Grants to encourage private sector players to promote the destination overseas
Malaysia is planning generous budget allocations to tourism, including RM100 million (US$24 million) in matching grants to support the private sector in promotional and marketing campaigns overseas.
The country’s finance minister, Lim Guan Eng, announced plans for the grant scheme while tabling the 2019 Budget.
The scheme could help the Ministry of Tourism, Arts and Culture Malaysia to achieve its target of 30 million foreign tourist arrivals by 2020, contributing RM100 billion in tourist receipts. Last year, the tourism industry contributed 14.9 per cent of the national GDP or RM201.4 billion.
For some inbound tourism players, grants are much needed as international marketing can be a costly exercise.