Myanmar Industry Facts
- Tourism numbers are increasing rapidly with over 8 million arrivals expected in 2018. Compared with 3.1 million arrivals in 2014.
- Tourism receipts are expected to reach US$10.2 billion by 2020. Compared with US$905 million in 2014.
- Yangon’s new international airport is due for completion in 2022 and will have the capacity to handle 12 million passengers a year.
- Recent new entrants to Myanmar’s hotel developments include AccorHotels, Melia, HAGL, Daewoo-Amara, Daewoo International, Lotte Hotels & Resorts and Kempinski.
- The value of Myanmar retail industry grew 20% in 2014 with supermarkets and convenience stores expanding and stocking increasing amounts of international products due to increasing demand.
Myanmar Country Facts
- Myanmar has a large population of over 54 million.
- GDP expanded at over 8% pa from 2013 to 2015 and is expected to continue to expand at over 8% pa in 2016 and 2017.
- Geographically Myanmar connects the world’s two most populous countries of China and India, and serves as a bridge connecting South Asia and South East Asia.
- The ASEAN Economic Community (AEC) 2015 with a combined GDP of over US$3 trillion and population of 700 million will accelerate the development of Myanmar.
- Internet users are expanding between 25 to 50% y-o-y from 2013 to 2015.
- English is widely spoken.