Vietnam’s Sun Group aims to make Phu Quoc Island the next Phuket or Bali

01-10-2020 |  

Vietnamese conglomerate Sun Group is intensifying its push to elevate Phu Quoc Island into a leading regional resort destination by coupling aviation expansion with integrated hospitality and entertainment assets.

A new analysis from CAPA – Center for Aviation, a global aviation intelligence provider, highlights the group’s strategy to position the island alongside Phuket, Bali, and Jeju within Asia’s competitive tourism landscape.

Phu Quoc Island has seen steadily rising visitor numbers, supported by Vietnam’s gradual airport privatization, infrastructure upgrades, and shifting regional tourism dynamics influenced by reduced travel to Thailand.

Sun Group, which operates Phu Quoc International Airport and several other aviation assets, is preparing to launch a new airline, initially targeting high-volume domestic routes before expanding internationally. According to CAPA, the carrier is expected to scale from eight aircraft by the end of 2025 to as many as 100 by 2030, including long-haul models.

Although the island has established links with several international markets, connectivity gaps remain. Sun Group is banking on its vertically and horizontally integrated model — spanning airports, airlines, hotels, attractions, and premium travel services — to improve access and capture higher-value visitor segments. CAPA describes the strategy as an emerging ecosystem in which the group controls the supply chain across air travel, accommodation, and tourism operations.

Phu Quoc Island’s appeal is also set to rise following a major policy shift in Vietnam’s gaming sector. Under Resolution No. 307/2025, issued on November 26th, the government granted permanent local entry at Corona Resort & Casino — the country’s first casino in Phu Quoc permitted to admit Vietnamese nationals on a non-pilot basis.

According to CAPA, the combined effect of expanded air connectivity and broadened access to casino gaming could accelerate Phu Quoc Island’s transformation into a top-tier tourism hub, mirroring integrated aviation-tourism models that have succeeded in Europe and the Americas.

Massive increase in hotel rooms

Speaking to AGB previously, gaming expert Ben Lee – Managing Partner of IGamiX Management and Consulting – noted that the Sun Group also was given a five-year locals-gaming allowance for the multi-billion-dollar property it is building in Van Don. The property is aiming for a 2032 launch.

But the group’s Phu Quoc aspirations are already being cemented, literally, with a “massive project” on the main island and another on the “neighboring island”. Lee indicated that the hotel complex on Phu Quoc itself could total up to 20,000 keys, possibly opening as early as 2027. Meanwhile, the development on the neighboring island could also bring up to another 20,000 room keys into play. “They are building close to Macau’s entire room inventory,” noted Lee.

The expert highlights how the group has leveraged itself to become the top real estate developer in the country in recent years, by creating infrastructure, reclaiming land, building theme parks, airports, creating its own airline (as well as a VIP charter airline) and focusing on the wider picture – which then can also leverage its potential reapplication for a locals gaming license or an expansion from its Van Don property.

Source: AGBrief