1,432 Hotel Licences Issued

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The Ministry of Hotels and Tourism says it has issued licences to 1,432 hotels and guest houses, including 27 with foreign investment.

By last month the ministry approved 421 licences in Mandalay Region, 354 in Yangon Region and 290 in Shan State.

There are reportedly more than 56,000 hotel rooms in the country with 17,700 in Yangon. There are five hotels with joint investment and 21 government-owned hotels. The ministry has allowed foreign-owned hotels in Yangon, Mandalay, Bagan, Kawthoung, Tachilek and Myeik.

Investment in hotel construction reached more than US$3 billion. Singapore has led investment with US$1.6 billion, partly because it was used as a conduit by the US and other countries that imposed sanctions on Myanmar.

Thailand invested US$445 million and Vietnam US$440 million, according to the ministry.

Citizen investment is increasing, according to the Directorate of Investment and Company Administration.

Last year, the country saw tourist arrivals of 2.9 million, a 38-per-cent decline from the same period in 2015.

 

Source: Eleven Myanmar

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