Welcoming super-rich tourists: What opportunities for Lao Cai?

In April 2024, Apple CEO Tim Cook chose to experience many tourist destinations in Hanoi. Despite having only two days in Hanoi with a packed and hectic work schedule, Apple CEO Tim Cook still found time to explore the city as a friendly tourist. The globally renowned businessman exclaimed: "There's no place like Vietnam – a vibrant and beautiful country!"

Earlier, in early March 2024, billionaire Bill Gates and his girlfriend took a trip to Da Nang . During their four-day stay, Bill Gates and his girlfriend visited Son Tra Peninsula, enjoyed tea, meditated, admired the city from the top of Ong Tien Chessboard Peak, and played tennis at a resort.

Bordering Lao Cai, in late December 2022, a helicopter carrying members of a group of American billionaires landed in Ha Giang city. This was believed to be the first group of ultra-wealthy individuals to set foot on the "stone plateau." The group consisted of six members: the American billionaire and his girlfriend, accompanied by a nurse, a fitness trainer, and a representative from the travel agency that provided the couple's services in Asia. Although they only stayed in Ha Giang for four days and three nights, the trip's plans had been prepared four months in advance, with the initial requirement being to book the entire resort. Following this group, in 2023, the resort continued to welcome two more ultra-wealthy groups: a Thai billionaire couple (September 2023) and a group of American young tycoons (December 2023).

For those in the tourism industry in Lao Cai, many haven't forgotten the event when Mark Zuckerberg, the "owner" of the world's largest social network, Facebook, spent a day and a night (December 25-26, 2011) visiting Sa Pa. During his time in Sa Pa, the billionaire stayed at the Topas Ecolodge resort, and also enjoyed hiking to explore the villages, cycling with his girlfriend, riding buffaloes, and even playing blindfolded tag.

A common thread among the ultra-wealthy when traveling to Vietnam is a tendency to experience luxury services to assert their wealth, power, and status, while also demonstrating a refined appreciation for cultural values and heritage. This ultra-wealthy market segment includes prominent businesspeople, retired politicians and leaders, superstars in the arts, performing arts, and sports.

Nguyen Duc Hanh, CEO of All Asia Vacation – the company that organized the trip for American billionaire Bill Gates in early March – shared that the company has hosted many ultra-wealthy clients from around the world, including Hollywood stars, singers, tennis legends, and CEOs of leading technology companies. Clients spend an average of $500 per person per day, with some even spending up to $15,000 per day.

However, ultra-wealthy tourists are very demanding, with detailed requirements for meals, transportation, accommodation, and especially for uniqueness and privacy. For example, during a trip to Ha Giang, a group of American billionaires requested that the resort keep their itinerary confidential, not accept any other guests during their stay, and that the daily menu be deleted after the group left.

This illustrates that attracting the world's super-rich is indeed not easy, but it represents a tourism "gold mine" if exploited. According to the Director of the Department of Tourism, Ha Van Thang, Lao Cai has many potentials and conditions to meet the demands of the super-rich, such as its unique natural beauty, cultural identity, and especially its world-class resorts like Topas Ecolodge and Lady Hill Sa Pa. In recent times, although not many, Lao Cai has welcomed a number of world billionaires for tourism and relaxation.

According to the Director of the Department of Tourism, Lao Cai always pays attention to and does not discriminate between different segments of tourists. However, Lao Cai is also proactively researching and strengthening promotion to attract ultra-wealthy tourists. In recent times, the province's tourism industry has paid considerable attention to the ultra-wealthy tourist segment through various promotional and marketing activities at tourism events.

"Certainly, in the future, opportunities to attract ultra-wealthy tourists will expand in Lao Cai, because we have both the necessary and sufficient conditions. The only issue is that travel agencies, tourism businesses, and localities need to focus on designing unique services to meet their special needs and expectations," Mr. Ha Van Thang affirmed.

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