A liberalisation policy in tourism has managed to increase Malaysia's competitiveness in the tourism industry, making it today the ninth most travelled tourist destination in the world, the World Economic Forum (WEF) on East Asia was told today.
Tourism is now the second largest foreign earner for Malaysia, contributing RM56.4 billion in revenue last year with 24.6 million tourist arrivals.
Tourism Minister Datuk Seri Dr Ng Yen Yen who presented Malaysia's direction in the industry at the forum said the liberalisation policy in tourism was in line with the world trade philosophy.
It included visa free or special visa arrangements for tourists and 100 per cent equity for investors who intended to operate three-star and four-star hotels and theme parks in Malaysia.
Highly recognised foreign tourism companies could also now open their branches in Malaysia, she said when met after the forum here Monday.
"I feel that WEF recognises Malaysia's tourism success. I am the only tourism minister invited to the forum. It is very important that we tell the world that we are a very strong tourist destination and to share with them our liberalisation policy," she said.
Malaysia is targeting that by the year 2020, tourist arrivals will reach 36 million, bringing some RM168 billion in revenue for the country. Dr Ng said participants were impressed with Malaysia's success in the tourism industry and now becoming a lead player.
Currently there are only two Asian countries in the list of top 10 most travelled tourist destinations in the world, namely China at fourth placing and Malaysia at ninth placing.
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