KUALA LUMPUR: Special Tourism Investment Zones will be set up nationwide under a new National Tourism Policy, which will see specific incentives formulated to attract hard infrastructure and new technology-based investments in the sector.
"Moving forward, the recent evolution of the Fourth Industrial Revolution or IR4.0, which is fuelling the current trend of digitalisation, automation and artificial intelligence, (has impacted the) tourism industry.
"According to the World Economic Forum's Digital Transformation Initiatives, digitalisation in tourism is expected to contribute up to US$305 billion (RM1.28 trillion) through increased profitability by the year 2025. It will also generate benefits valued at US$700 billion for businesses and the wider society," Prime Minister Tun Dr Mahathir Mohamad said.
He said this in his keynote address at the launch of the World Tourism Conference (WTC) today.
Present was Tourism, Arts and Culture Minister Datuk Mohamaddin Ketapi and World Tourism Organisation (UNWTO) executive director Zhu Shanzhong.
The Prime Minister said technological advancement has led consumers to utilise mobile devices and online platforms to access information, arrange, book and plan entire holidays.
Data released by e-Marketer shows that by 2021, travel contracts via mobile devices worldwide will amount to US$108 trillion, he said.
Dr Mahathir added that industry stakeholders are now venturing more actively into the sharing economy, digital platforms, social media integration, as well as big data analytics to customise tourism experience offerings to specific demographics across the globe.
"As tourist arrivals are forecasted to reach 1.8 billion people in the year 2030, we can foresee a wider base of services being offered beyond the conventional tourism-focused industry. This includes medical, filming, adventure sports, content development, religious-activities, gaming, as well as green technology.
"With this in mind, Malaysia is currently making efforts to embrace the trend towards digital technology in tourism development. We are embarking on a comprehensive digitalisation journey to transform Malaysia’s tourism industry towards smart tourism initiatives.
"We believe by embracing the whole spectrum of digitalisation, we would be able to provide the necessary tools for the tourism industry to be internationally connected, perform rigorous data analytics of tourism futures and shorten the supply chain,” he said.
Dr Mahathir added that for all this to materialise, a new investment climate is pertinent for a conducive environment to enable a technology-centred tourism industry to charge forward.
“Investment in hard and soft infrastructures needs to be balanced. National policies need to allow for investment incentives in more intangible products such as data acquisition, content creation and online platform presence,” he said.
Themed 'Beyond Tourism – Beyond Expectations', the fifth edition of the WTC, which concludes this Wednesday, features a line-up of local and international speakers.
They include Helsinki's City Executive Office senior adviser Jukka Punamaki; Albanian Tourism and Environment minister Blendi Klosi; AirAsia Group chief executive officer Tan Sri Tony Fernandes; Sunway Group founder and chairman Tan Sri Jeffrey Cheah; former Tourism, Arts and Culture secretary-general Tan Sri Ong Hong Peng; and Taylor's University professor of School of Hospitality, Tourism and Culinary Arts Datuk Seri Dr Victor Wee.