Tourism powers nearly 40% economic growth in Phu Quoc

Phu Quoc welcomed an estimated 8.57 million-plus visitors in the first nine months of 2026, up 30.5% year on year, including more than 1.92 million international arrivals, an increase of 60.2%.

According to the People’s Committee of Phu Quoc Special Zone, the island’s gross regional domestic product exceeded VND 39.166 trillion in the first nine months of 2026, a year-on-year increase of 39.41%. The results reflect the momentum of the local economy as infrastructure and services expand ahead of the APEC 2027 Summit.

A key foundation for this growth is an economy anchored in tourism and services. According to the Phu Quoc Special Zone’s official portal, the sector accounts for around 70% of total production value. With such a substantial share, developments in the tourism market have a significant influence on business activity across the island.

In the first nine months of 2026, Phu Quoc welcomed an estimated 8.57 million-plus visitors, up 30.5% year on year, with international arrivals exceeding 1.92 million, an increase of 60.2%. Tourism revenue reached approximately VND 45.976 trillion, up 47.7% and exceeding the full-year target by 1%. Against An Giang’s total tourism revenue of VND 57.922 trillion, Phu Quoc contributed nearly 80%, reaffirming its role as the province’s leading tourism growth engine.

Tourism offerings developed and connected into seamless experiences generate business revenue and create new opportunities for local household businesses and suppliers. Pictured: Kiss of the Sea.

Notably, revenue grew faster than visitor numbers, indicating an increase in average tourism revenue per visit. This is an encouraging sign for a development approach focused on greater tourism value, as the destination expands its markets while enhancing the value of each holiday.

Tourism’s wider economic impact is evident in the demand for services. Visitors need accommodation, transport, dining, shopping and leisure activities. Their spending generates revenue for businesses and creates more opportunities for local household businesses and suppliers. Developing tourism offerings therefore also helps expand the market for a broad range of economic activities.

Unlocking this potential depends in part on connecting individual experiences into seamless itineraries. Associate Professor Dr Pham Trung Luong, former Deputy Director of the Institute for Tourism Development Research, believes that spreading experiences across different times of day can generate greater value from the same visitor base. Activities that continue from day into night create additional opportunities for dining, retail and entertainment, while making more effective use of infrastructure.

In southern Phu Quoc, the range of experiences developed by Sun Group illustrates how services can connect from day to night. Visitors can take the three-wire cable car to Hon Thom and enjoy daytime leisure activities, watch the sunset by Kiss Bridge, then continue their evening with Kiss of the Sea, Symphony of the Sea and fireworks, before exploring the night market and dining scene in Sunset Town.

In southern Phu Quoc, Sun Group’s range of experiences demonstrates how services can connect from day to night. Pictured: the Hon Thom three-wire cable car.

These evening attractions create further opportunities for holiday spending: a show can be combined with dining, shopping and transport, generating demand for a variety of service providers. If the connected experiences are compelling enough to encourage longer stays, accommodation providers also have an opportunity to increase revenue. The value of linking tourism offerings can therefore extend to businesses across the area.

In its draft proposal to seek recognition of the whole of Phu Quoc as a special economic zone, An Giang also prioritises international tourism, conferences, healthcare and the marine economy, while emphasising the use of infrastructure beyond APEC 2027. This direction opens up further opportunities to develop high-value services on the foundations of an established tourism market.

With tourism and services at the heart of its economy, Phu Quoc’s growth potential lies both in its ability to attract visitors and in the value generated by each holiday. Ahead of APEC 2027, connecting tourism offerings, raising service standards and expanding business opportunities for local communities will help the island make better use of visitor flows and the infrastructure now being developed. Together, these efforts provide a foundation for sustaining today’s economic momentum beyond the event.