Vietnam’s Vinacapital: “Central region in first stage of coastal development”

Vietnam’s Vinacapital: “Central region in first stage of coastal development”

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China People’s Daily reported that 97.3 million Chinese traveled abroad in 2013, increasing by 16.8 percent over the year before, predicting that the number would outstrip the 100 million threshold this year

However, every Chinese only spent $75 a year to travel abroad, which was much lower than $266 of the US and $1,000 of German, Canadian or Australian. But this means that the great potentials are still there to be exploited.

Vietnamese investors have been urged to “take actions” to “make money” from the “stream of Chinese people.”

A report showed that more than 1.9 million Chinese came to Vietnam in 2013, an increase of 33.5 percent over the year before. Supposed that every Chinese spent $75 in Vietnam, then Vietnam earned $142.5 million from Chinese in the year.

Analysts have also pointed out that Vietnam, with its great advantages, can attract the Chinese who come to Vietnam for both the business and travel purposes.

The Chinese foreign direct investment in Vietnam in 2013 soared to $2.3 billion from $345 million in 2012.

Business Monitor International (BMI), a market survey firm, once predicted that most of the foreign travelers to Vietnam would be from Asia Pacific, especially from China, South Korea and Japan.

The firm forecast that 2.1 million Chinese would come to Vietnam by 2017. However, if noting that the figure reached 1.9 million in 2013 already, one would believe that the BMI’s predicted figure would turn realistic sooner than expected.

Analysts believe that it is now the right time for Vietnamese investors to pour money into restaurants, hotels and entertainment services.

VinaCapital is planning to develop a resort-casino complex worth $4 billion in Quang Nam province. It is also developing another resort in Da Nang City, also in the central province.

VinaCapital’s CEO Don Lam said in the eyes of the investor, the central region of Vietnam is in its first stage of development. It takes 1.5 hours only to fly from the southern part of China to the beautiful beaches. This would be really attractive to Chinese. Especially, the hotel expenses here are clearly cheaper.

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