Green investment in Myanmar encompasses financial initiatives aimed at enhancing the natural environment and promoting sustainable practices within the tourism industry. This strategic approach not only has the potential to bolster the state’s economy but also plays a pivotal role in climate change mitigation and the preservation of the nation’s invaluable natural resources.
While global attention is increasingly turning towards green businesses, many perceive the tourism industry as primarily involving hotels and tour guide services. However, the tourism sector is a multifaceted industry encompassing accommodation, hospitality, healthcare, transportation, energy, infrastructure development, urban and rural development, as well as support for micro, small, and medium-sized enterprises (MSMEs).
One noteworthy aspect is the inclusivity of green businesses, allowing people with disabilities and individuals from ethnic regions to engage in meaningful employment opportunities. Surveys reveal that 54 per cent of those employed in the tourism industry are women, highlighting its potential to empower entrepreneurs and MSMEs while simultaneously contributing to poverty alleviation and regional development. Furthermore, the tourism industry can significantly aid in the conservation of the ecological system and the development of digital infrastructure.
In a report by the World Travel and Tourism Council, it was disclosed that the tourism industry contributed to 7.6 per cent of the global Gross Domestic Product (GDP) in 2022, generating employment for 295 million people worldwide, constituting nine per cent of global employment. In Myanmar, the tourism industry contributed 2.1 per cent, equivalent to K2,448 billion, to the country’s GDP in 2022. Therefore, it is imperative to bolster the tourism sector in Myanmar to foster peace and prosperity.
Myanmar’s abundant green forests, mountains, diverse landscapes, ancient cultural heritage, ethnic traditions, waterfalls, snow-capped mountains, wildlife, migratory bird sanctuaries, beaches, and other breathtaking landmarks offer both opportunities and challenges for green investment.
In the tourism industry, the core objective is to create a comfortable and enjoyable experience for guests. This necessitates ongoing improvements in the quality of services and infrastructure within the tourism sector. Therefore, all stakeholders from various domains must unite in their efforts to advance the tourism sector, enhance socioeconomic conditions, and protect the environment.
Green investment in Myanmar’s tourism industry is not merely a financial endeavour; it is a holistic approach towards sustainable development, economic growth, and environmental conservation. By harnessing the potential of this sector and working collaboratively, Myanmar can continue to showcase its remarkable natural beauty and cultural richness while securing a brighter, more sustainable future for its people.
