The Long Game
Tatler Malaysia|June 2021
As international borders remain blurred, the local hospitality industry faces its biggest challenge yet as Malaysia hit its third nationwide lockdown in May; but can there be a turnaround after all for consumer-conscious hoteliers with greener investments?
Koyyi Chin

Last December, a News Straits Times article reported that the nation’s tourism sector had suffered losses estimated up to RM100 billion, with tourist receipts (both international and local) taking a steep nosedive from an approximate of RM86.14 billion to RM12.68 billion. A devastating domino effect, what once was considered as Malaysia’s third highest gross domestic product (GDP) with a total labour force of 23.6 per cent—3.6 million people, to be exact—has been relegated to rank fourth, due to its declining contributions toward Malaysia’s foreign exchange earnings as many sub-sections in the business, namely the service as well as the F&B industry, have been affected by the blanket dine-in and interstate travel ban.

It’s no news that Malaysia’s economy is worse for wear since the 1997 Asian financial crisis as the nation’s GDP has shrunk by 5.6 per cent, which led to the shutdown of many players in the industry; in November 2020, it was reported on The Asean Post that a total of 204 tourism and hotel operators have shut down since the onset of the first MCO. According to Nancy Shukri, the minister of Malaysia’s Tourism, Arts and Culture organisation, she’s observed that “32 out of 109 entities from the hotel sector and 38 out of 95 tourism agencies were ordered to close by the courts or they closed voluntarily”, and as of May 2020, the unemployment rate of the industry’s workforce came up to 12,000 people. And in another article based on the statistics given by the Langkawi Development Authority, the popular tourist destination had only seen half of its usual crowd, from almost four million visitors annually to a startling new low at 1,281,107 by the end of 2020.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM TATLER MALAYSIAView All

Environmental Essentials

With sustainability built into infrastructure, we can afford a greener way of life that is practical and effortless

2 mins read
Tatler Malaysia
December 2021

Can Clean Energy Save Us from Climate Change?

Three clean energy leaders weigh in on the state of the environment and what can we do to save the planet

7 mins read
Tatler Malaysia
December 2021

A City on the Merge

Discover why integrated developments are becoming popular because of the absolute convenience they offer

2 mins read
Tatler Malaysia
December 2021

Reset and Recharge

Discover One&Only Desaru Coast’s all-round wellness retreats with Tatler friends Datin Wira Sabrena Dani and Datin Dian Lee

3 mins read
Tatler Malaysia
December 2021

IN THE NAME OF GIVING BACK

Just like she was given the opportunity to realise her potential so many years ago, Datuk Nicol David now casts her eye to nurturing the next generation of budding talents

9 mins read
Tatler Malaysia
December 2021

An Enchanting Holiday

As Sabah welcomes interstate travellers once more, there’s something for everyone to enjoy a true Sabahan experience

3 mins read
Tatler Malaysia
December 2021

Retirement Nixed

Nyx founder Toni Ko talks to Doris Lam about her latest venture

2 mins read
Tatler Malaysia
December 2021

Taking It in His Stride

Kevin Wu loves a good challenge; he manages not one but three businesses. We learn how he splits his time being a lawyer, furniture retailer and cricket farmer

5 mins read
Tatler Malaysia
December 2021

The Hybrid Office 101

The next normal will require some changes in the work structure as well as in employeremployee relationship. Here are a few must-do’s

3 mins read
Tatler Malaysia
December 2021

The Power of Holistic Living

Can a place make you healthier? Having the correct infrastructure can help you lead a well-rounded life

2 mins read
Tatler Malaysia
December 2021
RELATED STORIES

The New Fighter At the CFPB

Rohit Chopra wants to know more about tech companies’ plans for financial products

5 mins read
Bloomberg Businessweek
December 06, 2021

Next on Your Plate: Bug Burgers

The faux-meat industry is starting to explore fruit fly patties and mealworm nuggets

4 mins read
Bloomberg Businessweek
December 06, 2021

Ready Aim Omicron!

Drugmakers always knew variants would arise. The latest will test their preparedness

5 mins read
Bloomberg Businessweek
December 06, 2021

Crossing Borders With Crypto

A Mexico-based startup says it can send remittances from the U.S. cheaper and faster

5 mins read
Bloomberg Businessweek
December 06, 2021

A Crash Course in Omicronomics

Sussing out the impact of the new coronavirus variant on growth and inflation

4 mins read
Bloomberg Businessweek
December 06, 2021

Treasure Hunters Of the Stalled Supply Chain

For salvage companies, an unclaimed shipping container is a potentially profitable mystery box

6 mins read
Bloomberg Businessweek
December 06, 2021

In the EV Age, Hyundai Still Has High Hopes for Hydrogen Cars

The South Korean automaker sees fuel-cell technology as key to decarbonizing global transportation

4 mins read
Bloomberg Businessweek
December 06, 2021

The Next Accounting Fiasco

Twenty years after Enron’s failure, investors are still vulnerable to corporate numbers games

5 mins read
Bloomberg Businessweek
December 06, 2021

When Same-Day Delivery Is Too Slow

Gopuffis trying to outrace its competitors in the “dark convenience store” business

6 mins read
Bloomberg Businessweek
December 06, 2021

Health The growing influence of Apple on healthcare

In a 2019 interview with Mad Money’s Jim Cramer, Apple CEO Tim Cook said: “If you zoomed out into the future, and you look back, and you ask the question, ‘What was Apple’s greatest contribution to mankind?’” After a short pause, he answered his own question: “It will be about health.” Two years on, his vision is already becoming a reality for the company.

5 mins read
AppleMagazine
December 03, 2021