This year's festival will run from November 9-15 at the Awaiyar hot air balloon square in Taunggyi, the capital of Shan state.
"This year, new technologies, along with traditional methods, will be used for the opening and closing ceremonies," said an official from the Southern Shan State Traditional Hot-air Balloon Professionals Association, Xinhua news agency reported.
Approximately 150 to 200 hot air balloons are expected to be launched during the festival. The exact number is to be confirmed by the end of the month, the official said.
The festival aims to boost local businesses and preserve traditional celebrations, he said, adding that authorities are working to have the Taunggyi Hot Air Balloon Festival included on the UNESCO World Heritage List.
The Taunggyi hot air balloon festival traditionally takes place on the full moon of Tazaungmon, the eighth month of the Myanmar calendar, and dates back to 1894.