Why you should invest in Myanmar tourism now
A man cycles along side tourist attraction U Bein Bridge near Amarapura. (Lorcan Lovett)

Over my nine years of living here, I have explored most areas of Myanmar. It’s an exotic, beautiful place, and nearly everywhere outside Yangon feels lost in time. In fact, the commercial hub also feels reminiscent of bygone days at times. 

I took the dive in 2016 to buy a tour company, Yangon Food Tours, from some friends that were leaving the country. After spending the previous four years at a start-up, I looking for something else and saw potential in the first and only food tour firm in Myanmar. 

In the few short years since then a number of similar companies have popped up, which is no surprise considering the tourism industry’s exponential potential (say that five times real fast). Visitor numbers, though, are relatively low. According to the tourism ministry, 3,551, 428 visited the country in 2018.  Compare that with 22,657,730 visitors to neighboring Thailand from January–July 2018.

Think about that for a moment. Thailand got 19 million more tourists than Myanmar and in half the time. In the Travels & Tourism Competitive Index 2017 of Southeast Asian Countries, Myanmar isn’t even listed with the other nine nations. Not even listed! And recently a drop in Western tourists has been linked to the recent Rakhine crisis.

So, where’s the silver lining? Well, luckily Myanmar knows it’s in last place, and it’s trying hard to budge. It has some of the most beautiful places in the world. In 2016, Rakhine State’s Ngapali Beach was ranked the best in Asia on Trip Advisor. The government is pushing hard for tourism investment, especially in rural areas, and it’s trying to do so responsibly. So what responsible tourism should you invest in?

Eco tourism

Eco tourism is an easy way to invest. Hikers take established trails from Kalaw to Inle, mountain climbers head to northern Kachin State, and Kayin State is abound with rolling hills holding huge caves. In addition to the mountain biking and wide rivers for boating is an ecosystem rich in wildlife. Even just north of Yangon at Hlawga Park (where I hang out with the monkeys) is a wildlife sanctuary.

Community based tourism

Myanmar is also rich with cultures and communities practicing traditions that encompass food, clothing, and business. The folks of northern Chin State are known for their wine and coffee.  In Shan State they are known for their food and the multitude of ethnic groups, like the Intha of Inle Lake who are famous for their way of rowing boats with their legs.

In all these areas there is a need for tourism infrastructure from hotels, transportation, and ways of allowing people to make money while promoting their lifestyle and culture.  Maybe Myanmar won’t become the next Thailand.  But if it comes close, don’t you want to say you invested here early?

 

Founder and CEO of Myanmar Business Answers
[email protected]

U.S. native and serial entrepreneur Ryan Russell is the founder and CEO of Myanmar Business Answers, a market entry consulting firm.  He has been living in Myanmar for nine years.