WTCKL Champions Malaysia’s MICE Sector as Key Driver of Economic Growth

KUALA LUMPUR, September 1, 2025 — The World Trade Centre Kuala Lumpur (WTCKL) has underscored the rising importance of Malaysia’s Meetings, Incentives, Conferences and Exhibitions (MICE) industry, describing it as a pivotal force in advancing the country’s development agenda while positioning Malaysia as a leading business events destination in Asia-Pacific.

According to Global Growth Insights, the global MICE industry is projected to reach US$590.67 billion by 2033, with Asia-Pacific accounting for 44% of market share. Within this, sector-specific events — particularly in IT, healthcare, and manufacturing — already make up over 73% of bookings, reflecting businesses’ increasing reliance on knowledge exchange and specialised networking platforms.

For Malaysia, the MICE sector has evolved into a service-based economic driver expected to attract 25 million visitors and generate RM76.8 billion in revenue, a contribution that sits at the heart of the nation’s ambitions for sustainable economic expansion.

Tied to National Priorities

Dato’ Sri Dr Hj. Irmohizam bin Ibrahim, Group Managing Director of WTCKL and Board Member of the World Trade Centers Association (WTCA), highlighted how Malaysia’s ASEAN chairmanship in 2025 and the upcoming Visit Malaysia Year in 2026 will boost the country’s MICE-led economic surge.

Dr Hj. Irmohizam bin Ibrahim, Group Managing Director of WTCKL

“Venues must act as connectors of innovation, not just infrastructure,” Dr Ibrahim said, noting that WTCKL aims to anchor Visit Malaysia 2026 with events focused on halal trade, the digital economy, and Islamic finance. He added that innovation now drives venue strategy, with spaces serving as both policy platforms and catalysts for sectoral transformation.

“Asia-Pacific is entering a golden phase of reinvention, where business events align with national and regional priorities,” he said.

Reflecting global industry shifts, WTCKL has prioritised technology integration, sustainability, and inclusivity. The venue continues to modernise facilities, enhance service quality, and build hybrid-ready infrastructure. Its high-speed digital backbone and hybrid conference rooms are designed to support large-scale international events catering to both physical and virtual audiences.

At the same time, WTCKL is strengthening partnerships with local MSMEs, providing them with opportunities for vendor showcases, curated business matching, and event participation. These measures extend the economic benefits of international conferences across broader communities and strengthen Malaysia’s digital event capabilities.

WTCKL’s efforts have been widely recognised. The venue recently won “Best Established MICE Venue & Special Events” at the Tourism Industry Awards 2025 and also received the Industry Outstanding Award (Service) from the Federation of Malaysian Business Associations, underlining its dual success in tourism experiences and business event excellence.

Building Global Ecosystems

Scott Wang, WTCA Vice President for Asia Pacific

The WTCA, which supports WTCKL, is addressing capacity gaps in underserved markets through initiatives such as its “Road to 500” membership expansion programme and participation in international trade platforms like the China International Fair for Trade in Services (CIFTIS). These initiatives foster B2B matchmaking, export-readiness workshops, and inbound buyer missions aimed at seeding strategic MICE ecosystems.

“A robust MICE sector, empowered by a World Trade Center business unit, elevates the reputation of a city or country as a destination for investment and tourism, while positioning it as a premier global business hub,” said Scott Wang, WTCA Vice President for Asia Pacific.

Industry stakeholders agree that Asia-Pacific’s MICE sector is undergoing a transformation, evolving from a logistics-driven business into a strategic engine of resilience, innovation, and investment promotion. With Malaysia at the helm of ASEAN and WTCKL anchoring global-scale initiatives, the country is well-placed to leverage MICE as a platform for both economic and social impact.