The Penang Convention & Exhibition Bureau (PCEB) has unveiled its Business Events Penang 2024 Annual Review, showcasing a record-breaking year for the state’s business events industry, with an estimated economic impact of around RM1.3 billion.
The announcement was made at a launch event held at the Iconic Marjorie Hotel, a Tribute Portfolio Hotel, graced by the chief minister of Penang, Chow Kon Yeow; the Penang State Exco for Tourism & Creative Economy, Wong Hon Wai; and the CEO of PCEB, Ashwin Gunasekeran.
The 2024 Annual Review highlighted significant growth across key performance indicators. Penang successfully hosted 2,059 business events, a remarkable 240.9 per cent increase from the previous year. These events attracted 305,259 delegates, representing an 87.3 per cent rise, and generated 558,543 room nights, a 3.6 per cent increase. Most notably, the Estimated Economic Impact (EEI) surged to almost RM1.3 billion, marking a substantial 24.8 per cent increase compared to 2023.
Wong emphasised the importance of strategic partnerships and government support in achieving these results.
“These achievements reaffirm Penang’s reputation as a premier business events destination in Asia. As we look ahead, we will continue to strengthen our offerings, attract high-impact events, and expand our industry collaborations to further enhance Penang’s appeal,” he said.
Gunasekeran also outlined PCEB’s strategic vision for continued growth in 2025, focusing on deeper industry engagement, targeted promotional efforts, and enhanced incentives.
“Our goal is to sustain and accelerate this growth by leveraging our extensive industry network, embracing digital advancements, and continuously elevating the quality of events hosted in Penang. The rising number of business events has led to greater economic opportunities, increased employment, and a strengthened global presence for Penang,” he remarked.
