THE state government, through the Penang Convention and Exhibition Bureau (PCEB), successfully hosted a record-breaking 2,059 events last year, achieving a staggering RM1.29 billion in estimated economic impact (EEI).
Chief Minister Chow Kon Yeow announced this during the PCEB Business Events Penang 2024 Annual Review launch at the Iconic Marjorie Hotel in Bayan Lepas this evening.
According to Chow, the Meetings, Incentives, Conferences, and Exhibitions (MICE) industry holds a huge potential to contribute significantly to the economic growth of the state and nation.
“In 2024, Penang hosted a total of 2,059 business events, welcoming 305,259 delegates and generating 558,543 room nights.
“The EEI reached an impressive RM1.29 billion, marking a significant contribution to our local economy.
“Compared to 2023, these figures reflect remarkable growth—a 240.9% increase in events, an 87.3% rise in delegate numbers, a 3.6% increase in room nights, and a 24.8% boost in economic impact.
“This surge is a testament to the collaborative efforts of all stakeholders, including government agencies, industry partners, and the dedicated team at PCEB,” Chow said.
He also emphasised the state government’s commitment to fostering a favourable macroeconomic environment for business events, aiming to enhance the overall travel experience.
“2024 was a landmark year as we welcomed the International Advertising Association (IAA) World Congress to Penang, the first time this prestigious event was held in Southeast Asia.
“Additionally, we celebrated the 50th anniversary of diplomatic relations between China and Malaysia by hosting the World Research Travel Conference 2024.
“These events have elevated Penang’s global profile and showcased our capabilities in hosting large-scale international conferences.
“The success of such high-profile events is underpinned by robust infrastructure and strategic planning in the state,” said Chow.
Chow also provided an update on several key projects that will elevate Penang’s status as a world-class business events hub.
He mentioned that the Penang Waterfront Convention Centre (PWCC) is nearing completion and is poised to become a game-changer for business events industry in the state.
“With a column-free space capable of hosting up to 8,000 guests in a theatre arrangement, PWCC will be the largest convention centre in Penang, setting new standards for event hosting in the region.
“Adjacent to PWCC, The Light City development is taking shape, featuring The Waterfront Shoppes retail mall, a hotel, and an office tower.
“Notably, this development will introduce two esteemed international hotels: the five-star JdV by Hyatt, marking its debut in Malaysia with 156 rooms, and the four-star Galaxy Minyoun Penang The Light City Hotel, offering 303 rooms in its first venture into Southeast Asia.
“Beyond The Light City, Penang continues to see growth in new international hotel brands, further strengthening our hospitality landscape to cater to business and leisure travellers alike.
“We are confident that these additions will enhance Penang’s position as a top-tier business events destination, providing more accommodation options and world-class hospitality for international delegates and visitors,” he added.
Meanwhile, Penang Tourism and Creative Economy Committee chairman Wong Hon Wai, who was also present, emphasised the role of strategic partnerships and government support in facilitating this remarkable progress.
“These achievements reaffirm Penang’s reputation as a premier business events destination in Asia.
“As we look ahead, we will continue to strengthen our offerings, attract high-impact events, and expand our industry collaborations to further enhance Penang’s appeal,” he said.
PCEB chief executive officer Ashwin Gunasekeran also outlined PCEB’s vision to exceed the 2024 benchmarks by focusing on deeper industry engagement, targeted promotional efforts, and enhanced incentives.
Story by Riadz Akmal
Pix by Muhamad Amir Irsyad Omar
Video by Siti Nuratikah Rahmat