BUSINESS
ECONOMIC HIGHLIGHTS
Nha Trang is the provincial city of Khanh Hoa - the beautiful coastal area of Vietnam. The city is observing promising economic growth, with a recorded 9.31% increase in GDP from 2010 to 2016 and the GRDP reached 7.48%.The economic growth is underpinned by the tourism sector with tourism revenue hit US$3.3 million in the first half of 2017, a 31% increase y-o-y. The key industries here are tourism-services, construction, and agriculture, accounting for 63%, 33% and 11% respectively.
Real estate
Boosted by a prospering tourism sector, Nha Trang’s real estate market is encouraging big investors to develop their costly apartment and seaside villa projects into the region. Most apartment projects are located along the coastline, while landed property projects for second home and investment are spreading to the west.
The province has also applied multiple new policies to encourage investment of new entertainment areas and upgraded transportation system within the city such as the introduction of world-class elevated cruises. The first International Marina is under construction and just welcomed its first yacht in July 2017. The provincial Department of Culture and Tourism has also pushed for the expansion of Cam Ranh International Airport due to the excess demand. These are laying out the foundation for more businesses to invest into Nha Trang’s infrastructure and real estate market.
Lifestyle
People
In 2015, Nha Trang has a recorded population of 420,521 people. Most of the locals work in tourism, fishery, services, and industry sector. As the provincial city of Khanh Hoa, Nha Trang makes up more than one-third of the population and is the main contributor to the socio-economic development of Khanh Hoa Province. Nha Trang has a growing Russian expat population mainly working in the tourism and service sectors. The remaining foreign population in the city is from Turkey, USA and France take managerial positions in travel agencies and 5-star hotels.
Cuisines
From fine-dining beachfront restaurants to fancy bistros and local delicacies, all these are located along the beachfront of Nha Trang City. Sailing Club, Louisiana, The Runam Bistro and The Costa Seafood are places where choices vary from western to local. For the young population, Nha Trang’s nightlife includes numerous beach bars, rooftop beach clubs, and sky deck such as the Sky Bar on the rooftop of the 5-star Havana Hotel where many popular DJs have come to perform.
Attractions
Nha Trang’s landmarks have been influenced by a diverse group of cultures including French, Cambodia, and Chinese. Those influences can be seen in the architectural designs of the multi-tiered Po Nagar Cham Temple, Long Son Pagoda, and Long Son Pagoda. Additionally, the turquoise watered beaches of Nha Trang offer some of the most magnificent views of Vietnam. Just an hour drive from Nha Trang city center towards the north is the beautiful Ninh Van Bay, known for having the calmest private white beach and some of the hidden waterfalls to explore.
Activities
As a coastal city, boat sailing, island hopping, and scuba diving are popular activities. After a long week of hard work, locals enjoy bathing in hot springs and mud baths across the city. Nha Trang’s all-year-round dry climate makes the region perfect for golfing. Nha Trang boasts 2 famous golf courses with ocean views, perfect for any golfers who look for an integrated golf resort destination.
