Tourism industry in Myanmar is expected
to grow from 2010 output of US$0.6 billion (or US$600 million) to US$14.1
billion by 2030, which represents a compound annual growth rate of 17%.
Myanmar, similar to a few other
Asian countries, is perfect for adventurous tourists. Thailand is. So are
Vietnam and China. Myanmar, definitely. Pretty big. Not too clean. Exotic food.
Courteous people. Sunshine. Lots of unusually shaped temples and pagodas. Ruins
all over the place. A thousand years of horse and cow droppings, hawkers’
wagons, half naked kids in the baking sun, thenakah covered faces of women,
hand-holding men, and cheroot smokers, amidst historic pagodas and palaces.
Being one of few un-spoiled or
un-explored places left in the world, Myanmar tourism industry will ‘explode’
in a positive way for the next 15 years easily.
What are the specific business
opportunities for investors then? Nearly everything one can think of.
$600million tourism industry output
base is an extremely low base for a country the size of Myanmar, therefore,
not-surprisingly opportunities are everywhere in the tourism industry.
Hotels for 5-star tourists, in
addition to business hotels, hotels for backpackers, and everything in between
are desperately needed to be able to cope with the tourism boom. Tourism support
services such as local in-bound tour companies with well qualified and trained
staff are also a must. Air and land transport and related logistical support
services are also much highly in need.
In addition to the direct
requirements, there are a whole range of indirect or support areas related to
tourism industry too. Hospitality and vocational training schools to churn out
capable and well trained staff for the hotel and tourism industry rank high on
my list.
One specific reminder we would
like to add to this post is not to just focus on the top-end ‘5-star’- sectors
of the tourism market. Competition maybe less hectic in the 2-3 star sector.
Besides, initial investment may not be as high as required in the 5-star sector
of the market. With senior management level experience with Singapore-listed
The Ascott Group (world’s largest serviced residence group) and with Dubai-based
Jumeirah Group (world’s most luxurious hotel group), we are well positioned to
work with you for your long-term sustainable success in Myanmar.
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