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Visa-Free Travel, Historical Low Ringgit to Help Boost Malaysia

Malaysia, a vibrant Southeast Asian nation known for its rich cultural heritage, stunning landscapes, and bustling cities, is poised for economic resurgence. According to Tradeview Capital Sdn Bhd CEO, Ng Zhu Hann, two key factors are contributing to Malaysia’s potential outperformance in the coming years: visa-free travel initiatives and the historically low value of the Malaysian ringgit.

 

 

 

 

 

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Visa-Free Travel

Unlocking new opportunities Malaysia’s recent push for visa-free travel has opened doors for international tourists, investors, and business professionals. The government’s commitment to easing travel restrictions has positioned Malaysia as an attractive destination for leisure, business, investment, and of course, gaming. Here’s why visa-free travel matters:

1. Tourism Boost: With visa-free access, travellers from around the world can explore Malaysia’s diverse offerings. From pristine beaches and lush rainforests to bustling markets and historical sites, the country promises unforgettable experiences.
2. Investment Inflow: Visa-free policies encourage foreign direct investment (FDI). Investors can now explore Malaysia’s real estate, technology, and manufacturing sectors without bureaucratic hurdles. The ease of doing business attracts capital inflows, stimulating economic growth.
3. Business Collaboration: Entrepreneurs and professionals can attend conferences, workshops, and trade events without visa hassles. Collaborations between local and international businesses thrive, fostering innovation and knowledge exchange.
4. The Ringgit’s Historical Low: While visa-free travel enhances Malaysia’s appeal, the historically low value of the Malaysian ringgit presents both challenges and opportunities.
5. Export Advantage: A weaker ringgit benefits Malaysia’s export-oriented industries. Goods and services become more competitive in global markets, driving exports. Sectors like electronics, palm oil, and textiles gain a competitive edge.
6. Import Woes: Imports, however, become costlier. The purchasing power of Malaysians declines, affecting their standard of living. Rising import prices impact essential commodities, including food and fuel.
7. Investment Attraction: Foreign investors find Malaysian assets more affordable due to the depreciated ringgit. Real estate, stocks, and bonds become attractive investment options. Tradeview Capital predicts increased interest from global investors.

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ALSO READ: Live Poker Rooms In Malaysia

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Tradeview Capital’s Outlook

Tradeview Capital, a leading financial advisory firm, remains optimistic about Malaysia’s prospects. Tradeview emphasises the need for prudent policies to balance the ringgit’s depreciation while leveraging its export potential. He advises diversification, emphasising sectors like technology, renewable energy, and healthcare.

How will casinos benefit?

The above factors will lead to more visitors in Malaysia, and thus more business to the country’s only casino, Resorts World Genting (RWG). “Malaysia’s casino has missed visits by Chinese visitors since COVID-19. But with this visa-free entry and Malaysia having a huge number of tourists arriving from China during the past Chinese New Year, I think revenue is expected to be very good, and there will be improvement in the coming quarters,” said Hann.

As per estimates, the footfall at RWG is expected to reach the highs of 2019 by the second half of this year, 2024, itself. Malaysia will grant visa-free entry for up to 30 days for visitors from India and China, and that has already seen an increase in visitors since it was implemented on 1^st December 2023.

“If we are talking about building more casinos or more conventions and resorts, we must compete with places like Singapore, Thailand, etc. If we talk about natural resources and eco-tourism, I think Malaysia has a strong advantage over other countries,” added Hann. Could Malaysia have more casinos and soon become the next Taiwan or Vietnam for poker players?!

In conclusion, Malaysia’s visa-free initiatives and currency dynamics create a unique landscape. As the nation navigates economic challenges, strategic decisions will shape its trajectory. Investors, travellers, and policymakers alike are closely watching Malaysia’s journey toward prosperity. For more updates, stay tuned to GutshotMagazine.com. Follow us on Facebook, Instagram, Twitter, and Telegram.

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