Malaysia launches tourism matching fund

Malaysia, 10th July: The Malaysian government announced a new RM5 million (US$1.2 million) tourism fund for private-sector tourism industry players – part of its “Visit Malaysia Year 2020” initiative which is targeting 30 million tourist arrivals next year.

The fund, a matching grant, will be offered by the Ministry of Finance and will be used as in conjunction with other promotional and marketing efforts. Companies may claim 50% of the cost of their promotional project or the maximum amount allowed for each project category. Key expense categories include: participation in travel fairs and exhibitions, organising of road shows and sales missions as well as other business events.