Thursday, September 21, 2017

Burger King finds new throne at Yangon International Airport

A new king has been crowned at Yangon International Airport. Global fast-food giant Burger King opened its doors in Terminal 1 on July 1 – marking its first entry into Myanmar.

The airport outlet’s launch follows similar bids made by fast-food rivals KFC and Pizza Hut – both Yum! Brands franchises – into the local restaurant market, which Daiwa Institute of Research has valued at almost US$3 billion.

Thai-headquartered firm Minor Food Group was behind the opening of the Yangon Burger King branch, confirmed a Bangkok-based official in the company’s marketing department.

The official said there were no immediate plans for a second location, but was unable to comment on the firm’s business plans for Myanmar.

The past few years have seen a surge in investment from food and beverage businesses hoping to capitalise on the country’s near-greenfield status.

McKinsey Global Institute said in a 2013 report that the country’s consumer class – those with enough income for discretionary spending – could jump to 19 million people within 15 years, which would mean a spike in consumer spending to $100 billion, as previously reported by The Myanmar Times.

Minor Food Group’s brands include The Pizza Company and Swensen’s, both already operational in Myanmar.

A new branch of the Swensen’s ice cream franchise opened its doors in Terminal 1 at the same time as Burger King, according to a Facebook post by Yangon International Airport.

The post also said the new restaurant serves departing passengers that have gone through immigration and security – which means that for now, buying a burger requires an airplane ticket out of Yangon.