GEORGE TOWN, Penang, Malaysia – Some 36 million tourists are expected to spend their vacation in the country in 2020, contributing around RM168bil to the economy, says Malaysia Tourism Promotion Board chairman Datuk Seri Dr Ng Yen Yen.
“A major portion of that revenue will come from the retail sector, as shopping is the second biggest contributor of tourist spending after accommodation, accounting for 38% of the RM60bil spent by visitors in 2012,” she said when launching the state-level 1Malaysia Year End sale yesterday.
Dr Ng said last year, Malaysia was ranked 10th in the world for the number of international tourists arrivals with 25 million visitors.
“This is remarkable compared to our population of 28 million. CNN also ranked Kuala Lumpur as the fourth best city for shopping behind New York, Tokyo and London.”