Dec 2, 2014

Myanmar tourism to earn US$900 million in 2014

Myanmar has seen a five-fold increase in tourism income over the last decade with the sector pulling in US$905 million in 2014, according to a report on the sector, released on November 30 from the Ministry of Hotels and Tourism.

The country brought in US$171 million in 2004 in comparison with US$905 million in 2014, said the report.

The upswing began in 2011 as the country opened up under the new government of President U Thein Sein; visitor numbers began to increase substantially and the tourism sector brought in US$300 million for the year.

The number of foreign arrivals in country between January and October 2014 reached 2.4 million and is project to climb as high as 3 million by the end of the year. This compares to figures of only 500,000 in 2004.

To coincide with this growth the number of new hotels and guesthouses is on the increase. The report notes that in 2004, Myanmar had 787 hotels with 28,000 rooms, by 2014, this number has risen to 1,076 hotels providing 42,000 rooms.

Myanmar’s tourism strategy envisages 5 million arrivals in 2015.

Source: Mizzima