Expansion of Ascott's Vacation Resort Collection
The global leisure travel market is experiencing a robust rebound, with a focus on sustainable, authentic, and technology-enhanced experiences[1]. This sector, particularly in resorts and popular destinations like Phu Quoc Island, Vietnam, is expected to exceed $11 trillion by 2025[1].
Key trends shaping leisure resort travel include a strong post-pandemic recovery and growth, with the global travel industry projected to grow annually around 4%, reaching over $1.1 trillion by 2029[3]. The appeal of emerging and affordable destinations like Phu Quoc, offering authentic cultural experiences and natural beauty, is on the rise[1].
Travelers are increasingly interested in wellness, remote work travel, and flexibility in booking, benefits that resorts offering amenities tailored to digital nomads and hybrid leisure-business trips can capitalise on[1][3][5]. There is also a growing demand for eco-friendly and sustainable resort practices, as sustainability is now a key influencing factor in booking decisions and resort development[1].
The use of AI and technology for personalised travel planning and contactless resort experiences is also becoming more prevalent[1]. Beach and nature-focused vacations are increasingly popular, with about 56% of travelers favouring coastal resorts, boosting beach destinations in Southeast Asia, including Phu Quoc[5].
Phu Quoc Island, while data on its market size is limited, aligns closely with these global trends. It is recognised as an emerging, affordable, and authentic resort destination in Vietnam, attracting both leisure travelers and digital nomads due to its natural beauty, beaches, and increasing resort infrastructure[1].
The expansion of Southeast Asian leisure destinations is part of a broader wave of traveler diversification away from overtouristed traditional spots towards new, culturally rich, and affordable locations.
The leisure travel market offers a US$15 trillion opportunity, according to The Boston Consulting Group[2]. Oxford Economics anticipates continued growth and outperformance of leisure travel, contributing to more even tourism growth[4]. The US resorts market size was reported by Grand View Research[3].
Sources:
[1] Travel + Leisure Magazine. (n.d.). Phu Quoc Island, Vietnam, Highlighted as a Popular Destination. Retrieved from [link] [2] The Boston Consulting Group. (n.d.). US$15 Trillion Opportunity in the Leisure Travel Sector. Retrieved from [link] [3] Grand View Research. (n.d.). Size of the Resorts Market. Retrieved from [link] [4] Oxford Economics. (n.d.). Continued Growth and Outperformance of Leisure Travel. Retrieved from [link] [5] Travel + Leisure Magazine. (n.d.). Beach and Nature-Focused Vacations on the Rise. Retrieved from [link]
- The travel industry's rebound in the leisure sector, with a focus on sustainable and technology-enhanced experiences, has led to an increased interest in Phu Quoc Island, Vietnam, given its authentic cultural experiences, natural beauty, and growing resort infrastructure.
- As travelers seek eco-friendly and sustainable resort practices, plus destinations offering wellness, remote work opportunities, and flexible booking, Phu Quoc Island, an emerging and affordable coastal resort, is well-positioned to cater to these demands, aligning with global trends in the leisure travel market.
