According to the Business Events industry review, a year-long data collection initiative by PCEB to document the success of Penang’s Business Events industry, launched by Chief Minister of Penang, Lim Guan Eng, who proudly announced in his speech, that PCEB and its partners have reached the RM 1 billion target for Penang’s Business Events in 2017. The overall Estimated Economy Impact (EEI) for the year was RM 1.002 billion and Penang hosted a total of 2,511 events, with 267,518 participants. This resulted to RM 1.373 million for room fees with an accumulation of 457,806 room nights. The PCEB CEO, Ashwin Gunasekeran stated that PCEB supported 94 international and national events in 2017. The review also showcases PCEB’s initiatives and achievements throughout 2017. It also contains a summary of PCEB’s activities and events organized during that year.
With the service industry being the leading contributor to Penang’s economy, the Business Events industry is a growing contributor to the economy, and is not only creating new jobs but also driving more private-sector investments into the state. This includes the Penang Waterfront Convention Centre slated to open in 2021 and nine new hotels by 2019.
The PCEB annual review gives the Business Events industry partners an insight into the segments and markets of Penang that were available, and which areas had potential for growth.
Established in 2016, Penang Convention & Exhibition Bureau (PCEB), a state bureau aimed to develop the Business Events and meetings, incentives, conventions and exhibitions (MICE) industry in Penang. PCEB’s goal is to position Penang as the preferred location for Business Events activities in the region. With its rich UNESCO heritage, thriving multicultural society, state-of-the-art facilities and vibrant natural attractions, Penang offers a truly eclectic tropical experience.
In line with its mission to incubate the growth of Business Events in Penang, PCEB serves as Penang’s focal point for the coordination of all Business Events activities, providing expert assistance to organizations and Business Events planners at every step of the planning.