MALAYSIA’S Meetings, Incentives, Conferences and Exhibitions (MICE) industry is expected to draw more than 25 million visitors and generate revenue amounting to RM76.8 billion, driven by the nation’s ASEAN chairmanship this year and Visit Malaysia Year in 2026.
World Trade Centre Kuala Lumpur (WTCKL) Group Managing Director Datuk Seri Dr Irmohizam Ibrahim said both events are anticipated to significantly benefit Malaysia by accelerating a people-centric and business events-driven economic surge.
“WTCKL and other convention centres across Malaysia play a vital role in contributing directly and indirectly to the country's economic growth through three key indicators: the development of the business ecosystem, job creation, and community-based economic activity,” he said.
Speaking on Bernama TV’s Ruang Bicara programme entitled ‘Industri Konvensyen Pemacu Ekonomi Strategik’ (Convention Industry a Strategic Economic Driver) last night, Irmohizam described the business events industry as an emerging service-based economic driver that could position Malaysia as a global hub for skilled talent.
“Whenever events are held at WTCKL, for instance, economic activity flows into sectors such as e-hailing, public transport, hotel bookings, food and beverages, and local tourism,” he added.
Irmohizam noted that prior to the COVID-19 pandemic, the MICE industry contributed RM86.14 billion to Malaysia’s Gross Domestic Product (GDP) in 2019, with over 26 million international tourist arrivals recorded that year.
He also pointed to ongoing global economic shifts, particularly the US-led trade wars and tariffs, as factors that require Malaysia to strategically strengthen its business events industry within the broader economic ecosystem.
“Malaysia cannot escape the impact of these global changes and must explore how the business events industry can play a strategic role in ensuring the country remains a leading regional hub for such activities,” he said.
“This is not limited to exhibitions and conventions alone but includes events such as concerts and conferences that attract international visitors, high-profile delegates, speakers, investors and industry players to Malaysia.”
He added that business events not only enhance Malaysia’s branding on the global stage but also directly and indirectly build investor confidence in the country’s existing economic infrastructure.
As an example, Irmohizam cited the upcoming Kuala Lumpur International Book Fair, set to take place at WTCKL at the end of May, which will bring together publishers, authors and delegates from across the world.
“This event will undoubtedly help create an ecosystem that drives demand for hotel accommodation, services, transport, food and beverages, as well as tourism activities throughout Malaysia,” he said. - May 3, 2025
