Strong industrial infrastructure development and a sharp rise in investment in Haiphong City have helped to fuel the municipal tourism sector, according to leading international property services provider Savills.
The report by Savills said a range of big infrastructure projects in the northern port city of Haiphong such as Ha Long-Haiphong Expressway, Vu Yen I Bridge, industrial parks and Haiphong International Container Terminal had had an impact.
A wave of foreign direct investment (FDI) into the city has sharply increased. In the first eleven months of last year, Haiphong attracted USD2.49 billion in registered FDI, standing third nationwide behind Hanoi and HCM City. In 2017, it also stood the 9th in the provincial competitive index.
These are seen as among major factors to flows of people, including foreigners, who come to the city for business trips to survey investment opportunities and carry out projects.
Haiphong welcomed 7.8 million visitors in 2018, up 12% on-year, including a large number of business visitors who played a very important role in increasing revenues for local hotels and serviced apartments.
Haiphong has 14 hotels of 3-5 stars, providing a total number of 1,400 rooms. Last year, the room coverage rate increased by 5% on-year. The average revenue of five-star hotels was estimated at USD63 per night, doubling the figure of four-star hotel segment.
The Ministry of Planning and Investment reported that around 3,000 hectares of seven industrial parks in Haiphong have been filled.
"The demand for foreign staff and experts to stay in Haiphong to serve investment projects is quite high, mostly in the hotel and serviced apartment segment,” said Do Thi Thu Hang, associate director of research at Savills Hanoi.
Japanese and South Korean people accounted for the majority of foreigners staying in Haiphong.
