/24-7PressRelease/ - NEW DELHI, INDIA, June 10, 2007 - According to a recent report “Opportunities in Malaysian Tourism Industry (2007-2009)” by RNCOS, it has been observed that Malaysian tourism industry has seen stupendous growth in terms of domestic and inbound tourism. It is anticipated that the tourist arrivals in the country will rise at a CAGR of above 6% during the period 2007 to 2011.
There is a glut of opportunities for the investors in the Malaysian tourism industry. The government is fully supporting the development of the industry and over the last 12 years, vast promotional campaigns have been designed both at local and international levels to magnetize tourists from all over the world.
The Ministry of Tourism, Malaysia, is considering organizing a regional travel fair to draw 35 Million visitors by 2010. Donald Lim, Deputy Tourism Minister, after launching of ‘The Greatest Tourism Carnival 07’, said to reporters, "Currently, we have the ICB (International Tourism Exchange of Berlin) in Germany, WCF (World Cultural Fair) in London, CITF (China International Tourism Fair) in China and ATM (Arabian Tourism Mart) in the Middle East. So, we think it is a wise decision to have such an event here”, as reported by BERNAMA.COM on April 25, 2007.
Lim reported that several countries, particularly European, have benefited from such fairs. Also, these fairs not only promote tourism but also act as a platform to exchange information and form strategic alliances with other nations.
He further said that the ministry has planned to send the proposal to local tour operators for feedback. Malaysia is now second only to China as the most favored tourist destination in Asia. In 2006, Malaysia recorded over 17 Million tourist arrivals and expects to see over 19 Million tourists this year.
According to the RNCOS report "Opportunities in Malaysian Tourism Industry (2007-2009)”, tourism is fast emerging as one of the fastest growing sectors in many countries and Malaysia is one of them. The country is putting in all its efforts to promote its tourism industry. Moreover, tourism brings in a major share of foreign exchange to the country and this makes it all the more important.
The market research report provides a rational analysis of the Malaysian tourism industry with foci on different verticals, like inbound and outbound tourism, Intra and Extra ASEAN tourism, transportation, accommodation, and medical tourism. It gives a fair picture of the opportunities, challenges, and future outlook of the market.
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