Burma wants to boost its food and hospitality standards to serve growing demand from international tourists, who are expected to number five million this year. Hotels and Tourism Minister Htay Aung called tourism one of Burma’s fastest-growing industries, with the growth rate tripling since the country opened its doors to foreign investors in 2011. Burmese […]
Yangon hotel market continues to boom
June 9, 2014 by
The social and economic reforms that began in Myanmar in 2011 have allowed tourism to flourish in the country. In the former capital city and still the commercial hub, Yangon, international arrivals grew 46% from 550,000 in 2012 to just over 800,000 in 2013. The number of arrivals in Yangon remains relatively small compared with […]
Tourism boom boosts Yangon hotels
May 21, 2014 by
The hotel market in Yangon is set to continue its record growth in 2014, following a 46% year-on-year rise in international visitor arrivals in 2013, according to the latest report from international consulting firm JLL. Centrepoint Towers Hotel, a US$100 million joint venture between Thai company L P Holding and Myanmar’s Ministry of Hotels and […]
Myanmar hotel sector to soar
March 28, 2014 by
MYANMAR — The hotel sector in rapidly-emerging Myanmar will continue to be supported by strong growth in the number of visitors to Yangon as a result of accelerated foreign investment, the boom in leisure tourism, as well as a lack of quality apartments. Myanmar is similar to Thailand 30 years ago in terms of tourism […]
Burma to Allow Foreign Banks to Begin Some Operations Next Year
December 9, 2013 by
Ground clearance and basic infrastructure preparation work has begun on an industrial estate inside the Thilawa Special Economic Zone, said the Japanese Kyodo News agency. A ceremony marking the start was attended by Japan’s Mitsubishi Corporation, Marubeni Corporation and Sumitomo Corporation plus nine Burmese business partners and Naypyidaw government representatives, said Kyodo. Mitsubishi, Marubeni and […]
Rich Myanmar people shun Yangon’s property boom to Invest in London
August 7, 2013 by
Burma’s richest citizens are taking their money out of the country and investing in upmarket property in London. While foreign investors queue to get into Asia’s so-called “last economic frontier,” millions of dollars are flowing out and into bricks and mortar in the capital of the former colonial rulers, a survey has disclosed. The volume […]
