Laos is one of the fastest-growing nations in South East Asia, with up to eight percent GDP growth over the past few years. In addition to infrastructural and industrial developments underway that are set to boost economic growth and attract foreign investment, there is also a strong upward trend in its tourism sector. Last year, Laos received 4.23 million visitors—a 10-percent growth over the last five years. Also, visitor arrivals are expected to double to 8.2 million by 2025.
“The country’s growing prominence as a business and tourism destination is in line with our strategic expansion plans in Laos, which include Crowne Plaza Vientiane, the first internationally branded upscale hotel in Vientiane, and the upcoming Holiday Inn & Suites Vientiane,” Rajit Sukumaran, CDO, Asia Middle East Africa, IHG, said in a statement.
Developer BIM Group owns the Crowne Plaza Vientiane, which opened earlier this year.