Can Malaysia hit 30 million tourists for Visit Malaysia 2020?

Question

Accepted Answer

Malaysia's Tourism Ambitions for Visit Malaysia 2020

Malaysia is actively working towards its ambitious target of attracting 30 million tourist arrivals for the Visit Malaysia 2020 campaign, aiming to generate approximately RM100 billion in income. The country has demonstrated positive growth in visitor numbers and expenditure in the initial stages, supported by significant government investment in tourism infrastructure. The campaign itself is slated for an early next year rollout, building upon existing developments and financial support mechanisms.
Visitor Arrivals Show Modest Growth

In the first quarter of the current year, Malaysia recorded 6.7 million tourist arrivals. This figure represents a 2.7 per cent increase compared to the same period in the previous year, when approximately 6.5 million visitors were registered. This upward trend in arrivals, though incremental, provides a foundation for the larger Visit Malaysia 2020 objectives.
Tourist Expenditure Experiences Significant Increase

Beyond the sheer number of visitors, the economic impact of tourism is also showing a strong positive trajectory. Tourist expenditure saw a substantial growth of 16.9 per cent in the first quarter of the current year. This indicates that while visitor numbers are rising, their spending within Malaysia is increasing at a more significant rate, contributing to the overall income generation target.
Government Investment in Tourism Infrastructure

The federal government has consistently invested in the development of Malaysia's tourism sector, leading to well-established infrastructure, particularly in urban tourist destinations. To further bolster these efforts, a RM1 billion Tourism Infrastructure Fund has been allocated. This fund offers financial assistance to companies engaged in tourism-related activities and services, supporting a wide range of projects beyond just hotels, including convention centers and facilities for education, medical, and agro-tourism.
Financial Support Mechanism for Tourism Development

The RM1 billion Tourism Infrastructure Fund is available until December 31, 2020, or until it is fully utilized. This facility, provided through Bank Pembangunan Malaysia, offers a subsidized interest rate, encouraging industry operators to develop and innovate new tourism products. The aim is to enhance the attractiveness of Malaysia as a destination and contribute to achieving the ambitious goals set for the Visit Malaysia 2020 campaign.

Reading history

Hide →

This history is cleared when the page is closed.

Can Malaysia hit 30 million tourists for Visit Malaysia 2020?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

0

0

0

Share with friends