In March 2024, tech billionaire Bill Gates arrived in Da Nang, Vietnam, via private jet for a five-day personal vacation. He stayed at a beachfront resort and immersed himself in Vietnamese culture.
Gates first visited Vietnam in 2006 to explore and promote IT business opportunities. That historic trip garnered significant attention from the Vietnamese public and business community. His return underscores Vietnam’s growing appeal to global influencers.
Beyond short-term tourism, the ultra-wealthy are increasingly choosing Vietnam for investment and luxury property ownership. A report by The Super Prime highlights Vietnam’s rapid emergence as a hub for luxury living. High-end real estate projects like The Grand Hanoi and Vinhomes Ocean Park are attracting European and American investors.
Vietnam’s allure extends beyond its landscapes. Its dynamic economy, impressive growth, and rising role in global supply chains are powerful magnets for the elite.
A recent Asia-Pacific (APAC) report by Knight Frank ranks Vietnam among the top nations offering the best quality of life for the global elite.
 Vietnam: A Magnet for Billionaires. Photo: Hoàng Hà |
Matthew Powell, Director of Savills Hanoi, notes, “Vietnam combines strategic location in Southeast Asia, rapid economic growth, stunning natural beauty, and an improving living environment. Its rich culture, diverse cuisine, and untapped real estate potential further enhance its appeal.”
Destinations like Da Nang and Hoi An are rising with luxury resorts, world-class golf courses, and a temperate climate, elevating their quality of life.
Meanwhile, Hanoi and Ho Chi Minh City are witnessing a boom in luxury real estate, featuring internationally accredited projects, upgraded infrastructure, and seamless connectivity to regional financial hubs.
Savills reports a 210% growth in branded luxury real estate, cementing Vietnam’s status as a key destination for the ultra-wealthy and international investors.
Retaining the Elite
To attract the elite, Vietnam’s infrastructure and premium services are transforming. The upcoming Long Thanh International Airport, a nationwide highway network, and luxury marinas in Vung Tau, Da Nang, and Phu Quoc exemplify this shift.
International golf clubs, top-tier hospitals, and prestigious international schools like BIS, ISHCMC, and Renaissance are becoming staples in major urban areas.
The ultra-wealthy’s preferences are evolving: they seek not just a home, but a lifestyle—a prestigious community with exclusive services.
Paul Tostevin, Global Research Director at Savills, observes that geopolitical and economic volatility is reshaping global asset flows. Ultra-wealthy individuals and corporations are reevaluating their residence and business locations.
Traditional factors like government policies, tax incentives, and access to skilled labor remain crucial. However, local identity and high quality of life are increasingly decisive in destination choices.
Despite its potential, Vietnam faces challenges in becoming a true haven for the elite. Matthew Powell stresses the need for bold reforms to compete with regional rivals like Thailand and Malaysia, which offer long-term visas, tax perks, and flexible labor conditions for high-net-worth individuals.
Building a world-class ecosystem in healthcare, education, and services is essential. “When elites experience seamless convenience and professionalism, they not only return but also become ambassadors for the nation,” Powell emphasizes.
Duy Anh
– 15:26 01/09/2025
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