Foreign companies are showing interest in Myanmar’s geostrategic location, abundant natural resources and youthful population. A focus on following international best business practices and reducing the informal economy, paired with an annual GDP growth forecast at around 6% in the coming years, is setting Myanmar on a path to catch up with some regional peers.
Myanmar is looking to capitalise on a recent tourism rebound and stimulate more investment in the sector, following efforts to improve access to credit for smaller operators.
Countries and regions across the world have long understood the potential of the MICE segment as a vehicle to drive high-value tourism and economic development. In recent decades this has led to significant investment, with nations working to position themselves as centres for the industry, both regionally and globally, aided by greater air...
What are your expectations for the homestay and ecotourism segments, and how is this likely to impact the market for hotels and lodging houses?
Over the course of less than two decades, China has gone from being a minor player to being the world’s largest and most lucrative source of outbound tourists. In 2017 alone Chinese nationals made more than 131m trips outside of their national borders, spending approximately $300bn in the process.
To what extent does the new Tourism Law address the concerns of both local and foreign tour operators, and ecotourism players?
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