Travel & Tourism - Myanmar | Statista Market Forecast

The projected revenue for Myanmar's Travel & Tourism market is set to reach US$562.40m by 2024, with a CAGR of 7.67% from 2024 to 2029.
This growth rate is expected to result in a projected market volume of US$814.00m by 2029.
Hotels are the market's largest market in Myanmar, with a projected market volume of US$287.90m by 2024.
The number of users in this market is expected to reach 3.30m users by 2029.
As for user penetration, it is 7.9% in 2024 and is expected to increase to 9.4% by 2029.
Additionally, the average revenue per user (ARPU) is projected to be US$129.00.
Online sales are expected to generate 71% of the total revenue in Myanmar's Travel & Tourism market by 2029.
When compared globally, United States is expected to generate the most revenue, with US$214bn in 2024.
Myanmar's Travel & Tourism industry is experiencing a rise in demand due to the country's rich cultural heritage and untouched natural beauty.

Definition:

The Travel & Tourism market encompasses a diverse range of accommodation services catering to the needs and preferences of travelers. This dynamic market includes package holidays, hotel accommodations, private vacation rentals, camping experiences, and cruises.

Structure:

The market consists of five further markets.

The Cruises market covers multi-day vacation trips on a cruise ship. The Cruises market encompasses exclusively passenger ticket revenues.
The Vacation Rentals market comprises of private accommodation bookings which includes private holiday homes and houses as well as short-term rental of private rooms or flats.
The Hotels market includes stays in hotels and professionally run guest houses.
The Package Holidays market comprises of travel deals that normally contain travel and accommodation sold for one price, although optional further provisions can be included such as catering and tourist services.
The Camping market includes bookings at camping sites for pitches using tents, campervans, or trailers. These can be associated with big chains or privately managed campsites.

Additional Information:

The main performance indicators of the Travel & Tourism market are revenues, average revenue per user (ARPU), users and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the above-mentioned markets. Users represent the aggregated number of guests. Each user is only counted once per year. Additional definitions for each market can be found within the respective market pages.

The booking volume includes all booked travels made by users from the selected region, independent of the departure and arrival. The scope includes domestic and outbound travel.

Prominent players in this sector include online travel agencies (OTAs) like Expedia and Opodo, as well as tour operators such as TUI. Specialized platforms like Hotels.com, Booking.com, and Airbnb facilitate the online booking of hotels and private accommodations, contributing significantly to the market's vibrancy.

For further information on the data displayed, refer to the info button right next to each box.

Bookings directly via the website of the service provider, travel agencies, online travel agencies (OTAs) or telephone

Business trips
Other forms of trips (e.g. excursions, etc.)

Myanmar's Travel & Tourism market is showing promising signs of growth and development.

Customer preferences: Travelers in Myanmar are increasingly seeking unique and authentic experiences, moving away from traditional tourist hotspots to explore off-the-beaten-path destinations. There is a growing demand for sustainable and responsible travel options, with tourists showing a preference for eco-friendly accommodations and activities that support local communities.

Trends in the market: One notable trend in Myanmar's Travel & Tourism market is the rise of adventure tourism, with more visitors looking to engage in activities such as trekking, cycling, and river cruises. This shift towards experiential travel is driving the development of new tour packages and services that cater to adventurous travelers. Additionally, the country's rich cultural heritage and diverse landscapes are attracting a growing number of cultural and nature enthusiasts.

Local special circumstances: Myanmar's unique cultural heritage, including ancient temples, pagodas, and traditions, sets it apart as a distinctive travel destination in the region. The country's recent opening up to international tourism has sparked interest among travelers looking to explore its unspoiled beauty and immerse themselves in its rich history. The warm hospitality of the local population and the opportunity to engage with different ethnic groups add to the allure of visiting Myanmar.

Underlying macroeconomic factors: The gradual easing of travel restrictions, improved infrastructure, and government initiatives to promote tourism are key factors driving the growth of Myanmar's Travel & Tourism market. Economic development in the country has led to an increase in disposable income among the local population, contributing to a rise in domestic travel. Furthermore, investments in hospitality and tourism-related infrastructure are enhancing the overall travel experience for visitors, supporting the sector's expansion.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings, revenues, and sales channels of hotels, vacation rentals, cruises, package holidays, and camping.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, the Global Consumer Survey, third-party studies and reports, data from industry associations (e.g., UNWTO), and price data of major players in respective markets. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as country-related GDP, demographic data (e.g., population), tourism spending, consumer spending, internet penetration, and device penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, and exponential trend smoothing methods are applied. A k-means cluster analysis allows for the estimation of similar countries. The main drivers are tourism GDP per capita and respective price indices.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

Business or corporate travel is the tourism segment that focuses on people who travel for work or professional purposes and the related tourism services. This branch also includes the meetings industry, which refers to business events, conferences, congresses, trade fairs, and exhibitions. According to the World Travel and Tourism Council (WTTC), business travel accounted for 20 percent of the global tourism expenditure in 2021. In that year, it was estimated that business travelers spent more than 740 billion U.S. dollars worldwide, with Chinese tourists topping the ranking of the biggest business travel spenders.