Occupying a strategic position at the crossroads of India, China and Thailand, and now in its seventh year of sweeping economic liberalisation and political transition, Myanmar remains one of the fastest-growing economies in South-east Asia.
Myanmar’s rapidly expanding retail and wholesale sectors have been opened up to overseas investors, with newly announced reforms allowing for 100% foreign ownership, though some restrictions remain in place.
Increased investment in import and distribution capacity should help Myanmar satisfy its growing appetite for liquefied petroleum gas (LPG), with the government looking to encourage usage of the fuel as part of plans to direct electricity towards industry.
Favourable weather conditions and improved yields have helped drive a return to growth in Myanmar’s agricultural sector, a trend likely to be supported by government efforts to embrace modern farming methods to ensure long-term sustainable development.
The rising disposable incomes of Myanmar’s rapidly growing middle class are changing the make-up of local retail, driving demand for aspirational goods and quality floor space.
After Myanmar began the transition to democracy, international tourism was not the only segment that thrived. Following decades of restrictions on domestic movement, local people are now largely free to explore the country. This has allowed domestic tourists to travel to previously closed regions to visit family and to make pilgrimages to holy...
With an increase in national income and higher living standards, in what ways do you see domestic tourism shaping the future of the sector as a whole?