RM2.23 billion is lots of money. Welcoming more tourists.

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I am currently on a vacation in Phuket and will be driving to Krabi in a few days time. On a daily basis, I think I am spending RM800 for a family of 4 (including hotel, car, food). I could see tourists everywhere and I think this is one reason Phuket island is full of accommodation and tourist attractions. The higher the demand, the more attractions will appear so that tourists have more to do. This is why Malaysia needs to focus on tourism because it is an income generator and gives a huge multiplier effect to many other industries within the economy. The state of Sabah received over 1 million tourists within the first three months of 2019.

Article in propertyhunter.com.my Sabah’s Deputy Chief Minister Datuk Christina Liew shared that 1,033,871 tourists visited Sabah in the first three months of this year. She said that the number has shown an increase of 9.1% compared to the same period last year. She said, “The influx of tourists is estimated to have generated RM2.23 billion in revenue for Sabah.” The target for Sabah for 2019 is 4 million tourists and Liew said that this should be achieved with promotional efforts by her ministry and other initiatives. Sabah Tourism Board will also continue to promote tourism in the east coast of Sabah especially towns of Tawau, Semporana, Lahad Datu and Sandakan. She said, “The east coast of Sabah, especially the towns of Tawau, Semporna, Lahad Datu and Sandakan have many nature-based tourism attractions besides historical heritage.” Article in propertyhunter.com.my

Anyway, RM2.23 billion divided by 1 million tourists is RM2,157 per tourist. This is indeed good money yeah. In 2018, Malaysia welcomed nearly 26 million tourists. This is more than 2.1 million tourists per month. This is the reason why international airports in KL, Penang, Kota Kinabalu are all hitting capacity and all are having plans to keep expanding. By the way, this is also one major reason why AirBnB in Malaysia recorded such a huge growth in numbers. Earlier article here: AirBnB in Malaysia fastest growing in ASEAN So, if we intend to go into property investment with an eye on tourist accommodation, I think it will be a safe bet for a long time to come. Happy understanding.

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<Featured Image is courtesy of Stock Photos from Atstock Productions>

Article written and edited by Charles. News article summarised by Dina Batrisyia.

Next suggested article: Tourism is definitely the right focus

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