The ringgit weakened to RM4.77 per US dollar on April 18, 2024, nearing its February 21 low of 4.8, marking its weakest position since January 1998.
This has made it challenging to promote destinations like Perth and Western Australia to business event groups in Malaysia, despite airlift having returned to pre-pandemic levels.
Alex Ng, director of business development – corporate & incentive for Business Events Perth, said: “Awareness of the destination is strong. What we need to address is the cost factor. We are collaborating with ground operators to showcase Perth and Western Australia as a value-for-money destination.”
In light of the depreciating ringgit, Ng pointed out that Business Events Perth is “engaging in discussions with corporate clients and agents to tailor offerings and provide support” to continue to attract outbound Malaysian business events.
One way to save costs, Ng suggested, was to provide delegates with more free and easy time to visit beaches and parks as these experiences are cost-free.
He remains buoyant about the sector, adding that Business Events Perth is proceeding with plans for a B2B roadshow to be held in 2H2024 in Malaysia, in collaboration with Tourism Western Australia in 2H2024.
Another way to reduce overhead costs is to explore accommodation beyond Perth’s CBD, or opt for local branded hotels, suggested Saini Vermeulen, executive director, Within Earth Holidays. Fortunately, clients are increasingly open these days.
Vermeulen further emphasised Western Australia’s allure for Malaysian groups, given the state’s easy accessibility, favourable weather conditions, diverse range of experiences, and abundant flight options from Kuala Lumpur.
