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Tom Rowntree, vice president for global luxury brands at IHG Hotels & Resorts, said Vietnam has all the natural ingredients to be one of the world’s most sought-after travel destinations.

“With long scenic coastlines such as Nha Trang, the landscapes of Ha Long Bay and the country’s rich culture, great food and warm hospitality, Vietnam will continue to drive sustainable growth, inspiring travelers to return time and again.”

Rowntree said the expansion of IHG’s luxury hotel portfolio reflects the company’s bet on a surge in wealthy travelers across the Asia-Pacific region.

The global luxury travel market is expected to grow by nearly 8% annually, reaching US$3.52 billion by 2035, according to market analysis company Market Research Future.

Asia-Pacific is forecast to outperform the global average, with annual growth of 9.9% through 2033, driven by travel within the region, which is expected to account for 91% of market expansion.

Asia-Pacific now holds around 30% of global wealth, while its population of high-net-worth individuals grew by more than 10% in 2025, making it the world’s fastest-growing wealth region, Swiss bank UBS said in its annual Global Wealth Report last month.

“Affluent travelers are shaping the luxury market more than ever, prioritizing highly personalized, culturally immersive and one-of-a-kind experiences,” Rowntree said.

Vietnam received 12.3 million international visitors in the first six months of the year, a 14.9% increase from the same period last year, fueled by the country’s reputation as a safe destination amid global geopolitical uncertainty.

The country eyes 25 million foreign arrivals this year.