Tuesday, 2 July 2024

Motac: 1Q2024 Tourism Earnings Top RM22b!

Malaysia welcomed over 7.56 million foreign tourists in the first four months of the year, marking a growth of 27.5% compared to the same period last year. Tourism, Arts and Culture Minister noted that this achievement places Malaysia as the second-highest recipient of foreign tourists in Asean, behind Thailand with 12 million tourists and ahead of Vietnam with 6.2 million, Singapore with 5.71 million, and Indonesia with 4.1 million during the same period.

During the first quarter, Malaysian tourism contributed RM22.23 billion to the national coffers, reflecting a 66% increase compared to the first quarter of 2023. In 2023, total tourism revenue amounted to RM71.31 billion, up from RM28.23 billion in 2022.

Motac has implemented a comprehensive strategy to further boost the tourism sector. This includes active participation in international tourism exhibitions, conducting roadshows in key markets such as Australia, China, Europe, India, Japan, Korea, the Gulf and Nordic countries.

The ministry is leveraging digital channels, such as social media to enhance visibility among tourists and travel agents in target markets, while also tailoring tourism products to specific segments and market demands, as well as improving accessibility with increased flight frequencies and seating capacity.

Discussions with the Ministry of Home Affairs and the Immigration Department is on-going to streamline entry processes for foreign tourists, potentially introducing visa-on-arrival (VOA), multiple-entry visas, eVisas and transit visas.

The number of Chinese tourists visiting Malaysia more than tripled to 1.12 million from December 2023 to April 2024, compared to 332,144 tourists during the same period the previous year. Meanwhile, Indian tourist arrivals also increased by 82.3% year-on-year to 380,737 for the same period, compared to 208,907 tourists previously.

This augurs well for the hospitality, transport, retail and other related sectors. Motac seems to have got its mojo back!


Reference:

Motac: 1Q2024 tourism earnings top RM22b, tourist arrivals up 27.5%, TheEdge / CEO Morning Brief, 25 Jun 2024





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