Myanmar Calls for Investment in Responsible Tourism

Against the backdrop of an increasing investment trend in tourism, Myanmar is heightening calls for more responsible and sustainable investment in the country’s tourism sector.

According to figures from the Myanmar Ministry of Hotels and Tourism, foreign direct investment in Myanmar’s hotel and tourism projects reached almost US$ 3 billion in 2016.

Singapore (US$ 1.6 billion) is on the top of the list as the biggest investor, followed by Thailand (US$ 445 million) and Vietnam (US$ 440 million).

As of November 2016, foreign direct investment in the tourism sector had generated 56 projects, compared with 48 projects in 2015 that totaled US$ 2.6 billion.

“The timing couldn’t be more perfect to invest in Myanmar as it opens up to the world. We have fantastic tourism destinations that need to be served with world-class hotels and resorts, unique travel experiences, and better infrastructure,” said Myanmar Union Minister of Hotels and Tourism H.E. U Ohn Maung (pictured). “Discovering Myanmar is more than visiting the archaeological sites in Bagan or our golden pagodas. We have excellent beaches, too. We invite travelers to make a trip down south and see the beautiful landscape, pristine beach and natural park in Mergui Archipelago, and enjoy festivals and the unique culture in Kayin, Chin, Mon and Kayah states.”

A proponent of Community Based Tourism (CBT), the Minister is also known for his efforts to push for income-generated measures for local people and expansion of tourism products.

Among some ongoing CBT projects in Myanmar are the Thandaung-gyi B&B, Tea Plantation, Small Butterfly Village and Forest Walks in Kayin State and the Eco Tourism project in Indawgyi Lake in Kachin State.

On the back of new investment regulations set to take effect this year, the Government of Myanmar is promising to make ways for privileged and preferential treatment of investors in the tourism sector.

“Our new investment law offers flexibility to meet the needs of local and overseas investors as well as ease of doing business in Myanmar. We’d like for the number of visitors to Myanmar to steadily rise in line with the current upward trend of investment. That’s why we highly encourage investors to come to Myanmar,” said Ministry of Hotels and Tourism Director General U Tint Thwin.

According to the World Travel and Tourism Council, Myanmar’s tourism sector contributed 5.9% to its total GDP in 2016. The figure is expected to rise to 7.8% per annum through to 2026.

Myanmar Tourism Update 2016

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