What's Happening?
The Hoiana Resort & Golf in Vietnam is set to expand with the addition of over 1,000 five-star hotel rooms. Nguyen Vinh Tran, the general director of Hoi An South Development Ltd, announced the new phase,
which includes a multifunctional international convention center, a family-oriented retail and entertainment complex, and a second golf course with a professional training center. The expansion is part of a US$2.6 billion investment plan, aiming to attract US$1 billion in new investments. Since its opening in 2020, Hoiana has operated several five-star hotels, a casino, and an 18-hole golf course. The resort has significantly contributed to the local economy, with substantial tax contributions and employment opportunities.
Why It's Important?
The expansion of Hoiana Resort is poised to have a substantial impact on the local economy and tourism industry in Vietnam. By adding more luxury accommodations and facilities, the resort is expected to attract a higher number of international tourists, thereby increasing tourism revenue. The development will create over 2,000 new jobs, providing significant employment opportunities for the local population. Additionally, the expansion is projected to contribute over VND2 trillion in tax revenue annually, supporting government budgets and public services. The project underscores Vietnam's growing appeal as a luxury travel destination and its potential for further economic development through tourism.
