By Gaya Travel on November 22, 2013
KUALA LUMPUR, 17th November 2013 – YB Dato’ Seri Mohamed Nazri Bin Tan Sri Abdul Aziz, Minister of Tourism & Culture, Malaysia, launched 1Malaysia Year End Sale 2013 (1MYES2013) in great fanfare at the Esplanade, KLCC.
This year’s MYES is certainly more exciting with sale discounts ranging from 30 to 70% and other offers from more than 2,000 retail participants his year.
Tourism Malaysia’s MYES partner, MasterCard Worldwide offers shoppers great rewards when they spend at the Mid Valley, The Gardens, Pavilion KL, Fahrenheit 88, Publika, Empire Shopping Gallery, Paradigm, Queensbay Mall, Gurney Plaza, Gurney Paragon and selected merchants in Suria KLCC – Aigner, ASEANA, Cole Haan, Farah Khan, Hackett, Hugo Boss, Marks & Spencer & Tod’s.
Meanwhile, the BBKLCC Tourism Association will make our Golden Triangle come alive with grand street lighting, music, decorations, and shopping excitement at the BKLCC Parade World Fiesta!
In conjunction with the launch of the 1MYES, Tourism Malaysia has invited 221 international travel agents and media from 23 countries to Malaysia under its Mega Familiarisation Programme.
This year’s MYES showcases of British and Malaysian fashion labels during the Kuala Lumpur Fashion Weekend. Modelled after the London Fashion Weekend, this highly sophisticated event saw Karyaneka and other Malaysian labels on the same platform as popular British brands. The remarkable fashion idol Madam Zhandra Rhodes from the United Kingdom also showcased her creations during the event.
Shopping is very much part of the travel experience and is an important revenue-generating sector for the travel industry. On the international shopping scene, Brazil, Russia, India and China nationals are known to be avid shoppers, and the shopping tourism trend is being driven by their strong preference for luxury products with status symbols.
In terms of growth in outbound shopping spending, China is leading with a 15 per cent Compound Annual Growth Rate (or CAGR) forecast over the period 2012 to 2017. Asia-Pacific countries are predicted to dominate shopping tourism, with India, Vietnam and Taiwan all showing significant increases.
Shopping tourism is a booming sector of the tourism industry and Malaysia intends to tap into this potential. Malaysia is blessed with a dynamic shopping industry. We have more than 320 shopping malls, offering over 100 million square feet of net lettable area, with a real estate value in excess of RM 100 billion.
Supporting further growth of Malaysia’s shopping and tourism sectors is the fact that the Malaysian Government has made tourism – and shopping – a national economic agenda. Positioning the country as a duty-free shopping destination for tourist goods, designating KLCC- Bukit Bintang as a vibrant shopping precinct and establishing three new premium outlets in Malaysia are just some of the projects being implemented towards this end.
Arrivals during the three sales periods in 2012 have increased between 1.0 per cent and 7.6 per cent over the corresponding periods in 2011.
Tourist arrivals for 2012 reached 25.03 million with a total spending receipt of RM 60.6 billion, while shopping expenditure registered about RM 18.56 billion in 2012, an increase of 5.7% over the 2011 shopping expenditure of RM 17.5 billion. Shopping constituted about 30.7 per cent of total tourist expenditure in 2012 compared to 30 per cent in 2011.
Shopping holds the second biggest share of tourist expenditure after the accommodation sector, making it a lucrative sector of Malaysia’s tourism industry. Malaysia’s tourism industry overall is the second largest foreign exchange earner for the country.