A Study of Myanmar Seafarers' Impact on National Economy

Shortage of trained seafarers is an issue, which many ship-owners are facing and, according to recent studies, the shortfall of both officers and rating will worsen in the next few years. The key role of seafarers is of fundamental importance in international trade, as they are the ones responsible for safely manning and operating ships. In developing countries, they also perform a strategic aspect in terms of contribution to GDP, mainly by earning foreign currency and increasing national consumption of goods and services. Myanmar is still considered a developing country with an economy, which has only recently started growing steady. It is also one of the major seafarers supplying nations and the contribution, which seafarers have on the national GDP may be particularly significant in comparison to other countries. This study aims at investigating seafarers' impact towards the Myanmar national economy. The paper describes the status of Myanmar seafarers, and the seafarers' current and forecasted impact towards the Myanmar economy through a regression model. The study concludes with recommendations to make Myanmar seafarers more competitive internationally and increase their economic contribution nationally.