HCMC – Vietnam’s hotel sector is expected to attract more than US$125 million in investments in 2025 as tourism surpasses pre-pandemic levels, according to JLL Vietnam.
The real estate services firm raised its 2025 forecast from US$100 million, citing stronger investor sentiment and market recovery. It projected transaction volumes to reach US$200 million in 2026, supported by rising tourism, economic growth, and capital availability.
Southeast Asia, including Vietnam, is expected to keep its 10-13% share of Asia Pacific’s hotel investment volume, in line with pre-Covid trends.
Foreign investors are focusing on established assets with long leases in key destinations, while domestic buyers are active in Hanoi City and HCMC. Limited institutional-grade assets remain a challenge, JLL said.
Vietnam’s tourism revenue hit VND840 trillion in 2024, a VND84 trillion increase compared to pre-pandemic 2019 levels. The sector is poised for further growth, targeting 22-23 million international visitor arrivals in 2025, with total revenue projected to reach VND980 trillion to VND1.05 quadrillion. Growth is expected from cruise tourism, MICE events, and major social activities.
China, previously Vietnam’s largest source of visitors, accounted for 29% of arrivals in the first eight months of 2025, up from 24% earlier in the year and above pre-pandemic levels. Arrivals from Russia rocketed 206.7% year-on-year and from Cambodia 71%, while arrivals from South Korea, Taiwan, the United States, Japan, and India remained stable.
JLL presented the outlook at a client event on September 24, noting that favorable visa policy, political stability, and Government efforts on sustainability and digitalization are shaping future supply, especially in the upscale segment.
