Penang hits RM1.29bil milestone in business events tourism in 2024
GEORGE TOWN: Penang has marked a significant milestone in the business events tourism sector, recording an Estimated Economic Impact (EEI) of RM1.29 billion in 2024 from hosting over 2,000 events attended by more than 300,000 delegates.
State Tourism and Creative Economy Committee chairman Wong Hon Wai attributed this achievement to the sustained efforts of the state government through the Penang Convention and Exhibition Bureau (PCEB), which has implemented a series of strategic initiatives to attract high-impact events to the state.
"Through active participation in international trade exhibitions such as IMEX Frankfurt, The Meeting Show London, and IBTM Barcelona, as well as the organisation of the Penang Roadshow to India, we have ensured Penang remains relevant and competitive in the global business events industry.
"We are also in the process of bidding for a further 27 international events through to 2030," he said during the state legislative assembly sitting today.
Wong (DAP – Paya Terubong) was responding to a question from Lee Boon Heng (PKR – Kebun Bunga) regarding the state government's efforts and accomplishments in attracting high-value, high-impact meetings, incentives, conferences, and exhibitions (MICE) to Penang.
He said that these efforts had been reinforced through the hosting of prestigious events such as the Penang International Travel Exchange (PITE) and BE @ Penang.
"These events not only expand our network with international buyers but also strengthen the capabilities of local industry players — including professional conference organisers, travel agencies, and hotel operators," he said.
Among the international events successfully secured to take place in Penang are the World Research Travel Conference 2024, the International Advertising Association World Congress 2024, and the International Conference of Butterfly Exhibitors and Suppliers 2024.
Wong added that, according to PCEB data, there had been a significant increase in business event activity since the country entered the endemic phase.
"In 2023, the EEI reached RM1.03 billion from 604 events involving 162,964 delegates, compared to RM375.91 million in 2022," he said.
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