The Penang Convention & Exhibition Bureau (PCEB) today announced the outstanding achievements of the Business Events sector in the state with the launch of the Penang Business Events Annual Report 2024. The event, which took place at the iconic Hotel Marjorie, a Tribute Portfolio Hotel, was attended by YAB Chow Kon Yeow, Chief Minister of Penang, Tourism Economy Committee Member, YB Wong HonACE (Penang Creative Executive, YB Wong HonACE) and Mr Ashwin Gunasekiran, Chief Executive Officer of PCEB. They shared about the rapid development of the sector and how it continues to contribute to the state’s economic growth.
In 2024, Penang successfully hosted 2,059 business events, recording an increase of 240.9% compared to 2023. This achievement led to the attendance of 305,259 delegates, an increase of 87.3%, while 558,543 overnight stays were generated throughout the year, an increase of 3.6%. The Estimated Economic Impact (EEI) reached RM1.29 billion, an increase of 24.8% compared to last year. This achievement reflects PCEB’s commitment to promoting Penang as a premier destination for conferences, exhibitions and corporate events.
YAB Chow Kon Yeow stated that the Business Events sector is one of the key drivers of Penang’s economic growth. “With RM1.29 billion in economic impact generated, it shows how important this sector is in driving the state’s economy. Business events provide huge opportunities in the tourism, trade and investment sectors, which in turn opens up space for investment inflows and increases employment opportunities,” he said.
YB Wong Hon Wai also commended the collaboration between the public and private sectors in driving this success. “This achievement further strengthens Penang’s reputation as a premier Business Events destination in Asia. Close collaboration between the government, industry and PCEB ensured this success was achieved. We will continue to work hard to attract more high-impact events in the future,” he explained.
Mr Ashwin Gunasekiran outlined PCEB’s strategy to go further beyond the 2024 milestone. “We will continue to strengthen engagement with the industry, strengthen promotional efforts, and provide more attractive incentives to ensure continued growth in the Business Events sector. In addition, we will leverage technology and innovation to enhance the event experience and strengthen Penang’s position globally,” he said.
PCEB is committed to continuing to work with local and international stakeholders to ensure Penang remains a world-class Business Events destination. With a focus on strategic development, industry collaboration and innovation, Penang is poised to achieve greater success in 2025 and beyond.
