KUALA LUMPUR: Malaysia's open-door policy has also brought tremendous gains, with foreign residents contributing over RM84.2bil annually to the local economy, says the Housing and Local Government Minister.
Nga Kor Ming said that international property buyers, expatriates, Malaysia My Second Home (MM2H) visa holders and nearly 200,000 foreign students now form a growing community that fuels investment, creates jobs and supports inclusive growth.
"This dual success in tourism and foreign investment demonstrates that Malaysia is on the right track," he said in a statement on Saturday (Sept 13).
"We are not only revitalising our tourism sector but also positioning the country as a global hub for education, investment and sustainable living."
He added that the country's openness stands in sharp contrast to restrictive policies in certain countries, which has now become Malaysia’s competitive advantage.
"By maintaining a warm, welcoming environment, the nation has strengthened its position as a preferred global destination for tourism, investment, property development and higher education."
He also said that Malaysia’s tourism industry has staged one of the best performances in history.
This reflects the Madani government’s steady leadership in driving sustainable economic growth.
"According to the Statistics Malaysia Department, the tourism industry generated RM291.9bil in 2024, contributing 15.1% to the national economy, thus recording one of the best performances in history," he said.
"This marks a strong rebound from the pandemic years, with shopping, hotels, food and beverage, and other lifestyle services collectively accounting for over 82% of sector performance," he said.
He added that inbound tourism alone surged by 41.1% to RM107bil.
This underscores Malaysia’s enduring appeal as a favourite destination for international travellers.
Whereas domestic tourism also expanded by 25.1% to RM98.4bil, reflecting strong consumer confidence and the success of national initiatives to promote local attractions.
"The Ministry will continue to play its role in promoting livable cities, affordable housing, green public spaces and climate-resilient infrastructure that supports both domestic and international communities who see Malaysia as their home," he said.
