CHAPTER 2 LITERATURE REVIEW 2.1 Country Profile
CHAPTER 2 LITERATURE REVIEW 2.1 Country Profile Region: East Asia & Pacific (Known as Southeast Asia) Country: The Republic of Union of Myanmar Capital: Naypyidaw Largest City: Yangon (7,355,075 in 2014) Currency: Myanmar Kyat Population: 7 million (2017) GNI Per Capital: (U$$) 1,293 (2017) GDP: $94.87 billion (2017) GDP Growth: 9.0% (2017) Inflation: 10.8% 2017 (The World Bank, 2016) Language: Myanmar, several dialects and English Religion: Over 80 percent of Myanmar Theravada Buddhism. There are Christians, Muslims, Hindus, and some animists. Business Hours: Banks: 09:30 – 15:00 Mon –Fri Office: 09:30-16:00 Mon-Fri Airport Tax: 10 US Dollars for departure at international gates Customs: Foreign currencies (above USD 10000), jewelry, cameras And electronic goods must be declared to the customs at The airport. Exports of antiques and archaeologically Valuable items are prohibited. 2.2 Myanmar Tourism Overview Myanmar has been recorded as one of Asia’s most prosperous economies in the region before World War II and expected to gain rapid industrialization. The country belongs rich natural resources and one of most educated nations in Southeast Asia. However, Myanmar economic was getting worst after military coup in 1962, which transform to be one of the poorest nations in the region. “Then military government centrally planned and inward looking strategies such as nationalization of all major industries and import-substitution polices had long been pursued (Ni Lar, 2012)”. These strategies were laydown under General Nay Win leadership theory so called “Burmese Way to Socialism”. Since then, the country economic getting into problems such as ‘inactive in industrial production, high inflection, resign living cost, and macroeconomic mismanagement’.
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