Commenting on the participation, MyCEB Acting CEO Mr. Zain Azrai Rashid said that the Malaysian team appreciates the overwhelming response, a reflection of a successful show. “During the two-day event, the Malaysian delegation achieved impressive results through a promising RM570 million in estimated economic impact in the country from booth meeting quotes. This cumulative figure can be achieved based on the business opportunities of five exhibitors that are part of the Malaysia Team, including MyCEB, Business Events Sarawak, Borneo Convention and Exhibition Center, Kuala Lumpur Convention Center and the Malaysian International Trade and Exhibitions”.
Through the Malaysian involvement, the office believes that the quality leads gained from The Meetings Show 2023 have provided the impetus for a vibrant business event scene in the near future for Malaysia. It is with full confidence that the country will soon open the floodgates of delegates from various industries that will mutually benefit the clients, the business events value chain and the destination.
In the pipeline, the country will focus on welcoming incentive travelers back after the pandemic. As of today, MyCEB has 23 confirmed incentive trips to its credit, which will generate an estimated economic impact of RM124.9 million. From the inception of MyCEB in 2011 to 2019, the national office has hosted around 411,150 incentive travel participants, resulting in an estimated economic impact of around RM6.2 billion on the country's economy.
As Malaysia prepares for an imminent succession in the corporate events industry, the national office along with state offices and industry stakeholders will continue to work hand in hand and agree relationships with the Ministry of Tourism, Arts and Culture (MOTAC), the Ministry of Finance, Ministry of Economy, Ministry of Foreign Affairs, Ministry of Investment, Trade and Industry and their government agencies.
Malaysia is always ready to explore the European market and expand its presence among trade delegates. According to Mr. Zain, the mainland is attractive to Malaysia as it has a 50% market share in the global business events market and is expected to hold firm in this position until 2030. The mainland is also the market largest for international association conference participants and continues to experience market growth.
“An interesting observation is that business events are not tied to the regular tourist seasons in Europe, which makes business events more welcome during the low tourist season. With this, Malaysia will be able to take the opportunity throughout the year to showcase our destination and industry strength to deliver a memorable experience, in the best possible way,” he concluded.