Following the launch of Penang Convention & Exhibition Bureau (PCEB) at the start of last year, the Malaysian state has hosted over 1,250 business events generating over RM808 million (about US$183m), according to the bureau’s annual review.
Report overview
The research shows that the 1,251 business events that took place in Penang in 2016 drew 141,864 participants and generated a total Estimated Economic Impact of RM808,325,654.
The majority of these events were national corporate functions, totalling 771. National congresses account for 257 of the total, compared to 32 international congresses.
Some 54 incentives were held in Penang last year, generating an estimated RM31m.
In terms of the economic impact of other events, corporate events generated an estimated RM485m, and associated congresses an estimated RM292m.
“I take pride in PCEB’s continuing achievements and initiatives that continue the trajectory to bring Penang to the forefront of the BE industry,” says the bureau’s CEO Ashwin Gunasekeran (left).
Looking ahead
Business tourism is expected to contribute an estimated Gross National Index of RM3,947m and create a projected 16,720 jobs by 2020, according to Lim Guan Eng (right), chief minister of Penang.
To promote Penang as a competitive meetings destination, PCEB has launched a three-year brand campaign: Experiences Unfiltered.
“We have built the infrastructure, trained the human capital for hospitality and developed the transport plans for connectivity,” says Guan Eng. “The final piece of the jigsaw is for us to make Penang a welcoming destination for our guests.”
A new RM400m convention centre – Setia SPICE Convention Centre – is expected to open this year. Also in the works is a new RM500 million waterfront convention and exhibition centre scheduled for completion in 2021.
“These massive projects are breathtaking examples of what we are capable of,” says Guan Eng.
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