Up to now, only 10 hotel and resort projects were allowed to be built on 12 islands in Tanintharyi Region and these projects attracted quite an interest from the part of local investors as an opportunity offering secure and good returns due to the limited number of properties planned. All of these projects are approved by the Myanmar Investment Commission (MIC). Some are already fully operational and others are ready to open this year. What the owners and investors fear is not just mere competition.
The islands of the Myeik archipelago boast pristine waters and beaches and the luxury resorts there are aiming at the high-end travellers in an effort to compete the famous resorts in Maldives. Some resorts are planning to launch seaplane and helicopter services to attract wealthy crowd. Now, with more properties set to appear on the same islands, the risk of mismanagement and environmental issues increases and that can easily put off the well-being visitors.
Rather unexpectedly, the locals are not happy with a perspective of new resorts to appear on the islands stressing that both fishermen and residents rely on the islands for their livelihoods, and the hotel development plans could jeopardise local livelihoods.
Myeik Archipelago to Get More Resort Hotels Soon
News in Asia
The regional government is encouraging new projects to develop on the islands of the Myeik archipelago in Myanmar. While for tourists this is definitely good news, the local investors are worried.