In recent years, Vietnam has witnessed a surge in super-rich tourists, a growing segment that seeks unique, private, and often exclusive experiences. This trend has transformed Vietnam into a luxury destination for high-net-worth travelers. However, meeting the demands of this elite group requires meticulous attention to detail, customized experiences, and specialized services, presenting challenges for Vietnam’s luxury travel industry.
Rise of Luxury Tourism in Vietnam
Tourism industry insiders report that affluent travelers from around the world are increasingly drawn to Vietnam’s pristine landscapes, diverse cultural heritage, and relative safety. Tran Anh Khoa, CEO of Jack Tran Tours Hoi An, a company with over 20 years’ experience serving affluent clients, highlights a significant uptick in demand among super-rich tourists. While Jack Tran Tours only catered to one or two affluent groups last year, Khoa reports that this figure has climbed to five groups this year alone, resulting in a 5-10% increase in revenue.
Similarly, LuxGroup, which operates upscale restaurants, hotels, and luxury yachts, has seen its affluent clientele expand by an average of 30% annually. Pham Ha, CEO of LuxGroup, attributes this growth to the company’s focus on high-end experiences that resonate with wealthy travelers seeking exclusivity and authenticity.
Despite the tropical storm season in November and December, nearly all of LuxGroup’s luxury yachts are fully booked until year-end, underscoring the appeal of Vietnam’s high-end tourism offerings.
Vietnam’s Appeal to High-Net-Worth Individuals
Vietnam’s luxury tourism sector has increasingly attracted high-net-worth travelers, who appreciate the country’s beauty and culture. Iconic destinations like Phu Quoc Island, known for its clear waters and natural charm, have recently welcomed five-star Italian cruise ships and French superyachts, carrying thousands of high-spending European tourists. High-profile visits, such as that of American tech billionaire Bill Gates, who traveled to Da Nang by private jet earlier this year, have also added to Vietnam’s appeal.
In September, 4,500 employees of Indian pharmaceutical giant Sun Pharmaceutical Industries, owned by the country’s fifth-richest individual, Dilip Shanghvi, visited Hanoi and other northern regions. Indian billionaires are also choosing Vietnam as a venue for lavish celebrations, hosting opulent weddings in locales such as Ha Long Bay and Da Nang.
The Challenge of Serving the Super-Rich
While the influx of super-rich tourists offers a lucrative opportunity, catering to this elite group is described as “challenging and tiring” by industry insiders. High expectations for privacy, personalized experiences, and exclusivity demand an elevated level of creativity and service.
Khoa of Jack Tran Tours notes that privacy and security are paramount for affluent tourists. Some clients are willing to spend up to VND200 million (approximately $7,900) for a few hours of exclusive, culturally immersive experiences, such as releasing flower lanterns on a secluded river without the presence of others. Another group requested a rural experience in a rice field, complete with buffaloes and cows for added authenticity. Designing and coordinating such bespoke itineraries requires a high degree of customization and logistical planning, making these experiences resource-intensive.
Pham Ha of LuxGroup describes similar requests, with guests seeking extraordinary activities such as private seaplane rides lasting from 30 minutes to an hour or kite flying from the roof of a yacht. Others wish to rent private beaches for exclusive parties, which necessitates careful coordination of essential amenities like electricity and water—a complex task given the remote nature of many beach locations.
Luxury accommodations and culinary experiences are constant demands among the super-rich, many of whom prefer overnight stays on luxury yachts or fine dining at Michelin-starred restaurants. Pham Ha notes that these guests often seek unique, story-driven culinary experiences and are eager for renowned chefs to prepare customized dishes that reflect Vietnamese heritage. The emphasis on cuisine as an integral part of the luxury experience is growing, particularly as Michelin recognition increases in Vietnam.
Michelin Star Attractions and Gastronomic Delights
Vietnam’s culinary landscape has been making waves internationally, thanks in part to the Michelin Guide’s recognition of the country’s top dining establishments. With seven restaurants now holding Michelin stars—four in Hanoi, two in Ho Chi Minh City, and one in Da Nang—the demand for luxury dining experiences among super-rich tourists has surged.
Affluent guests frequently request exclusive culinary interactions, where chefs not only prepare dishes but share the cultural stories behind each creation. These experiences allow travelers to connect deeply with Vietnamese cuisine, enhancing their appreciation of local flavors and ingredients. According to Pham Ha, such personalized dining experiences are often the highlight of affluent travelers’ trips, underscoring the significance of gastronomy in luxury tourism.
The Rewarding Challenges of Catering to Wealthy Travelers
Despite the complexity and demanding nature of serving this clientele, industry insiders acknowledge that the financial rewards are substantial. Khoa mentions that just five groups of ultra-wealthy tourists can account for up to 40% of his company’s annual income, demonstrating the high profitability of this market segment.
Yet, experts like tourism consultant Tran Tuyen emphasize that capitalizing on this opportunity requires a concerted effort to streamline entry procedures. Vietnam’s visa policies remain restrictive, with visa waivers available to nationals from only 25 countries. In contrast, Malaysia, the Philippines, and Thailand offer visa-free access to citizens of 154, 157, and 93 countries, respectively. Easing visa restrictions could position Vietnam more favorably against other Southeast Asian destinations, making it more accessible to affluent tourists.
Vietnam’s Path to Becoming a Luxury Destination
To sustain and grow the influx of wealthy travelers, Vietnam’s luxury tourism sector will need to continue investing in exclusive experiences and overcoming logistical challenges. While the super-rich flock to Vietnam for its beauty, safety, and increasingly sophisticated offerings, the industry must remain vigilant in its commitment to high standards of privacy, customization, and quality.
For companies like Jack Tran Tours and LuxGroup, the rise in affluent visitors presents a golden opportunity to enhance Vietnam’s reputation as a premier luxury destination. As they navigate the challenges of catering to discerning clients, they contribute to positioning Vietnam as a top choice for luxury tourism, offering a blend of culture, heritage, and high-end experiences that resonate with the world’s wealthiest travelers.
Souce: Vnexpress
