Biz events industry to bring in 2.9m visitors by 2020

Malaysia’s business events industry is expected to generate more than RM3.9 billion in gross national income (GNI) and bring in 2.9 million visitors by 2020, said Tourism and Culture Minister Datuk Seri Mohamed Nazri Abdul Aziz.

He said the industry would also offer 16,720 jobs and last year alone, 5.1% of tourist arrivals came from business event visitors.

“Business events are a catalyst for socio-economic growth. The impact from hosting international business events not only stretches beyond direct spending and job creation, but also amplifies the benefits beyond tourism.

“The legacy impact will help power Malaysia’s continued development as a knowledge and creative society,” said Mohamed Nazri in his opening speech at the Malaysia Business Events Week 2017 in Kuala Lumpur yesterday.

Also present were Malaysia Convention and Exhibition Bureau (MyCEB) CEO Datuk Zulkefli Sharif and Economic Planning Unit deputy DG (human capital) Johan Mahmood Merican.

Mohamed Nazri said the industry was also linked to all National Key Economic Areas in high-growth sectors, including health, finance, investment an education.

“Within a one-year span and up to August 2017, we had secured an impressive 73 events, about 60,665 delegates and RM555.53 million in estimated economic impact,” he added.

He said topping the list was the medical and pharmaceutical sectors with 22 events, 20,900 delegates and RM166.45 million in estimated economic impact.

“This was followed by the education sector with nine events, 12,850 delegates and RM146.77 million in estimated economic impact, as well as the science and technology sector with 12 events, 5,663 delegates and RM57.1 million in estimated economic impact.

“These efforts have stimulated the industry to diversify its offerings and capitalise on numerous opportunities, where we look forward to having all ministries in Malaysia to be work- ing in strategic collaboration with MyCEB, to build on Malaysia’s prominence as one of the region’s leading business events destination,” he added.

Meanwhile, Mohamed Nazri said the ministry had no intention to make it illegal for homeowners to rent out homes to tourists. — Bernama