KUALA LUMPUR: Malaysia’s open-door policy has significantly boosted the national economy with foreign residents contributing more than RM84.2 billion annually.
Housing and Local Government Minister Nga Kor Ming stated that international property buyers form part of this substantial economic contribution.
This openness provides Malaysia with a competitive advantage over some countries and strengthens its position as a preferred global destination.
The nation has become increasingly attractive for tourism, investment, property development and higher education opportunities.
Malaysia’s tourism and international sectors recorded remarkable growth last year according to the minister.
This success reflects the MADANI Government’s achievements in driving sustainable economic development and enhancing global competitiveness.
The dual success in tourism and foreign investment demonstrates Malaysia is on the right track under current leadership.
The country is revitalising its tourism sector while positioning itself as a global hub for education, investment and sustainable living.
The Housing and Local Government Ministry will continue promoting liveable cities and affordable housing to support communities.
It will also focus on developing green public spaces and climate-resilient infrastructure for both domestic and international residents.
Tourism continues to thrive while global residents deepen their roots in Malaysia through the government’s reforms.
These efforts are delivering real results by strengthening the economy and uplifting communities across the nation.
Malaysia’s world competitiveness ranking improved by 11 places to number 23 in this year’s index.
According to the Department of Statistics Malaysia, the tourism industry generated RM291.9 billion in 2024.
This represents 15.1% of the national economy and stands as one of the best performances in the nation’s history.
The sector shows a strong rebound from pandemic years with shopping, hotels, and food services accounting for over 82% of performance.
Inbound tourism surged by 41.1% to RM107 billion, highlighting Malaysia’s enduring appeal to international travellers.
Domestic tourism expanded by 25.1% to RM98.4 billion, reflecting strong consumer confidence and successful national initiatives. – Bernama
