Kuala lumpur: Malaysia's business events industry is projected to generate a cumulative economic impact of RM34.97 billion by 2030, driven by ongoing and strategic initiatives, said Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing. He highlighted that as of June 30, 2026, the Malaysia Convention and Exhibition Bureau (MyCEB) had secured 416 business events to be held between 2026 and 2030, with a projected estimated economic impact (EEI) of RM8.27 billion.
According to BERNAMA News Agency, in the first half of 2026, MyCEB spearheaded 194 business events nationwide, attracting over 341,000 delegates and generating an EEI of RM1.81 billion. For the second half of 2026, MyCEB is targeting a total of 493,519 business delegates, with an expected EEI from business events amounting to RM2.63 billion. Tiong remarked during the Malaysia Business Events Week (MBEW) 2026, organized by MyCEB, that these results demonstrate the global event organizers' growing and continuous confidence in Malaysia.
Tiong further elaborated that business events have become a platform that drives investment, fosters innovation, and creates opportunities for local businesses and communities. Since its establishment in 2009, MyCEB has secured 3,575 business events, welcomed over 4.5 million delegates, and generated RM26.7 billion in economic impact for Malaysia. Tiong emphasized the importance of embracing innovation, sustainability, digital transformation, and talent development to keep Malaysia's business events globally competitive.
In light of geopolitical uncertainty in West Asia, Ministry of Tourism, Arts and Culture (MOTAC) secretary-general Datuk Shaharuddin Abu Sohot stated that Malaysia is encouraging international event organizers to relocate their programs to the country. He cited hosting the Formula One (F1) race at the Sepang International Circuit as beneficial to Malaysia's tourism sector, as participants and visitors typically arrive in the country more than a week in advance, stimulating the tourism industry. Additional events, including concerts by local and international artists, are being planned to attract tourists, particularly those attending the F1 race.
Meanwhile, MyCEB chairman Dr. Sivakumar Varatharaju Naidu underscored the importance of close collaboration among governments, industry players, and associations to build a resilient and innovative business events ecosystem. He likened the industry's future to a tapestry, where each stakeholder brings unique perspectives and experiences, creating an industry better prepared to seize future opportunities.