KUALA LUMPUR, 11 November, 2013 – Tourism Malaysia in collaboration with UK Trade & Investment is offering British retailers an opportunity to expose about the exciting business opportunities in Malaysia, one of the fastest growing economies in the region.
Aside from the UK retail industry members, VIP GREAT Ambassadors Zandra Rhodes and Gary Rhodes will both be here to support the program. The seminar will take place at Malaysian Petroleum Club, KLCC on 12 November featuring an overview of the Malaysian market, presentations from government agencies, retail associations and guided tours to some of the premium retail malls in Klang Valley. The UK delegates will also be attending the KL Fashion Weekend and the launching of the 1Malaysia Year End Sale (1MYES), the much anticipated fashion extravaganza set to dazzle from 14 to 17 November 2013 at Esplanade KLCC.
Malaysia’s retail industry grew by 5.5 percent last year with RM87.8 billion (£16.9 billion) in sales turnover. In addition, shopping is a lucrative sector of Malaysia’s tourism industry. It holds the second biggest share of tourist expenditure after accommodation. Last year, tourists spent RM19 billion (£3.65 billion) on shopping, an increase of 5.7% compared to 2011. It constituted about 30.7% of the total tourist receipts of RM60.6 billion (£11.65 billion).
According to PPK (Association of Shopping Complex & High Rise Management), Malaysia has more than 320 shopping malls, offering more than 100 meter square feet of nett lettable area with the real estate value of RM100 billion. Malaysian retail industry grew by 5.5% in 2012 with RM87.8 billion sales turnover. Retailing in Malaysia has grown significantly over the years witnessing foreign retailers with expanded retail brands entered the country, offering a wider choice of selection to consumers in terms of brands and style.
“We are targeting to attract some 36 million tourists and RM168 billion (£32 billion) receipts by the year 2020. This can be a huge market for brands who base their operations in Malaysia, on top of the rest of the ASEAN market,” says Dato’ Mirza Mohammad Taiyab, Director General of Tourism Malaysia.
-Tourism Malaysia.
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