Home MMBIZ News Myanmar Attracts More Tourists and Investment, but Profitability Declining

Myanmar Attracts More Tourists and Investment, but Profitability Declining

In 2014, Myanmar attracted 3.05 million tourists, up 50 percent from the 2.04 million a year previous, but tourists are spending less per person, official figures show.

Earnings in 2014 amounted to $1.135 billion in 2014, up from $914 million in 2013. Although the number of visitors surged in the past year, the money spent per visit has been declining, from $448 per visit in 2013 to $372 last year.

As Myanmar becomes a more mainstream travel destination, more budget tourists are expected to arrive in the country, raising demand for cheap accommodation and tourist activities.

The Myanmar tourist industry attracted $2.56 billion in foreign investment in 2014, according to the Ministry of Hotels and Tourism. Singapore invested the most, investing $1.53 billion, followed by Vietnam, Thailand, Hong Kong, and Japan.

The tourism industry accounts for 4.2 percent of the total GDP, and represents 6.5 percent of the total jobs available in Myanmar, according to official numbers.

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