KUALA LUMPUR: Malaysia's business events industry has generated an estimated RM5.11bil in economic impact from 464 events held as of Oct 22, says Datuk Seri Tiong King Sing.
The Tourism, Arts and Culture Minister said the events attracted more than 800,000 delegates, reflecting Malaysia's growing position as an international destination for meetings, incentives, conventions and exhibitions (MICE).
"As of Oct 22, a total of 464 MICE events were successfully organised, involving more than 800,000 delegates and generating an estimated economic impact of RM5.11bil," he told the Dewan Rakyat on Thursday (Nov 5).
Lee Chuan How (PH-Ipoh Timor) had asked about the ministry's strategies to strengthen Malaysia's international MICE industry and its economic contribution to Visit Malaysia 2026-2027.
Tiong said his ministry, through the Malaysia Convention and Exhibition Bureau (MyCEB), was expanding international partnerships and promotional efforts to attract more high-value business events.
"Among the main strategies being implemented are expanding cooperation with professional associations and industry players, alongside intensifying international promotional activities," he said.
He added that MyCEB was providing financial incentives through its MyTripleE campaign to encourage more international events to be held in Malaysia.
Promotional efforts were also being expanded to Asean, China, India, Europe and North America, while Central Asia and Africa had been identified as emerging markets.
Tiong said Malaysia had also benefited from the relocation of international business events following geopolitical tensions in the Middle East.
"Through this campaign, MyCEB has successfully attracted four MICE events to Malaysia, with an estimated economic impact of RM58.27mil," he said, referring to efforts between April and December.
Looking ahead, Tiong said 44 MICE events had been identified for next year, with an estimated 69,509 delegates and a projected economic impact of RM1.03bil.
"Of these, eight events were successfully relocated to Malaysia following the geopolitical crisis in the Middle East and are expected to generate an economic impact of RM84.87mil," he said.
He added that RM10mil was allocated to MyCEB for incentives to attract high-impact international business and sporting events, particularly in the premium segment.
He said the government had also extended the 100% income tax exemption on qualifying net income for eligible international business event organisers until the 2030 assessment year.
"This extension provides long-term certainty and encouragement for organisers to continue choosing Malaysia as a destination for international business events," he said.
Tiong added that post-event tourism packages were being promoted to encourage delegates to extend their stays and increase spending, benefiting local hotels, restaurants, transport operators and tourism businesses.
