2014 Tourism Receipts Expected to Top $1 Billion

Myanmar’s tourism industry is expected to earn more than $1 billion this year, said U Thet Naign Toe, vice chairman of the Union of Myanmar Travel Association (UMTA).

In 2012 and 2013, income from tourism receipts were $534 million and $926 million respectively, according to statistics published by the Ministry of Hotel and Tourism.

Between January and May of this year, Myanmar’s tourism industry brought in more than $552 million with more than 1.05 million tourists visiting the country last year.

This year, Myanmar expects more than 3 million tourist arrivals, U Tin Tun Aung, secretary of UMTA said.

Arrivals from China and Japan make up the majority of tourists from Asia, while arrivals from France, Spain and Britain make up the largest number of tourists from Europe. Tourist arrivals from Thailand have slowed this year.

“Myanmar’s tourism industry is going to continue to develop; however, the hotel and service sector for tourists needs to be upgraded. Only then will more tourists visit Myanmar,” he continued.

According to UMTA, tourist arrivals have increased significantly since 2012.

Source: Myanmar BUSINESS TODAY

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