Biology of Business

Phu Yen

TL;DR

South Central coast province with Da Dia Reef (volcanic columnar basalt), drawing 4.1M visitors in 2024 (+27%) while developing the Nam Phu Yen Economic Zone for industrial diversification.

province in Vietnam

By Alex Denne

Phu Yen exists because volcanic activity created the Ganh Da Dia basalt columns—Vietnam's only coastal hexagonal rock formation—while tectonic processes carved bays, lagoons, and islands along 189km of coastline that tourism planners now zone as the province's primary economic asset. In 2024, visitor numbers hit 4.1 million (up 27% year-over-year), generating VND 8 trillion in revenue.

The formation story is geological spectacle meeting tourism development. The Da Dia Reef (Ganh Da Dia) displays columnar basalt rivaling Ireland's Giant's Causeway, formed when lava cooled rapidly against seawater. Cu Mong Lagoon, Xuan Dai Bay, O Loan Lagoon, and island clusters (Yen, Chua) provide diverse coastal ecosystems. The province's 2025-2030 Tourism Development Scheme divides this geography into four tourism spaces, with Tuy Hoa city as the hub and the northern coast as the resort zone.

The infrastructure follows planning. Tuy Hoa Airport is upgrading to handle 5 million passengers by 2050. The "One Journey, Three Destinations" program links Phu Yen with Binh Dinh and Khanh Hoa for Northeast Asian tourists. Agricultural tourism connects craft villages—Ganh Do fish sauce, Hoa Da rice paper, Phu My coracles—to tourist circuits.

The economy remains less industrialized than neighboring coastal provinces. Production focuses on fish, shrimp, cashew, and sugar processing. The Nam Phu Yen Economic Zone in Dong Hoa District represents the industrial diversification bet. The 52 tourism projects employing 6,780 workers suggest that services, not manufacturing, will drive growth.

By 2026, Phu Yen aims to convert geological accidents into sustainable revenue. The volcanic columns that cooled millions of years ago now heat up Instagram feeds; the lagoons that trapped sediment now trap tourist dollars. Whether the province can scale tourism without eroding the landscapes tourists come to see will test the distinction between development and destruction.

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