KUALA LUMPUR: Since its inception in 2002, the Malaysia My Second Home (MM2H) programme has approved the applications of 33,300 people from 126 countries.
Tourism and Culture Minister Datuk Seri Nazri Aziz said MM2H has clearly been well received.
He said the encouraging response is spurred by various global indexes, including the International Living 26th Annual Global Retirement Index, which ranks Malaysia as the sixth best retirement destination in the world for 2017.
"China remains the top participating country, with almost 8,714 approved participants, followed by Japan with 4,225; Bangladesh (3,546); the United Kingdom (2,412); lran (1,336); Singapore (1,295); Taiwan (1,208); South Korea (1,266); Pakistan (973); and lndia (890)," he said at the MM2H National Workshop today.
Nazri said tangible benefits and revenue contributed to the local economy by MM2H participants amount to RM12.8 billion to date.
"Visa fee collection (including multiple entry, social pass and journey performance visa where applicable) amounts to RM52 million. The yearly collection target is RM7.5 million.
"Fixed deposits amount to RM4.9 billion; the purchase of automobiles amount to RM148 million; while the purchase of property amounts to RM4.9 billion.
"Estimated monthly out-of-pocket expenses amount to RM10,000. This does not even take into consideration the spill-over effect of the participants’ relatives and friends visiting Malaysia and spending on accommodation, food, travel and shopping,” Nazri added.