attractive markets for foreign investors with a steadily increasing GDP and booming foreign direct investment, a pattern that is forecasted to remain stable in the upcoming years. Nominal GDP in 2018 is estimated to reach €208.1 billion, recording a y-o-y growth rate of 6.7%. The country’s nominal GDP is forecasted to attain €248.8 billion in 2020.
The hospitality industry in Vietnam is looking promising with many foreign investors intending to enter the market. The performance of the accommodation industry and the food and beverage industry is impressive. Between 2012 and 2016, the luxury hotel segment grew at a CAGR of 19%, reaching €1.08 billion in total room revenue in 2016. With many high-end projects in the pipeline, the accommodation industry is expected to continue growing healthily. Meanwhile, the food and beverage industry was valued at €19.688 billion in 2016 and is expected to continue growing at CAGR of 13% until 2019. Both industries offer a myriad of opportunities for foreign investors.
The country’s recent rise to middle income level (GDP per capita reached over €2,000 in 2017 and is forecasted to reach over €2,500 in 2020) has enabled Vietnamese people to spend more on travel, high-end hotels and resorts, and restaurants. The hospitality industry is further boosted by the expanding tourism industry, which enjoys a growing number of inbound tourists. Finally, social trends such as health and wellness, as well as a growing concern for food safety are driving the hospitality market upward.
First, this report will look at the growth potential of Vietnam’s hospitality market over the next five years, with a focus on the accommodation and food and beverages industry. Then, this report will assess what impact the EU-Vietnam Free Trade Agreement (EVFTA) has had on this industry.
CHAPTER 1: VIETNAM OVERVIEW
CHAPTER 2: OVERVIEW OF HOSPITALITY IN VIETNAM
CHAPTER 3: COMPETITIVE LANDSCAPE
CHAPTER 4: PROFILE OF END CONSUMER and DISTRIBUTION CHANNELS
CHAPTER 5: REGULATORY AND LEGAL FRAMEWORK