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Sarawak's Corporate Meetings and Incentives Segment to multiply economic impact of business events

Author: Theodore Koumelis / Date: Mon, 09/14/2020 - 11:26
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In 2019, Sarawak had a bidding success rate of 94% by securing 99 business events worth an estimated RM122.71 million in direct delegate expenditure.

SIBU - Minister of Tourism, Arts and Culture Sarawak and Minister of Youth and Sports Sarawak, Datuk Karim Rahman Hamzah, announced the latest business events performance figures at today’s ‘Business Events Tribal Meet @ Sibu’, with the total economic impact from Sarawak’s business events industry currently standing at RM1.6 billion from 2006 until to date.
The industry gathering, organised by Business Events Sarawak (BESarawak), highlighted the development of corporate meetings and incentives segment, described as the transformative economic impact strategy for Sarawak’s business events industry.

Today, Sarawak excels in the conventions segment. In 2019, Sarawak had a bidding success rate of 94% by securing 99 business events worth an estimated RM122.71 million in direct delegate expenditure. On the other hand, while the state has relative experience in corporate meetings and incentives segment, it will become one of the focus in 2021 with an aim to increase the market share by at least 20% over the next 5 years in line with the objectives of the Sarawak Economic Action Council (SEAC). Speaking on the corporate meetings and incentives segment development, Datuk Karim Rahman Hamzah explained that “the new development of our corporate meetings and incentives segment is to multiply the economic impact of business events” further adding that conventions currently make up 80% of the economic impact.

Planners can also utilise incentivised packages for future corporate meetings and incentives. When speaking about dealing with the repercussions of COVID-19 on this year’s business events, the Minister added that “the incentivised packages have proven to be the key solution in minimising cancellations with 95% of business events still ongoing and 3 cancelled. As for secured business events, Sarawak has bagged 88 events for the years 2020 until 2022.”

The incentives and other initiatives such as Tribe Digital Campus are the products of collaboration between BESarawak, government agencies and industry partners, emphasising the industry’s stance on tribe spirit, “This industry has shown a
tremendous sense of unity, which we know it as #TRIBESPIRIT.”
states Amelia Roziman, Acting CEO of BESarawak. “#TRIBESPIRIT is a movement showing our ownership of our value that unity is the key to plough through a phase as challenging as COVID-19 pandemic.”

Tribe Digital Campus is Sarawak’s business events industry’s first education and business exchange platform that offers its registered members complimentary and heavily sponsored classes. Registration to the campus community is complimentary
and open to all interested parties regardless of location and profession.

ABOUT THE AUTHOR

Theodore Koumelis

Co-Founder & Managing Director

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.