Airbnb boosts Malaysia's economy with RM9.2 billion in 2024
The online platform supported four per cent of tourism-related employment, equating to one in every 26 jobs in the industry.
Airbnb-linked economic activity helped sustain around 93,600 jobs and generated RM2.1 billion in wage income.
Beyond tourism, Airbnb injected RM1.4 billion into manufacturing, RM1.2 billion into transport and storage, and RM1.2 billion into food and beverage services.
Guest spending on accommodation and other expenses reached RM11 billion in 2024.
Host earnings further boosted local economies through property maintenance, services, and personal spending.
Domestic travel rebounded strongly, with Malaysians making up 67 per cent of Airbnb guests, exceeding pre-pandemic levels.
International travellers accounted for 33 per cent of guests, more than double their 2022 share.
Over 80 per cent of international guests came from the Asia-Pacific region, highlighting its importance as a key market.
More than half of Airbnb guest spending occurred outside Kuala Lumpur and Selangor.
Non-urban areas contributed 62 per cent of Airbnb's GDP impact and supported 63,500 jobs.
Amanpreet Bajaj, Airbnb's country head for Southeast Asia and India, said the platform helps distribute economic benefits nationwide.
He added that Airbnb's role in supporting local businesses and job creation is highly rewarding. - Bernama
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
14 minutes ago
- The Star
Senegal's Foreign Minister arrives for two-day official visit
PUTRAJAYA: Senegal's Minister of African Integration and Foreign Affairs, Yassine Fall, will make a two-day official visit to Malaysia starting Monday (Aug 11) to strengthen bilateral relations. In a statement, Wisma Putra said the visit reciprocates the official visit by Foreign Minister Datuk Seri Mohamad Hasan to Senegal in May 2024. Yassine is scheduled to pay courtesy calls on Prime Minister Datuk Seri Anwar Ibrahim and Mohamad, who will also host a luncheon in her honour, the statement read. "The two Foreign Ministers are expected to take stock of progress on bilateral cooperation, with particular emphasis on enhancing collaboration in key areas such as trade and economy, education, health, the halal industry, and capacity building," it said. They are also expected to discuss and exchange views on regional and international issues of mutual interest, including developments in the Middle East and West Africa. During her visit, Fall is scheduled to meet Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani; Deputy Investment, Trade and Industry Minister Liew Chin Tong and Deputy Religious Affairs Minister Dr Zulkifli Hasan. Malaysia and Senegal established diplomatic relations in 1986 and have since maintained cordial and constructive ties through cooperation at both bilateral and multilateral platforms. The visit by Fall is anticipated to further reinforce this enduring and growing partnership. In 2024, Malaysia's total trade with Senegal reached RM1.37bil, with Malaysia's exports to Senegal valued at RM1.35bil and imports at RM14.1mil. From January to June 2025, total trade was recorded at RM789.20mil with Malaysia's exports to Senegal valued at RM781.92mil and imports at RM7.28mil. - Bernama
The Sun
14 minutes ago
- The Sun
Iran approves removal of four zeros from rial currency
TEHRAN: Iranian government spokeswoman Fatemeh Mohajerani announced the cabinet's approval to remove four zeros from the national currency, the rial. The decision was made during a cabinet meeting in Tehran, following a motion passed by the parliament's economic commission last week. Mohajerani clarified that the rial would remain the official currency, with its subdivision called the gheran. She noted that the transition would take time, with both old and new currencies circulating temporarily. Shamseddin Hosseini, head of the parliament's economic commission, earlier stated the reform aims to simplify financial transactions. Under the plan, one new rial would equal 10,000 current rials and be divided into 100 gherans. The proposal still requires approval from Iran's parliament and the Constitutional Council before implementation. Iran's currency has faced significant devaluation since the US withdrew from the 2015 nuclear deal and reimposed sanctions in 2018. The economic measures have contributed to ongoing financial instability in the country. – Bernama-Xinhua
Daily Express
44 minutes ago
- Daily Express
Ringgit strengthens against US dollar amid trade tensions
Published on: Monday, August 11, 2025 Published on: Mon, Aug 11, 2025 By: Bernama Text Size: At 8 am, the local currency rose to 4.2365/2515 against the greenback from Friday's close of 4.2420/2480. Kuala Lumpur: The ringgit opened stronger against the US dollar on Monday, recovering from two straight sessions of decline. Market analysts attributed the rebound to lingering concerns over US trade policies and their global economic impact. Advertisement At 8 am, the local currency rose to 4.2365/2515 against the greenback from Friday's close of 4.2420/2480. An analyst highlighted US President Donald Trump's proposed tariffs on semiconductors and pharmaceuticals as a key concern. 'These measures could disrupt international trade and dampen risk sentiment,' the analyst said. Investors are also monitoring tensions within the BRICS bloc and the fragile US-China trade truce. Advertisement 'Trump's unpredictable policy moves continue to fuel market volatility,' the analyst added. Bank Muamalat Malaysia's chief economist, Dr Mohd Afzanizam Abdul Rashid, expects the ringgit to trade between 4.24 and 4.25 against the dollar. Mixed signals from US Federal Reserve officials have supported the greenback, with the dollar index at 98.243 points. 'The ringgit's movement remains cautious ahead of the US CPI data release on Tuesday,' he said. July's inflation is forecast to rise to 2.8 per cent, while core inflation may hit 3.0 per cent. Malaysia's second-quarter GDP data, due this Friday, will also be a key focus. Advance estimates suggest 4.5 per cent growth, but slower industrial and services output may pose downside risks. The ringgit strengthened against major currencies at the opening. It rose against the yen to 2.8693/8796 from 2.8720/8763 on Friday. The local note also gained versus the euro at 4.9343/9517 and the pound at 5.6951/7153. Against regional peers, the ringgit climbed against the Singapore dollar, Thai baht, Indonesian rupiah, and Philippine peso. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
