Phu Quoc

A gem in the Gulf of Thailand, an emerging premiere vacation destination, known for its turquoise waters, abundant marine life and lush rainforests

Phu Quoc

Local Time: 16:01 Local Temperature: 31.75ºC/304.9ºF Location: Southern Vietnam

Welcome to Phu Quoc, a tropical oasis

Phu Quoc, Vietnam’s largest island, is a property hotspot due to massive investments in luxury resorts, casino projects, and infrastructure upgrades. As a special economic zone, the charming island, known for its white sandy beaches and well-preserved national parks, is fast on track to become an in-demand real estate market.

 

BUSINESS

ECONOMIC HIGHLIGHTS

Phu Quoc is a booming emerging market with high-end resort projects, multiple golf courses, a casino development, a cruise ship port, and the world’s longest oversea cable car in the works. The island’s economy consists of fishing, agriculture, and tourism.

In 2016, Phu Quoc’s GDP per capita was US$5,469 and the island welcomed 1,450,000 tourists and earned US$139.5 million from the tourism sector. By 2030, the island’s international airport aims to serve 7 million passengers. Phu Quoc is the only destination in Vietnam that allows tourists to stay for up to 30 days visa-free.  

Real estate

Phu Quoc, one of Vietnam’s three special economic zones, has been implementing favorable policies and incentives to attract mass investment including a 50% reduction in personal and corporate income tax as well as lease fee waivers. Big developers such as Vingroup, Sungroup, and BIM Group are planning large projects on the island that will accommodate a variety of integrated resort developments that will serve local and international tourists with quality accommodation and leisure facilities such as golf courses, water and amusement parks and excellent beaches. Phu Quoc is destined to be Asia’s next jet-set destination following the footsteps of Phuket and Bali.

Lifestyle

People

The real treasures of Phu Quoc Island are its rich culture and friendly locals. The island population 112,000 residents, who come from all over the world. Phu Quoc Island is home to a multicultural community of around 112,000 residents, with Indian, Cambodian, Chinese, Cambodian, and even Western backgrounds. Buddhism is widely practiced and that can be seen through the numerous pagodas found throughout the island such as the iconic Dinh Cau Temple or the vast Ho Quoc Pagoda. Most of the population are fishermen, pearl farmers, and black pepper gardeners.  

cuisine

Phu Quoc is a mecca for seafood lovers with various choices of fresh fish and shellfish on offer at very reasonable prices. The island is famous for producing the most flavorful fish sauce and pepper. Fish sauce produced in Phu Quoc is highly popular and most preferred by locals and even some foreigners. Fine dining and international cuisines are also available in high-end restaurants found in luxurious resorts throughout the island.  

Attractions

With 150 kilometers of coastline, Phu Quoc has some of the gorgeous beaches in Asia. Long Beach, the most popular beach in Phu Quoc, is the epicenter of all tourist activities and high-end resort projects. Sao Beach is another popular beach on the island, with powdery white sand, turquoise waters, and lush forest. One of the island’s most famous attractions is the Coconut Tree Prison, used during the American-Vietnam War to house more than 40,000 North Vietnamese soldiers.  

Activities

Phu Quoc Island boasts idyllic beaches, romantic sunsets, evergreen forests, and a serene atmosphere, making it an ideal holiday destination for travelers. Water activities such as swimming, snorkeling and scuba diving are must-dos in Phu Quoc. During the day, visitors can visit Phu Quoc’s special pepper farms, pearl shops, and fish sauce factories before strolling along the white sandy beaches to enjoy the setting sun. In the evening or during the weekends, life in Phu Quoc Island becomes even more vibrant with Duong Dong’s bustling night market where various gifts, snacks, and fresh seafood can be purchased.

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