Venues an Important Infrastructure Asset in the National Economic Recovery of the Country – Business Events Council Malaysia
Press Room > 2021
Press Room > 2021
Business Events Council Malaysia chairman Alan Pryor, has urged the Malaysian government to continue active engagement with the business events industry to revive the Business Events sector in the economic recovery of the country.
“As the collective voice of the Malaysia BE industry, we are actively reaching out to the government, to maintain a more consistent communication channel, to discuss how venues and the industry can help the government rehabilitate the country’s economy. 2020 was a tragic year, for the industry and it continues to be so as the industry is unable to operate in line with government restrictions. Finally with vaccines coming within reach, giving way to herd immunity, potentially allowing us to put the uncertainties behind us, the pent up demand for meetings, conferences and business events will supersede the supply,” said the chairman.
Pryor further elaborated, in a 2018 report by the Malaysia Convention and Exhibitions Bureau, the Business Events industry was expected to contribute RM3.9 billion in the incremental of Gross National Income (GNI), thus providing about 16,700 jobs, by 2020.
According to a press release by the Kuala Lumpur Convention Centre, in 2019 alone, the purpose-built venue conducted over 1,500 meetings and events welcoming over one million delegates and visitors generating, an estimated economic impact of almost RM 1 billion.
Meetings and events were allowed to operate in the country for a few short months in 2020 which saw, the development of a comprehensive new norm standard operating procedures which was, successful executed at events through strict enforcement of the health and safety guidelines with venues investing in innovation and creation to expand their product and service range to diversify business revenue. This stated in the press release, is before the nation retreated into yet another strict lockdown restricting inter-state travel and banning meetings and gatherings right into 2021 which, dampened all efforts, pushing the industry supply chain, into further dire conditions with a constant struggle for survival.
The venue sector in Malaysia provides employment by the thousands as a primary player in the supply chain. Closures of venues have impacted heavily on the rest of the supply chain, from hotels, destination management companies and tour operators to stand builders, contractors, retail, local produce suppliers and part-time employment. This has had a major ramification on the overall revenue contribution to the national economy of the country generated through the business events supply chain.