Tourism in Binh Thuan province is assessed by CBRE Vietnam as having a steady growth rate, but comes with the following challenges.
Talking about tourism in Binh Thuan province, CBRE Vietnam emphasized that although Binh Thuan is a long-standing resort market and has a fairly close connection from Ho Chi Minh City. In Ho Chi Minh City, this place has a relatively modest supply of resorts, especially in the 4-5 star segment. Besides, CBRE also lists some challenges and opportunities as follows:
1. Limited development space
Currently, entertainment and entertainment centers are concentrated in Phan Thiet city, mostly catering services. Therefore, the lack of diversity in tourism activities also makes it more difficult to attract tourists.
2. The shortage of 4-5 star accommodation facilities for tourists
Accommodation facilities are mostly 3-star hotels or less, built a long time ago, so the quality of facilities is somewhat degraded. The supply of high-end accommodation has not been able to keep up with the demand, so it may lose its competitive advantage. There are also relatively few international hotel brands.
Currently, the province has only 3 5-star hotel projects (Azerai Ke Ga Bay, formerly Princess D’Annam Resort & Spa), Anantara Mui Ne Resort and Sea Links Beach Resort & Golf, supplying the market with about 335 While the demand for high-end resorts is increasing, especially in the context of the Covid-19 outbreak, foreign travel is limited and places that can be driven to are being prioritized.
The cumulative supply of 4-5 star hotels reached a CAGR in the period of 2011 – 2015 about 9.3%/year. The period 2011 – 2015 is considered a boom period of the tourism and resort market with a new supply of about 1,300 rooms. However, from 2015 until now, the supply in Binh Thuan has started to slow down and only 1 more 4-star hotel project opened in 2017 with 96 rooms.
According to the chart below, the supply of 4-star hotels accounts for nearly 93% of the total supply of 4-5 star hotels in the province, but mainly concentrated in Ho Chi Minh City. Phan Thiet.
3. There is no diversity in tourism types
Binh Thuan tourism possesses a lot of potential to exploit, notably marine sports, adventure tourism (car racing, motorcycle racing, boat racing …) but the development and enhancement of products. This tourism has not been focused, mainly is still a single development. Meanwhile, international guests always pay special attention to safety when participating in these games.
ViGuide.vn updates its analysis of the tourism market and its potential in the next 10 years in the “quad” of Khanh Hoa, Lam Dong, Ninh Thuan and Binh Thuan. Tourism real estate in the quadrangle of Khanh Hoa, Lam Dong, Ninh Thuan and Binh Thuan is meticulously researched, ordered by Crystal Bay Group for CBRE to execute.The information in the article is quoted from data sources. whether reliable.