Invest in Myanmar - For Investors Seeking Opportunities in Myanmar
Follow:
Invest Myanmar - The Myanmar Investment Gateway
NEWS BY TOPIC
General Information about Myanmar (1)
Business (131)
FDI in Myanmar (45)
Investments (59)
Macroeconomic Data (4)
Infrastructure (4)
Financial (17)
Economy (37)
Construction (1)
Politics (29)
Real Estate (1)
Investment Legislation (3)
Sports (1)
NEWS BY SECTOR
Telecommunications (27)
Law (14)
Infrastructure (20)
Education (2)
Banking (19)
Jewellery (1)
Stock Market (2)
Agriculture (35)
Real Estate (22)
Mining and Exploration (10)
Construction (29)
Energy (47)
Textile and Fashion (10)
Tourism (23)
Information Technology (11)
Food and Beverage (13)
Electronics (3)
Waste Management (1)
Automotive (9)
Logistics (4)
Renewable Energy (0)

US businessmen to invest in Myanmar hotel sector

US BUSINESSMEN TO INVEST IN MYANMAR HOTEL SECTOR
Date: 09/08/2013
Source: Mizzima
US businessmen to invest in Myanmar hotel sector

The Ministry of Hotels and Tourism announced that American businessmen have offered to invest in the hotel sector as privately owned enterprises or joint ventures with Myanmar partners.

The announcement was made after Senator Jim Webb, Christopher Kingsley from Brownstone Furniture and special delegates met with U Htay Aung, Minister of Hotels and Tourism.

The Americans have expressed interest to invest in Yangon, Pyin Oo Lwin and Bagan, to accommodate the growing number of visitors to Myanmar.

The Ministry of Hotel and Tourism office welcomed the interest to invest and explained the current situation in investment sectors.

There has been an unprecedented surge of foreign visitors to Myanmar since 2011. The number of visitors in 2012 skyrocketed to a record high of one million people. The demand for accommodation has hit the roof. However, Myanmar does not have the infrastructure to accommodate all the visitors yet. The issue has been widely covered in the international media. It has been reported that catering to the demands of all the visitors will not be possible for the next five years.

Hotels in Myanmar have also been criticized by local travel and tourism enterprises for its low standards and expensive rates, in comparison with other Asian countries.

Yangon, with 210 Hotels and a total of 9163 rooms, is facing an acute shortage of rooms. The Minster of Hotels and Tourism said that over 1000 of hotel rooms added by end of the year.


Topic: Business
Did You Know?
It is now quite easy to make international direct phone calls and to send faxes, email to worldwide. Internet access is available in most tourist destinations in Myanmar. ... More

Featured news story
Myanmar turns border with Thailand into gateway for foreign tourists
Myanmar turns border with Thailand into gateway for foreign tourists

Featured Video
BEST NEWS : Reform brings business to Myanmar - Invest Myanmar.biz video
BEST NEWS : Reform brings business to Myanmar

COUNTRY SNAPSHOT
GDP 2010 USD 45.4 B
GDP 2012 USD 54.0 B
Inflation 9.13 %
Unemployment Approx. 35%
GDP growth 2011 5.5 %
FDI 2011 USD 1.05 B
Today on Invest Myanmar
Member Companies: 82
News Stories: 341
Myanmar Videos: 59
Interesting Facts: 29
Factsheets: 9
 © Copyrighted 2012 Invest Myanmar.biz. All rights reserved.  

 
Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.



Crafted by Sofia Web Works®, makers of Pahraat Kasinot and Casinobonus på alla svenska online casinon an Invest Bulgaria company