The tourism investor’s question: Vietnam targets 45–50 million international visitors by 2030 — how does foreign capital enter tourism? Tourism is a spearhead economic sector, and 2025 welcomed 21.2 million international arrivals (+20.4%).
International travel: foreign capital welcome
International travel business is conditional: operators need an international travel license, statutory deposits and qualified personnel (licensed guides). Foreign-invested enterprises may run international travel bringing visitors into Vietnam (inbound) — outbound travel (Vietnamese going abroad) faces tighter restrictions. In practice, foreign capital usually enters via joint ventures with licensed Vietnamese travel companies that bring permits and networks.
Hospitality and tourism real estate
The most open segment is hospitality: hotels, resorts, tourism apartments — 100% foreign ownership allowed, no cap like aviation. Beach resorts (Phu Quoc, Nha Trang, Da Nang, Quy Nhon) and luxury urban hotels lack quality supply. Note: tourism land — time-limited leases, and the condotel model has faced ownership-law controversies — diligence is essential.
Strategy for investors
(1) Ride the policy wave: Resolution 26-NQ/TW targets USD 80–90 billion revenue by 2030 — localities are rolling out red carpets for major tourism projects; (2) travel joint ventures: Vietnamese partners’ licenses + domestic networks; (3) value chains: travel + hospitality + passenger transport — own the whole journey; (4) global brands: international hotel brands multiply asset value.
Frequently asked questions
May 100% foreign firms run international travel?
Yes for inbound (bringing visitors to Vietnam); outbound is more restricted.
May foreigners own 100% of a hotel?
Yes — hospitality has no foreign ownership cap.
The 2030 tourism target?
45–50 million international visitors, USD 80–90 billion (Resolution 26-NQ/TW).
What to watch in condotels?
Ownership legality has been controversial — diligence before investing.
FLAT Law Firm advises on tourism investment — travel licenses, resort projects and ownership structures.