Sarawak Receives a Total Economic Impact of RM106 Million from Business Events

Press Room > 2020

The latest business events performance figures were officially announced by Sarawak Convention Bureau during the recent business events tribal meet in the capital city, Kuching.

It was reported that between January and September this year, Sarawak achieved an estimated of RM106 million on total economic impact.  This amount, has contributed to RM58 million in direct delegate expenditure which enabled the state, to collect tax revenue of RM6.4 million and create 8,480 jobs in various sectors.

From 2020 to 2024, Sarawak will have secured 31 business events amounting to 39,356 delegate days.  This can be attributed to the introduction of the Business Events Planners Incentivised packages.  The packages have also proved its effectiveness with business events cancellations are a low of three cancellations – leaving 95 percent of events ongoing in the business events calendar this year.

According to BESarawak’s acting chief executive officer the bureau, is 68 percent on achieving its target this year and are focusing on business events topics from seven key focus areas.

The seven key areas are urban development, social development and environmental development, reengineering economic growth, rural transformation on agriculture development, service industry and digital economy.

Sarawak also aims at increasing its market share of corporate meetings and incentives segment by at least 20 percent over the next five years in line with the objectives of the Sarawak Economic Action Council.  Currently, Sarawak’s strength lies in conventions with 80 percent of the business derived from associations.