25/06/2025
Da Nang has been affirming its position as a "golden destination" for foreign investors thanks to its sustainable economic growth rate with GRDP in 2024 estimated to increase by 7.51% and the economic scale reaching more than 151,300 billion VND; a synchronized international transport infrastructure system with an airport welcoming more than 13.4 million visitors, including 6.2 million international visitors; strong growth in the tourism industry with 8.7 million visitors staying in the first 9 months of 2024; effective FDI attraction policy when Da Nang City granted 104 new projects with a total registered capital of 151.2 million USD in 2023; and a legal framework allowing foreigners to own apartments for up to 50 years, with the possibility of extension. In the article below, Achieve Realty VN will analyze in detail 7 key factors that make Da Nang an attractive investment choice for international customers.
1. Economic Growth and Market Size
Da Nang recorded a 2.58% increase in GRDP in 2023 compared to the previous year, reflecting a recovery after the pandemic period. In 2024, the city's economic growth rate is expected to reach 7.51%, the second-highest among the five centrally governed cities, only after Hanoi. In Q3/2024, GRDP increased by 8.6% compared to the same period in 2023, confirming the strong growth momentum of the local economy. The economic scale in 2024 is estimated to reach approximately 151.3 trillion VND, an increase of over 17,000 billion VND compared to 2023. This indicates that Da Nang's market has a solid economic foundation, creating favorable conditions for multi-sector investment projects, especially in real estate.
In Q1/2024, Da Nang's GRDP increased by 11.36% compared to the same period, followed by 8.35% in Q2 and 9% in Q3. This consistent growth in each quarter reflects the sustainable recovery capacity of key economic sectors and effective development management. Based on current prices, Da Nang's GRDP in 2024 reached over 151.3 trillion VND, an increase of more than 17,000 billion VND compared to 2023. This figure maintains Da Nang's leadership position in the Central Coast region and places the city among the top 17/63 provinces and cities with the largest economic scale nationwide. The city is currently focusing on developing key sectors such as luxury resort real estate, high-tech industries, digital economy, and logistics. Simultaneously, Da Nang is continuously improving strategic infrastructure—expanding the airport, upgrading seaports, and planning urban railways—creating sustainable investment opportunities for both domestic and international investors.
- Breakthrough Growth in 2024:
In 2024, Da Nang recorded a GRDP growth rate of 7.51%, ranking second only to Hanoi among the five centrally governed cities and placing in the top three of the Central Vietnam's key economic regions. This result affirms the strong bounce-back of the economy after the post-pandemic adjustment phase, positioning Da Nang as one of the most attractive investment destinations in the country.
- Main Growth Drivers:
Leading Service Sector: The service sector continues to maintain strong growth, contributing significantly to the overall growth structure by adding nearly 13 trillion VND in added value.
Dynamic Domestic Investment: Domestic capital inflows into Da Nang reached approximately 2.88 billion USD, reflecting the strong confidence of the business community in the local business environment, particularly in high-tech and real estate sectors.
Recovery in Export-Import: Da Nang's export-import turnover increased by nearly 3%, helping diversify revenue sources and reduce dependence on the domestic market, while creating new momentum for logistics and manufacturing industries.
2. Infrastructure and Connectivity
- Da Nang International Airport:
Da Nang International Airport is the third-largest aviation hub in the country, serving both domestic and international passengers. In 2023, the airport operated more than 40,000 flights and welcomed about 6.3 million passengers, a 50% increase compared to the previous year. The current two terminals—T1 for domestic and T2 for international—are designed to accommodate 7 million passengers annually. However, with the booming tourism and business sectors, the city is urgently expanding the airport to handle 10-12 million passengers by 2030. Along with additional baggage conveyors and expanded check-in areas, the access roads to the airport are also being upgraded, including expanding internal roads and implementing express bus services directly connecting to the city center, significantly reducing travel time and easing congestion.
- Ports and Railways:
Da Nang possesses two key seaports: Tien Sa and Lien Chieu, equipped with deep-water berths that can accommodate large ships weighing up to 200,000 DWT. Tien Sa Port primarily serves sea tourism and general cargo, while Lien Chieu Port, located in the dynamic economic zone of Lien Chieu – Hoa Hiep, is developing into a deep-water port region specializing in container handling and heavy industrial goods. Simultaneously, the city is connected by the North-South railway at Da Nang Station, handling hundreds of passenger and cargo trains daily, facilitating the transport of raw materials, finished products, and travelers across the country. To alleviate internal traffic pressure and create multi-modal connections, Da Nang is constructing Metro Line No. 2, connecting the main station to the airport and ports, along with the Nhật–Hàn Bridge project across the Han River to help redistribute traffic, reduce congestion on existing bridges, and develop riverside urban areas. With a synchronized transportation system including aviation, maritime, rail, and road networks, Da Nang is enhancing the mobility of passengers and goods, making it a competitive advantage for investors in logistics, tourism, resort real estate, high-tech industries, and real estate adjacent to strategic transport hubs.
3. Booming Tourism Industry
- Impressive Growth in Visitor Numbers:
In the first 10 months of 2024, Da Nang welcomed 9.3 million tourists, an increase of 32% compared to the same period in 2023. This remarkable number reflects the strong recovery of the tourism industry after pandemic disruptions. This growth is not only driven by domestic visitors but also by a significant increase in international tourists, indicating the growing attraction of Da Nang as an international tourist destination.
In the first 7 months of 2024, international visitors to Da Nang reached 2.5 million, a 34.7% increase compared to the same period in 2023. This demonstrates that Da Nang is gradually regaining its role as an important international destination in Southeast Asia. The sharp increase in international visitors is the result of factors such as the expansion of direct international flights, improved tourism infrastructure, and the attraction of cultural and festival events.
- Forecast for Strong Growth in the Future:
Da Nang aims to welcome 11.9 million visitors by 2025, including 4.8 million international tourists. Tourism revenue is projected to reach 1.41 billion USD, a 15% increase compared to 2024. This goal is ambitious but entirely feasible, given the city's strong development foundation and favorable factors such as the ongoing infrastructure upgrades, the growth of high-end resorts, and the increase in international flights and major events.
The booming tourism industry has led to a significant increase in demand for accommodation services and facilities for tourists. Da Nang has been heavily investing in tourism infrastructure, with numerous hotel, high-end resort, beachfront retreat, and service facilities projects to meet the growing demand from both domestic and international tourists. In addition, companies providing tour services, guides, transportation, and entertainment are benefiting from this growth, contributing to the creation of a complete tourism supply chain, thereby boosting the local economy. Major international events such as the Da Nang International Fireworks Festival (DIFF), the Asian Film Festival, and various cultural and culinary festivals have become annual events that attract high-quality international tourists. These events not only enhance Da Nang's position on the global tourism map but also generate substantial revenue for the service, accommodation, dining, and entertainment sectors. Cultural and art events provide visitors with the opportunity to experience the unique culture, scenery, and cuisine of Central Vietnam, fostering greater interaction between cultures and contributing to the development of the tourism industry.
4. Attracting Foreign Direct Investment (FDI)
Despite a decline in FDI capital in 2023, experts predict that FDI inflows into Vietnam, particularly into Da Nang, will grow significantly in the coming years. FDI into Vietnam is projected to reach nearly 38.23 billion USD in 2024, a 9.4% increase from the previous year. Da Nang, with its emerging industrial parks and projects, continues to attract high-tech industries, manufacturing, financial services, and value-added sectors. This growth not only reflects the recovery of Vietnam's economy after the pandemic but also serves as a positive signal for Da Nang, which is aiming to become a hub for high-tech industries and premium services.
Experts anticipate that FDI inflows into Vietnam will surge in the second half of 2025, thanks to signed free trade agreements and the Vietnamese government's investment attraction policies. Positive changes in the investment environment, combined with political stability and sustainable development potential, will continue to attract the attention of foreign investors to Da Nang, especially in high-tech industries, real estate, and premium services.
5. Investment Opportunities and Profit Potential
Coastal resort projects, especially branded residences like Nobu Da Nang, are greatly benefiting from the increasing trend of high-end tourism in Vietnam, particularly in coastal cities like Da Nang. As the demand for luxury resort tourism and high-end experiences from international tourists continues to rise, these projects not only attract tourists but also present stable and sustainable profit opportunities for investors.
Projects like Nobu Da Nang, built as branded residences, offer the advantage of brand recognition and prestige, which helps increase property value quickly. Additionally, rental yields from these resort residences range from 7-9% annually, which is highly attractive to investors. This project not only provides income from rentals but is also expected to increase property values by 10-15% in 3-5 years, enhancing the appeal of the Da Nang real estate market, especially in the high-end resort sector, which offers long-term benefits for investors.
One crucial factor driving strong growth in Da Nang's real estate market is the limited land supply. Compared to major cities like Hanoi and Ho Chi Minh City, Da Nang still has plenty of land, but it is becoming increasingly scarce due to rapid urbanization and ongoing development projects, especially in coastal areas and regions with tourism potential. Da Nang is developing not only its transportation infrastructure but also its quality of life, creating attractive investment opportunities for those wishing to own real estate in prime locations. Additionally, investment costs in Da Nang are still lower compared to major cities like Hanoi and Ho Chi Minh City, providing a significant advantage that helps reduce initial investment costs and allows investors to achieve higher returns. With affordable land prices and reasonable construction costs, investors can fully capitalize on the potential of real estate in Da Nang.
Not only domestic investors but also many international investors from regions such as Europe, Korea, and Singapore are pouring capital into Da Nang, particularly in the hotel, resort, and high-tech industrial sectors. These investors see the strong growth potential of Da Nang, with rapid infrastructure development, improved connectivity, and factors that attract both tourism and industrial investment.
Investments from developed countries such as Europe and Singapore not only help improve the quality of construction but also bring advanced technologies, management expertise, and international standards to Da Nang, thereby increasing property values and providing future profit opportunities for investors.
In conclusion, Da Nang is asserting itself as an attractive investment destination with a solid economic foundation and impressive growth rate. High-end real estate projects, such as branded residences like Nobu Da Nang, offer attractive returns and significant price appreciation potential in the future. With lower investment costs than major cities and favorable legal environments, Da Nang continues to attract international investors from developed countries. The limited land supply, synchronized infrastructure, and supportive investment policies create sustainable profit opportunities for both domestic and international investors.
Contact Achieve Realty VN now for detailed advice on investment opportunities and to explore the potential of the Nobu Residences project!
