Malaysia's tourism sector has been identified as one of the major contributors to the nation’s economic success. Over the years, the sector has achieved many significant milestones, at both local and international fronts. In addition to being ranked among the top 10 tourist destinations in the world, Malaysia has also been recognised as the World’s 5th Best Shopping Destination by Expedia UK 2016 and ‘Medical Travel Destination of the Year’ for the third consecutive year at the International Medical Travel Journal’s Medical Travel Awards 2017. These achievements underscore the attractiveness and capabilities of the country’s tourism sector.
The Malaysian Government will continue to propel the tourism sector to greater heights. This is in line with the government's aspiration under the Malaysia Tourism Transformation Plan which aims to attract 36 million tourists to Malaysia and generate RM168 billion for the country by the year 2020.
MIDA will continue to focus on high-yield tourism that will drive economic and employment growth for the nation. The development of hotel and tourism projects is encouraged in line with the promotion of Malaysia as an attractive tourist destination as well as a regional centre for trade and commerce. Following are the promoted activities within the tourism sector, and thus are eligible to be considered for incentives under the Promotion of Investments Act (PIA), 1986:-
Establishment of budget hotels (1 - 3 star)
Establishment of 4 - 5 star hotels (will expire on 31 December 2020)
Expansion/ modernisation/ renovation of existing hotels (1 - 5 star)
Establishment of tourist projects and theme parks
Expansion/ modernisation of tourist projects and theme parks
Establishment of recreational camps
Establishment of convention centres (with a hall of at least 3,000 seating capacity).