Burma Tourism Market Eyes a US$ 1.52 Million Upturn by 2032 Anchored in the Surge of Recreational Activities | FMI

The Burma tourism market is poised to reach a valuation of US$ 1.02 Million in 2022. Sales are projected to increase at a 2% CAGR, with the market size reaching US$ 1.52 Million by 2032.

The Myanmar’s government has stated that it will invest 500 million USD to modernize its tourism infrastructure. The Asian Development Bank and the Norwegian government will work together to carry out the strategy.

Creating a Tourism Executive Coordination Board to house numerous tourism-related agencies is the cornerstone of the growth plan. New police infrastructure for tourists is also described in the plan. The 38 projects in Myanmar’s development plan are aimed at all forms of transportation. The Mandalay and Nay Pyi Taw airports’ capacities will be emphasized in order to promote greater air travel by tourists.

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The Bagan river port will have upgrades in order to attract more cruises. Of course, plans also call for adding extra highways in places with a high tourist density.

The Myanmar Tourism Master Plan has six strategy programs. The strategies include enhancing destination planning and management safeguards and procedures, enhancing human resource capacity and promoting service quality, developing high-quality goods and services, enhancing connectivity and infrastructure related to tourism, and enhancing the image, position, and brand of Tourism Myanmar.

There are a number of beneficial social effects of tourism. Tourism may have an impact on local residents’ life objectives and open up options for business ownership. Additionally, a brand-new tourism facility could boost the people’ capacity to impact various political issues. If the community is taken into account throughout the design process a more sustainable solution might be devised where customs and It is possible to incorporate customs and foster cultural pride. The inhabitants of the host country may feel more confident and proud of its inter cultural interactions.

Key Takeaways:

• The Covid-19 pandemic had a 100% impact on the value of the Burma Tourism market.
• Cities like Mandalay and Yangon, religious sites in Bago, Pindaya, and Mon State, and nature trails in Putao, Kengtung, and Inle Lake are among the most visited places in Burma.
• Leading players in the Burma Tourism market are estimated to account for approximately 1%-4% of the total market share.
• By booking channel, the online booking segment is anticipated to hold a noteworthy share of 51%.
• In terms of age group, demand in the 26-35 segment will continue gaining traction through 2032.
• Based on tourist type, domestic tourist segment will remain high over the forecast period.

Who is winning?

Leading players of Burma Tourism are focusing on promotional strategies and advertising popular tourist destinations in Burma Tourism to improve sales in the market.

Major players present in the Burma Tourism market

• EMH Tours & Travel group
• Aitken Spence Travel
• Intrepid Travel
• Legend Travel
• Asia Focus Travel and among others