Myanmar Tourism Report Q2 2018
The Myanmar tourism industry remains at a nascent stage of development and the sector is poised for steady growthover the short and medium terms. A number of factors will steadily improve the fundamentals of the tourism industry includingreduced visa restrictions, rising spending powers in key source markets and a steady uptick in demand for global air travel. Furthergrowth in the market will be supported by the steady investments made by international and regional hotel groups in developingthe accommodations sector - thus bringing much needed diversity to the competitive hotel landscape. We note that activepromotion of the country as a global tourism destination will also yield fruitful dividends in the Asia Pacific region as Myanmar raisesits profile as a competitive tourism destination. The development of the industry faces a number of risks including ongoing violencein the Rakhine State, the persecution of the Muslim Rohingya minority and sectarian conflict in the country. We note that the ethnicconflict of H217 poses significant downside risks to our otherwise positive five-year outlook.
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