As the Malaysian Association of Convention and Exhibition Organisers and Suppliers (MACEOS) celebrates its 35th anniversary, one message rings clear: the future of business events is already here — and Malaysia must be ready to lead.
Held in conjunction with the MACEOS Aidilfitri Celebration, a special press conference was held at the World Trade Centre Kuala Lumpur (WTCKL). During the session, MACEOS President, Datuk Dr M Gandhi, provided an insightful overview of the global business events landscape — highlighting emerging opportunities, ongoing challenges, and the importance of strategic positioning amid shifting global trade dynamics.
Malaysia must act decisively to capture its share of the booming global business events market, which is projected to reach USD 2.5 trillion by 2035. With visa-free access, world-class hospitality, a strategic geographic location, and expanding regional collaborations, Malaysia is well positioned to lead.
However, timely investment in larger, world-class venues is critical to meet rising demand and to prevent high-impact events from relocating to regional competitors. By expanding infrastructure, strengthening subregional strategies, and leveraging business events as catalysts for trade, innovation, and nation-building, Malaysia can secure its place as a top-tier destination in the trillion-dollar global economy.
Malaysia is fast emerging as a key player in the global business events (BE) industry, driven by strategic investments, regional collaborations, and the rise of new destinations like Sabah. With Asia Pacific becoming the world’s fastest-growing market for business events, Malaysia is seizing the momentum through venue expansion, enhanced connectivity, and forward-thinking strategies. As demand intensifies and infrastructure is stretched, industry leaders are calling for urgent investment to position Malaysia not only as a host, but as a leader in the trillion-dollar global BE economy.
Where the World Meets Opportunity : Malaysia’s Moment in Business Events
A Fast-Growing Global Industry
The global business events (BE) industry is expanding rapidly. According to the International Congress and Convention Association (ICCA), business tourism now accounts for a quarter of all global travel, with exhibitions and conferences driving 63 percent of business-related travel. These events deliver immense economic and social value.
In 2021, the global business events market was valued at USD 736 billion. By 2035, it is projected to reach USD 2.5 trillion, with Asia Pacific emerging as one of the fastest growing regions, already contributing 23 percent to the global market. In 2024, global travel spending is estimated at USD 1.4 trillion, with business events playing a significant role in that ecosystem.
Beyond financial metrics, business events create real world impact. They serve as catalysts for economic development, cross cultural exchange, scientific innovation, and sustainable growth. For example, most international delegates had never been to Malaysia before, and they came solely for the conference. That is the transformative power of business events: they open new destinations and drive visibility, investment, and opportunity.
The Malaysia Advantage
Malaysia is well-positioned to capitalise on this global momentum. The country offers visa-free entry for many nationalities, excellent hospitality, high-value-for-money accommodation, and rich cultural diversity, all of which make it an attractive choice for international delegates.
In 2023, Malaysia hosted 104 international association conventions, ranking 33rd globally and 9th in Asia Pacific. Kuala Lumpur placed 32nd worldwide, but the growing momentum in cities like Kuching, Penang, and Kota Kinabalu shows that Malaysia’s appeal extends far beyond its capital.
New and upcoming venues are raising the bar nationwide. The newly soft-launched Penang Waterfront Convention Centre, the soon-to-open Medini International Convention City in Johor, and the magnificent Sabah International Convention Centre overlooking the stunning South China Sea, are all strengthening Malaysia’s presence in the global events landscape.
Leveraging Geography for Growth
To further amplify Malaysia’s potential and capitalise on its geographic advantage, MACEOS is advancing a Subregion Strategy. The aim is to promote Malaysia not as a single destination, but as a collection of interconnected, event-ready regions embedded in Southeast Asia’s fastest growing economic corridors.
The Subregion Strategy includes:
- BIMP-EAGA: Connecting Sabah and Sarawak with Brunei, Indonesia (Kalimantan and Sulawesi), and the Philippines. This opens access to a market of over 80 million people and positions East Malaysia as a regional gateway.
- IMS-GT (Indonesia-Malaysia-Singapore Growth Triangle): Highlighting strategic opportunities in Johor and southern Malaysia, especially with the Johor-Singapore Special Economic Zone (SEZ).
- IMT-GT (Indonesia-Malaysia-Thailand Growth Triangle): Enhancing northern cities like Penang, which are geographically closer to parts of Sumatra and southern Thailand than their own national capitals.
These regional collaborations present exciting opportunities for joint bids and shared hosting. Imagine a global congress co-hosted by Johor and Singapore. By combining resources, both destinations could double their audience reach.
Leveraging Geography for Growth
To further amplify Malaysia’s potential and capitalise on its geographic advantage, MACEOS is advancing a Subregion Strategy. The aim is to promote Malaysia not as a single destination, but as a collection of interconnected, event-ready regions embedded in Southeast Asia’s fastest growing economic corridors.
The Subregion Strategy includes:
- BIMP-EAGA: Connecting Sabah and Sarawak with Brunei, Indonesia (Kalimantan and Sulawesi), and the Philippines. This opens access to a market of over 80 million people and positions East Malaysia as a regional gateway.
- IMS-GT (Indonesia-Malaysia-Singapore Growth Triangle): Highlighting strategic opportunities in Johor and southern Malaysia, especially with the Johor-Singapore Special Economic Zone (SEZ).
- IMT-GT (Indonesia-Malaysia-Thailand Growth Triangle): Enhancing northern cities like Penang, which are geographically closer to parts of Sumatra and southern Thailand than their own national capitals.
These regional collaborations present exciting opportunities for joint bids and shared hosting. Imagine a global congress co-hosted by Johor and Singapore. By combining resources, both destinations could double their audience reach.
The Urgent Need for Infrastructure Expansion
Despite its many strengths, Malaysia faces a critical limitation: venue capacity. Flagship events such as the Malaysia International Furniture Fair (MIFF), Architecture, Interior Design & Building Exhibition – ARCHIDEX, Defence Services Asia (DSA), and Malaysia International Halal Showcase (MIHAS) are straining current infrastructure and outgrowing available spaces.
Currently, Malaysia’s largest venue, Malaysia International Trade and Exhibition Centre (MITEC), offers a maximum of 45,000 square metres. This is significantly smaller than Thailand’s leading venue, which boasts at 140,000 square metres. Meanwhile, the Philippines and Vietnam are investing in larger convention centres, with new facilities expected by 2028.
Without swift action or strategic expansion, Malaysia risks losing major events to regional competitors. One of the world’s largest beauty expos has already moved to Thailand due to space constraints. Some organisers have resorted to splitting events between multiple venues in Kuala Lumpur, such as Kuala Lumpur Convention Center, MITEC and WTCKL, but this is neither efficient nor sustainable.
This issue is part of what has been termed the “TT Impact” or Trump Tariff Impact, reflecting a shift in global trade patterns away from the US and China. Malaysia, as a neutral and strategically located hub, is well placed to benefit. But this can only happen if the country has the capacity to accommodate growing demand for business events.
A Call to Action
Invest in the Future
Just like airports, event venues require long term planning and foresight. ASEAN is moving fast. For Malaysia to stay competitive and capitalise on emerging opportunities, the expansion of event infrastructure must begin urgently. Or better yet, NOW!
In this regard, MACEOS believes business events are not just about tourism but as tools for nation building. The association represents a full ecosystem of organisers, venue operators, contractors, suppliers, service providers and more. Collectively, MACEOS members contribute RM 2.5 billion in annual revenue within a broader industry valued at RM 5 billion. These businesses also hold assets worth RM 5 billion and support thousands of jobs nationwide. In 2024 alone, business events are expected to generate RM 18 billion in economic impact. This is more than an opportunity. It is a national imperative.
Looking Ahead
Malaysia Must Lead
Business events are more than just meetings, conferences and exhibitions. They are a driving force for trade, innovation, investment, and growth. With strategic investments and regional collaboration, Malaysia can secure its place as a top tier destination in the trillion-dollar global business events economy.
With strategic investments and regional collaboration, Malaysia can secure its place as a top-tier destination in the trillion-dollar global business events economy.