Malaysia's Business Events Industry To Generate RM34.97 Bln economic Impact By 2030
KUALA LUMPUR, Aug 4 (Bernama) -- Malaysia's business events industry is projected to generate a cumulative economic impact of RM34.97 billion by 2030, driven by ongoing and strategic initiatives, said Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing.
He said that as of June 30, 2026, the Malaysia Convention & Exhibition Bureau (MyCEB) had secured 416 business events to be held between 2026 and 2030, with a projected estimated economic impact (EEI) of RM8.27 billion.
In the first half of 2026 (1H 2026), MyCEB spearheaded 194 business events nationwide, attracting over 341,000 delegates and generating EEI of RM1.81 billion.
“For 2H 2026, MyCEB is targeting a total 493,519 business delegates with an EEI from business events amounting RM2.63 billion.
"These results show the growing and continuous confidence of global event organisers in Malaysia," he said in his opening remarks at the Malaysia Business Events Week (MBEW) 2026 organised by MyCEB here, today.
Elaborating further, Tiong said business events have become a powerful platform that drives investment, foster innovation, and create opportunities for local businesses and communities.
Since its establishment in 2009, MyCEB has secured 3,575 business events, welcomed over 4.5 million delegates, and generated RM26.7 billion in economic impact for Malaysia.
Tiong said Malaysia must continue embracing innovation, sustainability, digital transformation and talent development to ensure its business events remain globally competitive.
"We must ensure events hosted in Malaysia are not only world class but also create meaningful platforms, especially for delegates, so they can also feel the Malaysian culture and cuisine before leaving the country," Tiong said.
Meanwhile, Ministry of Tourism, Arts and Culture (MOTAC) secretary-general Datuk Shaharuddin Abu Sohot said that in light of the geopolitical uncertainty in West Asia, Malaysia is encouraging organisers of international events to relocate their programmes to the country.
"As an example, hosting the Formula One (F1) race at the Sepang International Circuit is beneficial to the country's tourism sector because participants, including race crews and visitors, typically arrive in Malaysia more than a week in advance, which would stimulate the tourism industry.
"We will also organise several events to attract tourists, particularly those coming to watch the F1 race, including activities in Kuala Lumpur and Sepang," he said.
Shaharuddin added that programmes currently being planned include concerts featuring both local and international artistes and musicians, which will be organised by the private sector.
Meanwhile, MyCEB chairman Dr Sivakumar Varatharaju Naidu said the industry's future depends on close collaboration among governments, industry players and associations to build a stronger, more resilient and innovative business events ecosystem.
"Like the threads of a tapestry, each stakeholder brings unique perspectives, capabilities, and experiences.
"When woven together with a shared purpose, they create an industry that is stronger, more resilient, innovative, and better prepared to seize the opportunities of tomorrow," Sivakumar said in his welcoming remarks at the event, themed 'Weaving Horizons: Shaping the Tapestry of Tomorrow'.
-- BERNAMA