Business events deliver RM1.91bil boost to Penang economy in 2025

 

GEORGE TOWN: Penang's business events sector generated an estimated RM1.91 billion in economic impact in 2025, underscoring its growing role as a key pillar of the state's tourism and services economy amid global uncertainties. 

Chief Minister Chow Kon Yeow said the strong performance reflected the sector's continued expansion, with the state hosting 3,391 business events last year, attracting more than 450,000 delegates and generating over 800,000 hotel room nights. 

"Altogether, this brought about RM1.91 billion in economic impact to our state," he said at the launch of the BE (Business Event) Associate programme here today. 

Chow said the figures went beyond statistics, translating into tangible benefits for the local economy. 

"Behind these numbers are real outcomes — more jobs, more business for local companies and more activity across the whole ecosystem, from hotels to small businesses.

"When business events grow, the economy grows together," he added.

Chow acknowledged that the global tourism sector was facing challenges, with geopolitical tensions making travellers more cautious and leading some to delay trips or opt for closer destinations. 

"This is why business events are important. People travel with a clear purpose (either) for meetings, conferences and exhibitions. 

"Many will stay a bit longer, bring their families, and spend more time here. 

"This helps sustain tourism activity during uncertain periods," he added. 

Chow also called for stronger momentum towards Visit Malaysia Year 2026, stressing the need for close coordination between federal and state authorities to maximise tourism benefits. 

"The state government will continue to do our part to promote Penang. At the same time, strong coordination, consistent promotion and timely support measures will be needed to help cushion the impact of global uncertainties," he said. 

Penang's distinctive mix of modern development and Asian heritage, along with its well-established hospitality sector, has made it a popular MICE destination. 

Chow said Penang could not afford to be complacent in talent development amid rapidly changing job demands. 

"We cannot take our time when it comes to talent development. We need to move faster. Job demands are changing quickly, and our young people must be ready to keep up," he said. 

He also encouraged a shift in mindset towards adaptability and multi-skilled learning. 

"In the past, people always said it is not good to be a 'jack of all trades'. But today, we need to look at this differently. 

"Being able to do many things, to learn new skills and to adapt, this is an advantage," he said. 

Chow said the BE Associate programme is the first of its kind in Malaysia and a timely initiative to strengthen youth readiness for industry needs.

-nst online.