Licensed money changers for tourists needed

The tourism industry is looking forward to the arrangements that will allow licensed money changers to provide services to foreign tourists.

In an event of the tourism industry held in Yangon on 25 May 2011, Chairman Dr Khin Shwe of Myanmar Tourism Entrepreneurs’ Association said arrangements would be made to set up currency exchange stalls.

“It would be more convenient if we could set up currency exchange stalls for foreign tourists. As credit cards are not available, money changers will be of great help to them. In other countries, money changers are at all busy places. Smooth monetary services can benefit the tourism industry,” said a tourism entrepreneur in Yangon.

At present, foreign tourists in Myanmar have to change their foreign currencies into the local currency as credit card system is not in practiced in Myanmar. Although they can use foreign currencies in major hotels and some restaurants, they have to use the local currency for other purposes on their tours.

Without credit cards service, foreign tourists who are not accustomed to carry cash faced difficulty in Myanmar, according to tour agencies.

As smooth monetary services play an important role in the development of the tourism industry, members of the association are trying to find out ways and means to overcome the problem, according to Dr. Khin Shwe.

“There should be licensed money changers at places like Bogyoke Aung San Market as well as at shopping centers and other tourist attractions.