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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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:
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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.
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 1st 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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