From life to cash flow: Strategies for creating the “soul” of sustainable tourism investment projects

Within the framework of the "Tourism Investment Project Management" module on the evening of April 16, 2026, Master's students in Tourism and Travel Services Management at faculty of tourism Van Lang University had the opportunity to access a distinct management mindset. Guest speaker Nguyen Ngoc Bich (Bobby Nguyen) delivered a valuable lesson: Tourism is not a packaged "product," but a "living system." 

When "Life" Leads, "Tourism" Follows

At the beginning of the session, Mr. Nguyen Ngoc Bich—Chairman of Rustic Hospitality Group and Manager of the Sustainable Product and Destination Development component for the Swiss Tourism for Sustainable Development Project in Vietnam (ST4SD)—posed a haunting reality: Why do 80% of sustainable, agricultural, and community-based tourism models in Vietnam typically "collapse" by their second year? 

The answer lies not in a lack of capital or poor marketing, but in a flawed starting mindset. Most investors begin with the "product" rather than the "life." Drawing on his experience leading international-scale sustainable development projects, Mr. Bich affirmed: "A tourism model only truly lives when the life at that location continues to exist without the need for tourism." If tourism is detached from the local heartbeat, we are merely building soulless "shells" that are easily discarded when the market fluctuates. 

Deciphering the Equation: From Soul to Cash Flow

How can abstract spiritual values be converted into sustainable cash flow for an investment project? This was the segment that garnered significant attention from the graduate students. 

According to Mr. Bich, the soul of a tourism project is built upon three pillars: Local Identity - Local People - Environmental Ecosystem. Within this framework, people must be the center of all activities. Instead of simply selling accommodation or pure sightseeing tours, project managers must learn how to sell "Transformation" and "Emotions." 

Through the practical case study of Mekong Rustic, the speaker demonstrated that when we design a high-quality "living system" - where locals continue to farm and maintain their natural lifestyle - tourists will naturally seek out that space to experience it. Cash flow then comes not only from lodging but also from local cuisine, experiential workshops, retreat activities, and other value-added products. This is the way to optimize revenue based on true value rather than exhausting resources. 

The Principle: "Fixed Soul – Flexible Operations"

In investment project management, rigidity often leads to failure. Mr. Bich shared a vital principle that helps projects evolve with the market: "Fixed Soul - Flexible Operations." Projects must remain steadfast in their identity, refusing to compromise on impacts that distort local culture and environment; simultaneously, they must ensure the management system's adaptability to political, economic fluctuations, and traveler trends. 

The speaker presented a "survival test" to the students: "If there were no tourists, could the local people in your project still survive?". If the answer is yes, that project has a sustainable investment foundation. When the "life test" is passed successfully, all economic resources and investments will naturally follow as an inevitable result. 

Connecting Corporate Excellence with Graduate Education

The Faculty of Tourism, Van Lang University, would like to express its sincere gratitude to Mr. Nguyen Ngoc Bich for dedicating his time and effort to sharing his professional "secrets" and philosophy of mindful living. Collaboration with leading business figures like Mr. Bich is a great motivation for the university to continue improving the quality of its training, providing the Vietnamese tourism industry with a team of high-level managers who are dedicated, visionary, and possess a sustainable development mindset.

News & Photos: Faculty of Tourism

The sharing session on the evening of April 16 was more than just a technical lecture; it was a dialogue between management theory and brutal operational reality. The critical insights from Mr. Nguyen Ngoc Bich helped students reassess the responsibility of a manager: Tourism investment is not just about short-term profit goals, but about creating sustainable values for the community and the future.