The number of private jets in Việt Nam rose from nine to 15 in 2025. — Photo tienphong.vn

HÀ NỘI — Việt Nam recorded the fastest growth in private jet ownership in the Asia-Pacific region in 2025, with the number of aircraft rising to 15 from nine a year earlier, reflecting rising wealth and growing demand from the country's expanding class of entrepreneurs and ultra-high net worth individuals.

According to a report by aviation consultancy Asian Sky Group, cited by Nikkei Asia, Việt Nam's private jet fleet expanded by nearly 67 per cent over the past year, the strongest increase among Asia-Pacific markets.

The growth in private jets comes as wealth advisory firm Knight Frank in its Wealth Report 2026 predicts that Việt Nam will rank as the world's fourth fastest-growing market for individuals with net assets exceeding US$30 million by 2031.

According to Paul Desgrosseilliers, director of business aviation service provider ExecuJet Haite, said Việt Nam had no private jet market before 2020.

Vietnamese business leaders are increasingly chartering or owning private aircraft for long-haul business trips to North America and Europe, which allows them to avoid lengthy transit times on commercial flights.

This also enables executives to work efficiently and privately throughout their journey, he said.

The expanding fleet reflects broader wealth accumulation in Việt Nam, as the country's private sector continues to grow and a larger number of entrepreneurs join the ranks of high net worth individuals, Nikkei Asia reported.

Consultancy company McKinsey said the expansion of the ultra-rich class is also expected to drive demand for premium services, including investment advisory, wealth management, luxury travel and high-end healthcare.

However, Việt Nam's private aviation market remains relatively small compared to Singapore, Hong Kong and China.

Experts said that high operating costs, maintenance expenses, the need for specialised flight crews and limited airport infrastructure continue to constrain market growth, adding that prospects will depend on economic growth, continued wealth creation among entrepreneurs and further improvements to the regulatory framework governing private aircraft operations.

According to the Civil Aviation Authority of Vietnam, as of July 2023, the country had 45 aircraft licensed for general aviation operations, of which only eight were used for personal transportation. The remainder were deployed for offshore services, tourism flights, aerial surveys and other specialised operations. — VNS