Reinvesting in heritage, urban renewal can bolster tourism: Think City

GEORGE TOWN – Think City, an urban rejuvenation entity under Khazanah Nasional Bhd, is proposing that the government allocate funds for investment in heritage conservation and urban renewal projects as a way to spur the tourism industry.

Its CEO Hamdan Abdul Majeed said it is important to recognise that the industry’s revival in the wake of the pandemic-related lockdowns would contribute significantly towards improving the battered economy.

“There is value in investing in private sectors that utilise historical and urban landscapes and assets.

“We have seen and experienced the economic boost from this sector for the past decade,” he said in an interview with The Vibes.

On Monday, Tourism, Arts and Culture Minister Datuk Seri Nancy Shukri hailed as good news the prime minister’s announcement allowing interstate travel, saying it has been long awaited to revive the local tourism, arts, and culture sector.

Interstate travel for tourism activities, however, is subject to individuals having completed their Covid-19 vaccination. 

Hamdan said that new types of employment and businesses have grown due to tourists consuming the various products and services.

Though he is optimistic that financial aid will be allocated for heritage conservation and urban renewal projects, he noted that this will only become clear during the Budget 2022 announcement as “no promises have been made”.

Having shared this with Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz during the latter’s visit to Penang last weekend, he is optimistic that the sector will get the attention of the government.

“We currently don’t have all the resources, and that is why it is important that they (federal government) recognise the value of this sector and its contribution to the society,” he said.

The reopening of tourism has given hope to businesses that have been forced into slumber due to the long-drawn pandemic.

However, as some sites were permanently closed or unable to return to business because of financial constraints, Hamdan feels that support through funding would help in this regard by reinvigorating heritage assets and rejuvenating the urban areas.

He said tourists travelling after the pandemic will look for deeper and more immersive experiences. 

“Gone are the days when they would pop in for a night or two before going off to another location, because of the difficulty of travelling, which involves being quarantined,” he said.

“Expect tourists to stay longer to have a deeper experience of the place.”

Hamdan said tourism players should look at more value-added products that see visitors benefit from relaxing and recuperating while taking part in exploring historical and natural elements of an area.

“I believe that all the proprietors and entrepreneurs at tourist sites will return to revive and revitalise the areas as there will be positive returns. They are not taking a blind risk as they have seen the realised potential before.

“As we wait for everything to recover, we should use this time to strengthen our products and create better offerings,” he said. – The Vibes, October 16, 2021