The following paper aims conducts a case study on how foreign firms are currently adapting to changes in Myanmar’s economy and successfully entering the country. A framework for analyzing business sectors in emerging countries was adopted as foundation for the research. The framework was expanded to include an analysis of the external social and economic impacts investment in a sector can generate. The study found that the demand for tourism is growing tremendously in the region due a variety of factors including countries improved foreign relations, easing access for tourists and improved investment climate. However, challenges and barriers to entry were found to be prevalent.