Unlocking the “Gold Mine”: Decoding the Trends of the Times
In the global landscape, the “Culture Industry” has become one of the economic pillars for many nations, transforming cultural values, arts, and events into products and services that generate billions of dollars in revenue. In Vietnam, with the target of the culture industry contributing 7% to the GDP by 2030, this is no longer a distant dream but a national strategy that is being strongly promoted.
However, for astute investors, a more pertinent question is: “How can we turn this macro strategy into concrete cash flow?”. The answer lies in a more relatable concept: “Festival Economics”
While the “Culture Industry” is the machine that manufactures and distributes cultural products, “Festival Economics” encompasses all the commercial and service activities that develop in tandem with these events and directly benefit from them. It includes the revenue generated by restaurants, cafes, accommodation services, retail stores, transportation, and more during a festival, performance, or conference.
Da Nang reaps benefits after 8 years of socializing the International Fireworks Festival. (Image source: iStock)
A prominent case study is the Da Nang International Fireworks Festival (DIFF). According to statistics, during the event, hotel occupancy rates in Da Nang can reach 85-95%, with a significant surge in tourist numbers, bringing in thousands of billions of dong in revenue for the city’s entire service industry. This showcases the power of “Festival Economics” and its ability to generate massive peaks in revenue within a short period.
Hoang Huy New City: Setting the Standard for “Festive Urban” in the New Center of Hai Phong
Recognizing this trend, Hoang Huy New City in the center of Thuy Nguyen, Hai Phong, is positioned as a model “Festive Urban” – a multi-layered festival city where cultural, economic, and entertainment values converge to propel the explosive growth of the festival economy.
Hoang Huy New City – The first festival city in the new center of Hai Phong. (Image: Hoang Huy)
The project boasts a prime location next to the city’s Conference and Performing Arts Center (with a capacity of over 1,500 people), ensuring a constant flow of high-end customers during events. Additionally, its proximity to the new Administrative-Political Center guarantees a steady stream of government officials, businessmen, and experts, attracting a high-quality customer base.
From a financial perspective, investing in a shophouse at Hoang Huy New City offers a dual-layer cash flow formula that is both intelligent and profitable, helping investors preserve capital while maximizing profits: The first layer is the foundational cash flow, derived from meeting the daily needs of the internal residential community and neighboring areas. This provides a stable and sustainable source of income, forming a safe foundation for business operations; The second layer, and the key to exponential growth, lies in the unexpected revenue surges during festivals and events.
“To illustrate this, let’s consider a real-world example. A food service establishment might have an average daily revenue of VND 5 million. On a weekend evening with an event at the Performing Arts Center attracting 1,500 audience members, if this establishment serves approximately 20% of that crowd (300 people) with an average spending of VND 100,000 per person, the additional revenue for that evening would be VND 30 million.
This example highlights the significant potential for increased revenue, driven by the collective appeal of the entire urban area rather than solely relying on individual marketing efforts. Moreover, with cultural and conference activities expected to take place periodically, investors can anticipate a stable and predictable revenue cycle.”
Investing in a shophouse at Hoang Huy New City is more than just acquiring a commercial space. It is a strategic decision to own a valuable asset within the dynamic and promising economy of Hai Phong’s new center, where smart money is flowing to seize the vast opportunities that lie ahead.
Hoang Huy New City
Address: Hoang Huy New City Urban Area, Thuy Nguyen, Hai Phong.
Hotline: 096 693 66 66
Website: https://hoanghuy-newcity.vn
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