Korean and Chinese tourists flock to Nha Trang, tourism and retail grow strongly
The strong wave of Korean and Chinese tourists brings huge business opportunities to Nha Trang. The commercial areas here are also busier than ever with the participation of domestic and foreign retail businesses.
Korean and Chinese tourists flock to Nha Trang
In the first 6 months of 2024, Khanh Hoa's total tourism revenue is estimated to reach more than VND 26,072 billion when welcoming nearly 5.2 million overnight guests, up 88% over the same period. Of which, international visitors are estimated to reach nearly 2.4 million, 3.2 times higher than the same period.
Information from online travel sites such as Booking.com, Agoda.com, Traveloka.com… shows that Nha Trang – Khanh Hoa is a favorite destination for international tourists. Therefore, these numbers will increase from now until the end of the year.
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| Nha Trang is the most searched by Korean tourists in Southeast Asia, according to Agoda |
The biggest contributors are visitors from South Korea and China. According to statistics from the Khanh Hoa tourism industry, in the first 7 months of 2024, the province welcomed 1.2 million Korean visitors, equivalent to 45% of total international visitors. The Korean daily Maeil Business also ranked Nha Trang in the top 3 ideal destinations in Asia, and gave compliments to the coastal tourist paradise in Central Vietnam.
“Nha Trang – Khanh Hoa has beautiful beaches, vibrant nightlife and many attractive entertainment and sea sports services,” Maeil Business wrote.
A series of Korean stars have recently visited Nha Trang, such as Park Min Young, Park Hae Jin, Jung Il Woo, Tiffany Young (SNSD), etc., also creating a buzz promoting tourism to the coastal city to the Korean community in particular and international visitors in general. According to Agoda's report, Nha Trang (Khanh Hoa) is the most searched destination by Korean visitors in Southeast Asia during the country's National Day (August 15).
The increase in international tourists has promoted the strong development of food and beverage services, shopping and retail. According to statistics, total revenue from tourists in Khanh Hoa in the first 6 months of the year is estimated at nearly 20,000 billion VND, an increase of 150% over the same period.
According to the Korean Consumer Insight Research Institute, Koreans are very willing to shop abroad, especially after the Covid pandemic and in the context of inflation causing domestic prices to escalate. In particular, young Koreans like to shop for fashion in Vietnam thanks to some local Vietnamese brands worn by Korean idols, as well as affordable prices.
Meanwhile, Chinese outbound tourism spending in 2024 could lead the world and return to the level of 2019. The World Travel & Tourism Council's 2023 report shows that mainland Chinese tourists have surpassed other markets in shopping spending with an average of $1,350 per person per trip.
"The strong attraction of Khanh Hoa tourism with two groups of customers with large demand and high spending ability has brought a golden opportunity for the business and retail industry," a retail expert assessed.
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| Purely Vietnamese brands in luxurious spaces with good service quality are very popular with international tourists from Asia to Europe. |
Investment opportunities in multi-experience retail complexes
Unlike Western tourists who always prefer to explore new local elements, Korean and Chinese tourists tend to be more comfortable and have modern consumption habits, preferring to shop in luxurious places, perfectly combining relaxation, experience and cultural discovery. At the same time, Korean and Chinese tourists also prefer to pay by international payment cards. Well-invested shopping centers and commercial areas located in famous tourist complexes are the top choices for vacations.
In Nha Trang, the multi-experience retail complex model Vinpearl Harbour is considered the perfect answer, fully meeting the needs of international visitors in general and the influx of Chinese and Korean visitors in particular. This is also the door that opens up unprecedented attractive business opportunities when Vinpearl Harbour possesses all the common features of world-class commercial and entertainment complexes.
The attraction of Vinpearl Harbour Commercial Area is that it combines Vietnamese trading culture and world service standards. Thanks to that, international visitors can feel the novelty and uniqueness of Vietnamese culture, while being satisfied with the convenience and modernity.
Every corner of the street here regularly hosts exciting events 365 days a year, helping to retain tourists. In fact, many brands have exceeded expectations with record sales here. For example, the Vinpearl Harbour branch of the Langfarm brand has the most investment in the chain of stores nationwide, welcoming 300-400 visitors per day and increasing several times during holidays. In particular, the number of foreign visitors to the store is very large, especially Korean visitors.
Khanh Hoa tourism is forecast to grow strongly in the coming years as the province aims to welcome 4.5 million international visitors by 2025. Breakthrough models such as the Vinpearl Harbour multi-experience commercial complex project are considered a boost for Khanh Hoa to "reach the finish line". At the moment, there are not many business opportunities left at Vinpearl Harbour as there is only the Indochine subdivision, which was launched this summer with a limited number of apartments. This is also the "golden goose" for brands and quick investors.
Hotline for rental space: 093.317.6888
Fanpage: https://web.facebook.com/kptm.vinpearlharbour
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