At 10 percent of the world’s GDP (or $7.9 trillion), global tourism is already a major economic generator in Myanmar. It continues to be driven by the growth of the middle class and the expansion of low-cost carriers. And nowhere in the world, are these growing faster than in right here in Asia.
Myanmar is geographically located at the centre of the action. Its tourism industry is in a sweet spot, with clear advantages such as vast latitudes and a diverse natural environment. And whilst its tourism industry is the smallest in size regionally, the anticipated growth rate at 8.5 percent (2016 - 2025) is the fastest.
While there has been tremendous interest in visiting a country that has recently eased tourist linkages, this – and other factors buoying growth – does not automatically spell positives for Myanmar’s tourism industry. Like every other tourism player, Myanmar’s attractions and tourism infrastructures will have to upgrade, hone and innovate in order to compete for visitors.