Hotel and Tourism MyanmarMyanmar Hotel and Tourism
Incorporated and responsible tourism - supporting economic change.
Hospitality and Tourism Sector Bags b Foreign Investment
Myanmar's hospitality and tourist sectors has been receiving 1.92 billion dollars in FDI in the 2013-14 financial year, the Ministry of Hotels and Tourism said. The Myanmar Investment Commission (MIC) approved a combined of 39 investment opportunities in this area, while Singapore was a leader in the hospitality and tourist industries of the recently opened South East Asia, with more than $880 million, more than 40 per cent of the overall investment, struggling with increasing tourist and investor demands.
Interest from global investor groups, particularly from Asia and Europe, in Myanmar's hospitality and tourist industries, which have seen an explosion of activity over the last two years and are preparing for further investments in the near-term. The MIC reports that it has made more investments in the hospitality market possible this past few months.
Forecasts by the Ministry of Hotels and Tourism predict the number of tourists arriving in the state this year to 3 million - in 2011 it was less than 500,000. Tourism destinations are projected to increase this year as many international travelers will come to Myanmar to participate in the ASEAN Summit that Myanmar will host during its ASEAN Chairmanship in 2014.
Myanmar last year drew more than 2 million visitors, of which 1. 14 million passed through frontier ports and 885,476 through the airport, with Thai and Chinatour ists first. Favourite travel locations such as Ngaplai Beaches in the state of Rakhine, Bagan in the Mandalay area, Myeik and Dawei in the Tanintharyi area are experiencing a booming building industry - run by domestic and international companies.
To stimulate the tourist industries, Myanmar opened four Myanmar-Thai frontier entrances and exits last August, including Tachileik-Maesai, Myawaddy-Maesot, Tiki-Sunarong and Kawthoung-Ranong. In December 2013 Myanmar had 923 properties with approximately 34,834 rooms, last year 787 according to the minister.
Myanmar's capitol Nay Pyi Taw now has 50 8,020 room accommodation, Yangon 232 10,175 room accommodation, Mandalay 104 4,439 room accommodation, Bagan 77 2,386 room accommodation and Taunggyi and Inle Lake has 70 1,939 room accommodation. Altogether 1,350 tourist enterprises, among them a non-German enterprise, 25 jointventures and 1,324 municipal enterprises, have been issued an operating permit by the Ministry of Hotel and Tourist Industry.
In addition, it has granted 196 tourism-related transportation permits and 3,667 operator licenses. In response to the increasing demands for accommodation, the Department has authorised the creation of 11 additional areas in three areas - Yangon, Mandalay and Taninthayi. Myanmar has also been planning to take out traveller insurances in the course of the drastic rise in the number of tourists arriving.