The Malaysian Hospitality Industry - Mice

Published: 2021-06-29 07:06:52
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Poised for Growth
The Malaysian hospitality industry is growing on the back of increasing tourism and MICE activities.

Malaysia's Hospitality Industry is flourishing thanks to the 'Malaysia Truly Asia' campaigns carried out around the globe by Tourism Malaysia. The industry is experiencing additions in the form of hotels and hospitality-related services to cater for an increasing number of business travelers, as well as the tourism and Meeting-Incentives- Conventions-Exhibitions (MICE) industry segments.

Tourism Malaysia is also actively promoting the MICE segment to mark Malaysia as the preferred destination to hold such events. Malaysia's unique selling proposition is its strategic location as the hub of the Asia Pacific region, its sophisticated facilities and the lower cost compared with the rest of the region.

The hospitality industry appears to be flourishing in Kuala Lumpur, Johor Baru, Penang, Kota Kinabalu and Langkawi. A total of 24.6 million tourists entered Malaysia in 2010, marking an increase of 4.2% year-on-year compared with 23.6million in 2009.

The tourism industry in Malaysia continues to show resilience despite the global economic crisis. The total receipts in 2010 increased to RM56.50 billion compared with RM53.37 billion in 2009. Total receipts have been experiencing a steady 10-year compounded annual growth rate of 13%.

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