Penang’s events sector generated a RM1.29 billion economic impact in 2024, according to the Penang Convention & Exhibition Bureau (PCEB). Photo Credit: Adobe Stock/Kann
It was a stellar year for Penang’s business events sector in 2024. According to the Business Events Penang 2024 Annual Review by the Penang Convention & Exhibition Bureau (PCEB), the state recorded 2,059 business events – a 240.9% increase from the previous year. This surge brought in 305,259 delegates (up 87.3%) and 558,543 total room nights (+3.6%), underscoring Penang’s rising global appeal.
Last year saw Penang host several high-profile international conferences, including the International Advertising Association World Congress and the World Research Travel Conference 2024. These events were supported by the development of key infrastructure projects, including the Mutiara Line Light Rail Transit and the Penang Waterfront Convention Centre.
The economic impact of these business events reached RM1.29 billion, reflecting a 24.8% increase from 2023. Additionally, the expansion of 12 new international direct flights has positioned Penang International Airport as Malaysia’s second-busiest, reinforcing the city’s connectivity and accessibility.
The latest figures were revealed by PCEB during its Business Events Penang 2024 Annual Review. The launch event, held at the Iconic Marjorie Hotel, was attended by key figures including the Chief Minister of Penang, YAB Chow Kon Yeow, the Penang State Exco for Tourism & Creative Economy, YB Wong Hon Wai and the CEO of PCEB, Ashwin Gunasekeran.
YB Wong Hon Wai highlighted the role of strategic partnerships and government support in achieving these results, stating, “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.”
PCEB has actively participated in international trade shows and roadshows, enhancing its global presence. These efforts have been recognised with multiple awards, including the BrandLaureate Brand Leadership Award and the MACEOS Outstanding Contribution Award.