PUTRAJAYA: While other nations adopted restrictive policies, Malaysia’s open-door approach has propelled the country to one of its strongest economic performances in history, with the tourism sector generating a record RM291.9 billion in 2024.
Housing and Local Government Minister Nga Kor Ming said the industry contributed 15.1% to the national economy, underscoring the Madani government’s success in driving sustainable growth under the leadership of Prime Minister Datuk Seri Anwar Ibrahim.
Citing Statistics Department data, Nga said the rebound from the pandemic was clear, with shopping, hotels, food and beverage, and lifestyle services accounting for more than 82% of the sector’s revenue.
“Inbound tourism surged 41.1% to RM107 billion, reflecting Malaysia’s enduring appeal to international travellers, while domestic tourism expanded 25.1% to RM98.4 billion on the back of strong consumer confidence and national initiatives to promote local attractions. Tourism’s performance marks one of the strongest in history and reflects a solid rebound from the pandemic years,” he said in a statement.
Nga added that Malaysia’s open and welcoming policies have also attracted foreign residents, contributing RM84.2 billion annually through international property buyers, expatriates, Malaysia My Second Home visa holders and about 200,000 foreign students.
“This dual success in tourism and foreign investment shows Malaysia is on the right track. We are not only revitalising tourism but also positioning the country as a global hub for education, investment and sustainable living,” he said.
He stressed that Malaysia’s openness has become a competitive advantage, setting the country apart from others with stricter entry and residency rules. He added that the ministry would continue promoting liveable cities, affordable housing, green public spaces and climate-resilient infrastructure to support both Malaysians and international residents.
“With tourism thriving and global residents deepening their roots here, the Madani government’s bold reforms are delivering real results, strengthening the economy, uplifting communities and enhancing Malaysia’s global standing,” Nga said.
He highlighted Malaysia’s leap of 11 places to 23rd in this year’s World Competitiveness Index as proof that government policies are bearing fruit.