Vue.js 3 offers several advantages for web development projects:

Improved Performance - Vue.js 3 is significantly faster than Vue.js 2, with 50% shorter render times compared to other frameworks. It uses JavaScript Proxies to add or remove reactive objects efficiently.

Better Code Organization - The new Composition API in Vue.js 3 allows components to be broken down into reusable functional components, making the code more organized and reusable.

TypeScript Support - Vue.js 3's core is written in TypeScript, making it easier for TypeScript developers to work with Vue.

Small Size - Vue.js 3 has a small file size of around 10KB, which results in faster load times.

Ease of Integration - Vue.js can be easily integrated into existing web applications and projects due to its non-intrusive nature.

Flexibility - Vue.js allows developers to choose their preferred style of coding - using the Composition API or Options API. It also integrates well with HTML, CSS and preprocessors.

Customizability - Functions in Vue.js can be named according to developer preference, making the code base customizable.

Simplicity - Vue.js is considered one of the simplest JavaScript frameworks to learn and use, with a low barrier to entry.

Detailed Documentation - Vue.js has comprehensive and well-organized documentation that helps both beginners and advanced developers.

In summary, Vue.js 3 offers significant performance improvements, better code organization, TypeScript support, a small file size, ease of integration, flexibility, customizability, simplicity and good documentation - all of which make it a good choice for modern web development projects. The framework continues to evolve rapidly while retaining its core strengths of being approachable and versatile.