THE ECONOMIC impact of business events in the Malaysian state of Penang reached RM1.29 billion (about US$291m) in 2024 – a 24.8 per cent increase from the previous year, according to official estimates.
Penang Convention and Exhibition Bureau (PCEB)’s chief executive, Ashwin Gunasekeran, told the Business Events Penang 2024 Annual Review on March 10 that business events played a vital role in creating economic opportunities, employment and a global presence for Penang.
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Officials gathered at Iconic Marjorie Hotel heard an outline of plans to exceed the 2024 benchmarks through “industry engagement, promotional efforts, and enhanced incentives”.
The event was attended by Chief Minister Chow Kon Yeow, Penang State Exco for Tourism & Creative Economy Wong Hon Wai among others.
In 2024, Penang hosted 2,059 business events, representing a 240.9 per cent increase from the previous year. These events attracted 305,259 delegates, an 87.3% rise, and generated 558,543 room nights – a 3.6 per cent increase.
Wong Hon Wai said strategic partnerships and government support played a vital role in achieving these results.
