(2015, September). The most pressing environmental issue with the country is deforestation and illegal logging with the international companies coming in the issue is expected to soar up even higher. Social and environmental part play a significant role equally in strategic management. (n.d.). The hospitality business incorporates all commercial entities associated with voluntary and recreational amenities marketed and offered to consumers for their business trips, diplomatic activities, and vacation. Scope of Myanmar – PESTEL Analysis Report Environmentalists and protectionists have started raising the concerns in front of government so much so that President Thein Sein put a stop to a dam project not only this the increased economic activity has made other projects like Dawei Special Economic Zone and Letpadaung copper mine questionable. However, every bank contributes its services to the well-being of people while the national banks help in the development of Government and economic policy.The banking industries are taking measures to create the business organisms which will stay under state control. Myanmar, officially the Republic of the Union of Myanmar, is a sovereign state in Southeast Asia bordered by Bangladesh, India, China, Laos and Thailand. Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues. Now when the door to development and progress has opened once again then Myanmar should try to benefit as much as possible from the situation. Myanmar has emerged in recent years as a sought-after tourist destination in a region known for its tourism attractions. The country started off as a democratic state but democracy was derailed in 1969 by General U Ne Win. Signup for our newsletter and get notified when we publish new articles for free! Threats • Political constraints and lack of international acceptance of Syria as tourism destination • Risks of conflict and instability in the region • Displacement of local handicrafts by imports from China, India, and Pakistan People have to carry cash along as there isn’t proper banking setup in Myanmar with few ATMs and even fewer credit cards. • Limited local acceptance of tourism • Lack of branding of handicraft products . This chapter includes the following articles. Tourists can visit most of the world ifthey can afford it, and this has really provided a major boost to the tourismindustry. Disrupted by Covid-19, will South-east Asia's super apps join forces? The isolation policy also hid many of their social problems like hiring underage children in military due to insufficient man power available to suppress the nation, use of children in illegal occupations. While infrastructure challenges remain, and low hotel occupancy rates affect small businesses, a decline in visitors from Western countries has had the biggest impact on the industry recently. PESTEL as acronym stands for political, economic, social, technological, environmental and legal factors, which influence the processes within a n organization. During this time Daw Aung San Suu Kyi rose as the prominent leader but she was jailed and then later house arrested for more than 15 years. LEGAL. Hotel Industry’s PESTEL analysis: Bottom line. It is a relatively safe country with low crime rate. Will RCEP help drive Asia’s Covid-19 recovery? PESTEL analysis provides great detail about operating challenges Myanmar Investments International Limited will face in prevalent macro environment other than competitive forces. This negative current account balance indicates that Myanmar is net borrower from the whole world. This does not alter their necks’ shape but definitely lowers the shoulder bone as a result of which their necks are exceptionally longer. means the use of the PESTEL model in analyzing the political, economic, social, technological, ecological and legal factors governing the tourism industry, adapted to the competitive environment. (luxury tourism) has been well developed around the world, it is an emerging tourism industry in the Chinese market. This means that not only does it consist of accommodation services, for instance, beds and breakfasts, motels, and hotels, but also it takes account of commercial activities, for example, events, cruise lines, entertainment… Myanmar was once the world’s largest rice exporter and centre for garment manufacturing but military regime and US sanctions took the status away from them. They have been bribed in the past by military to feed their own interests and hence the whole institution has lost its credibility and soundness. PESTEL analysis is the method to qualify or to analyze the assorted characteristics and traits of any industry like steel industry, power industry, etc, . PESTEL or PESTLE analysis, also known as PEST analysis, is a tool for business analysis of political, economic, social, and technological factors. Over the last 17 years, more than 1000 companies have seen great value in … Certain countries don’t even require a visa to travel to them,allowing for an even furthe… However, the discussion here is somewhat limited as the issue is beyond the scope of this article. The protests began killing thousands of innocent people and finally another military coupe ended this regime. From changing weather to changing governments, all these factors can impact it deeply. The roots to all economic problems lie in the policies of 1960s when General U Ne Win took over and started isolation Burma from the rest of the world. The aim of this project is to review the existing theory in terms of high-end tourism in China, position the market characteristics, investigate existing problems in new high-end tourism and give some proposal for improvement. The current account balance for Myanmar was estimated to be negative at USD 4.341 billions for the year 2016 and is expected to decline at a CAGR of 14.01% and reach USD 7.677 by 2022. Retrieved March 23, 2016, from The Teloegraph: http://www.telegraph.co.uk/news/worldnews/asia/burmamyanmar/9553065/Aung-San-Suu-Kyi-says-Burma-faces-huge-social-problems.html, Interesting Facts about Myanmar. Hospitality/Tourism Industry Pestel Analysis. SOCIAL. Myanmar PESTEL Analysis, SWOT Analysis and Risk Analysis Market Research Report Launched As per International Monetary Fund (IMF) Myanmar’s nominal gross domestic product is expected to grow at a CAGR of 14.93% from it’s 2015 level of MMK 72780.47 billion and … Retrieved March 23, 2016, from Asian Development Bank: http://www.adb.org/publications/asian-development-outlook-2015-update-enabling-women-energizing-asia, Bradford, L. (2012, November). The Myanmar Country Environmental Analysis sets out clear recommendations and actions for sustainable and inclusive development of th… Articles & Analysis | Myanmar Tourism Master Plan expands opportunities for diversification and sustainability from The Report: Myanmar 2020 The Myanmar Tourism Master Plan 2013-20 is diversifying the sector, while also ensuring that initiatives are implemented in a way that preserves and respects the country’s culture and natural beauty. Report written for the Ministry of Tourism and the Myanmar Tourism Committee in 2011. PESTEL. Find our research on the Bloomberg Terminal, Dow Jones Factiva, Eikon, S&P Capital IQ, LexisNexis and more. Myanmar has emerged in recent years as a sought-after tourist destination in a region known for its tourism attractions. Having established that Myanmar is an agriculture dependent country (59% of GDP), we know that weather conditions play a crucial role in determining each year’s produce. Since the country opened its doors through political reform in 2011, many have been attracted to its diverse landscapes, rich culture and heritage. If any of the industries is really too susceptible to the environmental factors then it is the hospitality industry. These can encompass: Strategic business planning. With the number of visitors from the US and Europe declining sharply over the past year, some tour companies and hoteliers have already started putting their employees on unpaid leave arrangements to cut costs. The travel and tourism industry is a profitable market that yields high returns (Industry analysis of travel and tourism industry 2010). They serve rice with everything and judge health with level of fat a person has accumulated. Explore other chapters from this report. So read the PESTEL analysis now. The industry is also overly reliant on the government; everything from potential tax reform to travel bans can cause the industry to crumble. 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