Hotels to close in Mon State

November 6, 2021

HURFOM: Due to COVID-19 and the country’s on-going political crisis, hotel and tourism in Mon State has hit rock bottom. Hotel owners are now considering closing their properties.

Most of the economic sectors in Mon State are facing a severe crisis due to COVID-19 and the military coup. Many business owners are now planning to close their enterprises.

“The losses are too much. We had to close the hotel before due to the pandemic. Now, unstable politics is the new crisis due to the military coup. Those who have opposed the coup have started an armed revolution and there are frequent killings and attacks. We think the economy can’t recover easily. Hotel owners are having headaches. Some are considering selling, while others are trying to do another business,” said a hotel owner in Mawlamyine.

After the coup, the banking system, the hotel and tourism sector, factories and local SMEs, as well as enterprises dependent on foreign direct investment, are all in a dire situation.

“The hardest hit sector is hotel and tourism. The political situation is unstable so no one goes to travel. The hotel business can’t operate when there are no tourists,” said a businessman from Mawlamyie.

Another consequence of the unstable political situation is that gold prices have risen, while the value of Burmese currency has fallen. The US dollar has also become a strong business commodity in Burma, and these currency fluctuations are making it very difficult to operate a business.

Experts within the Mon State Hotel and Tourism sector believe the political crisis is not likely to be resolved in the short term.

“The situation won’t get better in the near future, so hotel owners want to sell their hotels and try another business,’ said a source familiar with the situation in Mawlamyine.

Written by Modinator · Filed Under News