Singapore has topped the tourism investors list with US$1477.164 million, according to the
ministry’s official figure
MYANMAR’S tourism industry has a great future, said Hotel and Tourism Union Minister U Htay Aung at a press conference yesterday while inviting investors to make entrepreneurial inroads, especially on the country’s hundreds of islands.
Myanmar will top the list of tourist destinations, according to the World Travel and Tourism Council’s estimation about the future prospects and sustainable development of 180 countries between 2015 and 2025, based on tourism contribution to the GDP ratio, development rate, employment opportunities, investments and exports.
The country sees a massive influx of tourist every year.
Tourist arrivals up until now have reached more than 4.2 million, with the ministry estimating that the number will increase up to 5 million by April next year.
According to the ministry’s master plan (2013-2020) based on the country’s conditions, tourist arrivals are estimated to hit 7.49 million by 2020.
According to the official figures, there are 1,276 hotels with nearly 50,000 rooms across the country. The ministry has assumed that this number can satisfy increasing demands for hotel rooms to accommodate the rising number of tourists.
Singapore has topped the tourism investors list with US$1477.164 million, followed by Vietnam with $440 million and Thailand with $343.13 million.
The number of tourism companies has increased to 1,922 from 1,670 in 2014, 1,822 of which are citizen-owned companies. There were only around 600 such companies last year.
Transportation plays an essential part in tourism development, the Union Minister said, who added the country needs to focus on infrastructural development and improving services.