KUALA LUMPUR: Malaysia’s open-door policy has boosted the economy, with foreign residents contributing more than RM84.2bil a year, says Housing and Local Government Minister Nga Kor Ming (pic).
He said the amount includes spending by international property buyers.
“This openness has given Malaysia a competitive advantage over some countries, strengthening the nation’s position as a preferred global destination for tourism, investment, property development and higher education,” he added.
Nga said Malaysia’s tourism and international sectors recorded remarkable growth last year, reflecting the government’s success in driving sustainable economic development and enhancing global competitiveness.
“This dual success in tourism and foreign investment demonstrates that Malaysia is on the right track under the Madani government’s leadership.
“We are not only revitalising our tourism sector but also positioning the country as a global hub for education, investment and sustainable living,” he said yesterday, Bernama reported.
On the ministry’s role in supporting the government’s agenda, Nga said it would continue promoting liveable cities, affordable housing, green public spaces and climate-resilient infrastructure to support both domestic and international communities.
“With tourism thriving and global residents deepening their roots in Malaysia, the Madani government’s bold reforms and vision are delivering real results by strengthening the economy, uplifting communities and enhancing the country’s global standing.”
He added that Malaysia rose 11 places to number 23 in this year’s world competitiveness index.
He said according to the Statistics Department, the tourism industry generated RM291.9bil in 2024, contributing 15.1% to the economy, one of the best performances in the nation’s history.
“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.
“Inbound tourism alone surged by 41.1% to RM107bil, underscoring Malaysia’s enduring appeal as a favourite destination of choice for international travellers.
“Domestic tourism has also expanded by 25.1% to RM98.4bil, reflecting strong consumer confidence and the success of national initiatives to promote local attractions,” he added.
