As Vietnam closes the chapter on a landmark year for tourism in 2025, industry leaders are wrestling with a defining question: Can Vietnam evolve from a fast-growing destination into a high-value global brand? For Dr. Phạm Hà — Founding President & CEO of LuxGroup® — the answer is not only yes, but imperative if the nation wants to command a seat at the table of the world’s most respected travel markets.
“We’ve passed the milestone of recovery,” he says, “but now we must embrace a deeper transformation — from volume to value, from numbers to narratives.”
A Historic Turning Point
Vietnam’s tourism rebound in 2025 was nothing short of remarkable. The country welcomed more than 20 million international visitors, outpacing the global tourism growth rate by a wide margin. Compared with pre-pandemic levels, inbound tourism has recovered to more than 110%, while many destinations worldwide lag behind.
Yet Dr. Phạm Hà is quick to temper celebrations with sober analysis: “Rich numbers don’t automatically translate into rich value.” He notes that while arrivals have surged, spending per visitor remains relatively low — roughly 55–60% of that seen in Thailand and less than half of Singapore’s, signaling untapped economic potential.
Redefining Luxury: Beyond Opulence to Depth
The global luxury travel segment is undergoing its own renaissance. Forbes and industry reports alike have documented a shift in affluent travelers’ motivations: today’s well-healed globetrotters are less interested in show and more focused on self — seeking experiences that transform, not just entertain.
Dr. Phạm Hà echoes this insight: Luxury isn’t about excess; it’s about meaning. Vietnam’s story — layered with centuries of history, vibrant cultural traditions, diverse ecosystems, and warm communities — offers a unique canvas for travel that resonates on an emotional level.
“We must sell experience, not just tickets,” he insists. “Travelers today ask: Is it real? Is it deep? Will I want to come back?”
Structural Challenges and Strategic Shifts
Despite strong growth, there remain persistent structural impediments. Dr. Phạm Hà cites four key blockers:
• Institutional frameworks lagging behind market dynamics
• A dearth of premium products tied to authentic culture
• Uneven quality in human capital
• Short-term thinking across stakeholders
“Tourism cannot be sustainably built on seasonal thinking or short-sighted policies,” he argues. “It must be anchored in long-term vision and deep value creation.”
This perspective aligns with broader calls from Vietnam’s tourism authorities for modernization and professionalization of the sector — emphasizing creative, meaningful experiences over commodity-based tour packages.
Sustainability as Competitive Advantage
Vietnam sits on one of its greatest assets: a multi-layered cultural and natural heritage system that cannot be replicated. As environmental and social pressures mount globally, destinations that integrate sustainable practices into their core proposition are gaining disproportionate share in premium markets.
For Dr. Phạm Hà, sustainability isn’t a box to check — it’s a strategic advantage. He points out that sustainable tourism products not only protect ecosystems and communities but also enhance customer loyalty and operational resilience. “ESG isn’t optional anymore,” he says. “It’s table stakes for global relevance.”
Experiential Trends Shaping 2026 and Beyond
Looking forward, Dr. Phạm Hà identifies key tourism trends that will define the next decade:
1. Emotional enrichment over transactional tourism
2. Cultural immersion as the currency of choice
3. Green and regenerative travel experiences
4. Personalization for deep human connection
5. Narrative-driven journeying
“We’ve realized that people aren’t just choosing where to go — they’re asking, Who will I be when I return?” he says.
The Role of Innovation and Policy
To accelerate this shift, Vietnam must embrace policy frameworks that encourage experimentation — particularly in nocturnal economies, cross-regional products, and new forms of immersive tourism. Dr. Phạm Hà argues that over-regulation stifles creativity, whereas well-designed pilots can unlock untold value.
Investments in green infrastructure, ports, and smart mobility also feature prominently in his vision. These are not just enablers of convenience but essential building blocks for sustainable, high-end tourism ecosystems.
LuxGroup’s Strategic Playbook
Reflecting on LuxGroup’s own journey, Dr. Phạm Hà underscores the importance of purpose-led growth. The company has pushed beyond traditional hospitality offerings to craft experiences that blend heritage, art, wellbeing, and environmental stewardship. Its strategic philosophy — captured in the credo “Luxury Is Culture — Delivering Happiness” — represents a re-imagined definition of luxury rooted in authenticity and emotional resonance.