Malaysia's Business Events Industry Set To Grow By 8 Pct In 2025 - MACEOS

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, April 16 (Bernama) -- The business events (BE) industry in Malaysia is projected to grow by eight per cent in 2025, according to the Malaysian Association of Convention and Exhibition Organisers and Suppliers (MACEOS).

Its president, Datuk M. Gandhi said that despite the ongoing tariff war affecting the global market, Malaysia has positioned itself as a neutral state, making it an attractive destination for business events, conferences, and exhibitions.

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“Even during this trade war, businesses must continue their operations. With the Washington tariffs in place, trade shows are becoming increasingly significant, as companies require these platforms to showcase their products and explore new markets,” he told Bernama after a press conference here today.

Gandhi also pointed out that the current global economic shifts require businesses to constantly adapt, leading to a greater reliance on business events to rebuild supply chains, explore new locations for factories, and more.

He said that the economic impact of the BE industry in Malaysia is valued at RM18 billion, bolstered by factors such as the country’s visa-free status, easy access, and high-quality accommodation and hospitality services.

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“Malaysia’s rich cultural diversity is also considered a key factor contributing to its status as a preferred destination for international business events,” he said.

Gandhi also said that Malaysia’s business events sector has a significant advantage in attracting numerous visitors and businesses to organise conferences and events.

He said that besides Kuala Lumpur, which serves as the capital city, states such as Penang, Johor, Sabah, and Sarawak are also strategic locations for entrepreneurs due to their proximity to neighbouring countries like Indonesia, Singapore, Thailand, and Brunei. 

Future Industry Challenges in Malaysia

Gandhi warned that Malaysia faces challenges in further developing its industry due to limited venue capacities.

Despite the rising demand for business events, the venues in Malaysia are reaching their capacity limits, he said.

“For instance, major events like the Malaysia International Furniture Fair (MIFF) and the Malaysia International Halal Showcase have grown so rapidly in Malaysia that they are now outgrowing the available venue sizes.

“As a result, they cannot expand further, even if more companies want to participate," Gandhi said.

At present, the largest venue available in Malaysia is the Malaysia International Trade and Exhibition Centre, which offers approximately 484,375 square feet (sq ft) of space. 

Events requiring more space will be constrained by the lack of available venues. This situation may prompt businesses to consider holding events in neighbouring countries such as Thailand, where the gross space for venues is approximately 1,506,946 sq ft, compared to Malaysia's 484,375 sq ft.

Gandhi emphasised that to stay competitive, Malaysia should focus on increasing the availability of larger venue spaces.

By 2028, countries like Vietnam aim to offer 968,751 sq ft of venue space, while the Philippines intends to provide 1,291,668 sq ft.

-- BERNAMA