BUSINESS travel events continue to grow in Penang post Covid –19, growing by 87.3% in terms of participants compared to 2023, recording a 240.9% rise in the number of total events organised in a year-on-year comparison.
The Penang Convention and Exhibition Bureau (PCEB) compiled the data and disclosed a staggering RM1.29 billion in estimated economic impact (EEI) was achieved from the state's tourism sector.
The EEI or spillover effects is an important indicator on what business - related travel is all about, said Chief Minister Chow Kon Yeow, who recorded his appreciation to the hard work and the positive outcomes generated by PCEB.
Chow said this during the PCEB Business Events 2024 annual review at the Marjorie Hotel.
Among those present were state executive councillor in charge of tourism, Wong Hon Wai and PCEB chief executive officer Ashwin Gunasekeran, Chief Minister Penang Incorporated general manager Datin Bharathi Suppiah, and Tourism Malaysia northern region director Abdul Hadi Che Man.
According to Chow, the Meetings, Incentives, Conferences, and Exhibitions industry holds a huge potential to contribute significantly to the economy of the state and nation.
“In 2024, Penang hosted a total of 2,059 business events, welcoming 305,259 delegates and generating 558,543 room nights. The EEI reached an impressive RM1.29 billion, marking a significant contribution to our local economy. “Compared to 2023, these figures reflect remarkable growth—a 240.9% increase in events, an 87.3% rise in delegate numbers, a 3.6% increase in room nights, and a 24.8% boost in economic impact," said Chow.
This surge is a testament to the collaborative efforts of all stakeholders, including government agencies, industry partners, and the dedicated team at PCEB.
Among the eye - opener events were the International Advertising Association (IAA) World Congress to Penang, the 50th anniversary of diplomatic relations between China and Malaysia by hosting the World Research Travel Conference 2024, and several other more events, which made the state a top destination for business travel.
“These events have elevated Penang’s global profile and showcased our capabilities in hosting large-scale international conferences. The success of such high-profile events is underpinned by robust infrastructure and strategic planning in the state,” said Chow.
The future looks even brighter with the impending completion of the largest convention centre in the region - the Penang Waterfront Convention Centre (PWCC).
Chow described the PWCC as a game changer in the industry.
“With a column-free space capable of hosting up to 8,000 guests in a theatre arrangement, PWCC will be the largest convention centre in Penang, setting new standards for event hosting in the region.
Notably, this development will introduce two international hotels: the five-star JdV by Hyatt, marking its debut in Malaysia with 156 rooms, and the four-star Galaxy Minyoun Penang the Light City Hotel, offering 303 rooms in its first venture into Southeast Asia.
Wong emphasised the role of strategic partnerships and government support in facilitating this remarkable progress.
Ashwin outlined PCEB’s vision to exceed the 2024 benchmarks by focusing on deeper industry engagement, targeted promotional efforts, and enhanced incentives.
He also mentioned that the once biggest hotel in Penang - the Equatorial Hotel with over 400 rooms and with a ballroom capacity of over 1,000, is poised to reopen after it was closed during the height of the pandemic for renovations and rebranding.
The new hotels would push the number of hotel rooms in Penang to beyond a million.
Some quarters within the hotelier circles, are however lamenting that the new hotels would drive up the actual shortage of workers in the industry, worsening it.
They also complained that the competition is heating up until some properties do not enjoy any spillover effects from the growth in tourism. - March 11, 2025.
