VGS Hidden Castle plans to invest 15 million USD to open 10 technology golf clubs for the rich in Vietnam

Hidden Castle Golf Club was formerly known as VGS Hidden Castle - a technology golf model that was franchised and launched in Vietnam in early 2023. Hidden Castle Golf Club aims to open another club in Hanoi in 2024. In the next 3 years, a total of 10 more clubs will be developed across the country, with a total expected investment of 15 million USD.

Vietnam has received the title of best golf destination in Asia for 5 consecutive years. In 2019, 2021 and 2022, Vietnam was also selected as the world's best golf destination by the World Golf Awards (WGA), surpassing top golf destinations such as the US, New Zealand, and China. , Thailand, Korea, etc. In the latest move, VG Corp officially became the new investor of the Hidden Castle Golf Club technology golf system. VG Corp is the corporation that owns a large golf ecosystem in Vietnam today, including the vHandicap handicapping application with a number of users of nearly 100,000 golfers.

Mr. Vo Duy Nghia - Chairman of the Board of Directors and General Director of VG Corp, the new investor of Hidden Castle Golf Club, said: "Technology golf is a model that has been developed in many countries around the world and is gradually becoming popular. Happening in Vietnam recently. Technology golf has potential because it can bring an experience like a real golf course, integrating analytical technologies to help improve golfers' skills and competitiveness. Technology golf also helps overcome the barriers of real golf courses such as weather and time issues, especially useful for business golfers who have to travel constantly for work and have a tight meeting schedule, so it is not the time for anyone can go to the golf course to practice ."

The number of super-rich people in Vietnam has nearly doubled between 2017 and 2022. This report said: From 583 individuals in Vietnam with net assets above 30 million USD in 2017, by the end of last year this number had reached 1,059, an increase of 82% in just 5 years. Not only that, Vietnam's wealthy population - individuals with assets of $1 million or more - has also increased by 70% in the past 5 years, and is expected to skyrocket by 173% in just 10 years period from 2017 to 2027.

The rapid increase in wealth has opened up great opportunities for luxury goods industries in Vietnam, including golf. Statistics from R&A and global data from the National Golf Foundation show that from 2015 to 2022, the number of golfers in Vietnam has increased four times, from 25,000 people to about 100,000 people and is expected to reach about 300,000 people by 2025.

In addition, golf is also considered one of the factors that help attract foreign tourists. According to the Vietnam Tourism Association, in the first two months of 2023, Vietnam welcomes 1.8 million international visitors and serves 20 million domestic visitors, there will be up to 800,000 tourists coming to play golf. Most of the foreign visitors to Vietnam to play golf are from the US, Canada, Australia, Korea, Japan and Thailand.