Since Burma, also known as Myanmar, opened its doors to the world in 2011, tourism has nearly tripled.
That’s good news for entrepreneurs like Myint Thein Tun. His fourth-generation textile weaving business and silk shop has become a destination for vacationers looking to buy local silk.
Visitors to the once cash-based country often didn’t bring enough hard currency to cover travel costs and still splurge on souvenir luxuries like Lotus silk.
That all changed when Burma partnered with companies like Visa to build a secure and reliable payment infrastructure, allowing businesses to accept credit cards.
Today, Khit Sunn Yin Silk Shop has seen a dramatic increase in daily sales – from $800 (US dollars) per day to $11,000, a leap of 1375%.
“I never expected the card sales to be so high,” says Tun.
Watch him tell his inspiring story in the video above.
Content on this page is brought to you by Visa, sponsor of the Financial inclusion hub.
