Robust Performance By Tourism Sector
Tourist arrivals to Malaysia continue to be robust. Looking at the most recent data available from theImmigration Department, the country welcomed 15.38mn tourists over the January-August 2009 period,an increase of 4.4% year-on-year (y-o-y). August itself was a particularly strong month, with touristarrivals up by 10.4% y-o-y, at 2.03mn.
The robust performance is in stark contrast to dire prognoses of falls of 9% mentioned by the governmentat the turn of the year and shows that Malaysia has done well to withstand the lack of consumer demandfor global tourism in a difficult year. However, given the still depressed nature of global tourism demand,BMI prefers to remain cautious on the final result for 2009, predicting a 1% fall for overall arrivals.
BMI remains bullish on the long-term prognosis for Malaysian tourism, which continues to benefit fromstrong government support and a relatively secure and stable political situation. The country offers arange of options (from meetings, incentives, conventions and exhibition - MICE - travel to beachholidays) and the state is committed to supporting an industry that is a key generator of foreign exchange.
Focus On Health Tourism
In June 2009, state news agency Bernama reported that the Malaysia Tourism Promotion Board (MTPB,Tourism Malaysia) is embarking on a three-year project to collect market data on health tourism, as thecountry seeks to increase the number of people visiting the country for medical treatment. The samemonth, a report by Travel & Tourism News Middle East underlined the increasing importance the state isgiving to health tourism. The Minister of Health, Datuk Seri Liow Tiong Lai, said that health tourismgenerated about US$85mn in revenue in 2008 and treated 370,000 foreign patients. The government isexpected to draw up a legal framework to regulate the health tourism industry soon.
New CEO For Malaysia Airlines
In August Idris Jala stepped down as CEO of Malaysia Airlines (MAS) to take up a job in government asminister without portfolio. His replacement is the company’s chief financial officer Azmil Zahruddin binRaja Abdul Aziz. Jala was much respected during his time as CEO and his departure will be felt by theairline. In particular, Jala did much to turn around the fortunes of the airline in recent years via severe costcutting and aggressive sales promotions. In July, Aviation Week identified Malaysia Airlines, SingaporeAirlines and Lufthansa as the three airlines best positioned to weather the global economic situation.
Despite the challenging operating environment, MAS posted a net profit of MYR876mn in Q209, whichis its highest ever quarterly figure. For H109, net profit stood at MYR181mn. The airline attributes itsstrong performance to aggressive sales campaigns aimed at increasing load factors.
|
0 items
