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In 2019, Malaysia attracted 1.2 million medical tourists, with more than half seeking treatment in Penang.The medical tourism industry generated a revenue of MYR1.7 billion.

The top Malaysian states for medical tourism are Penang and Kuala Lumpur due to its accessibility by international airlines, reasonably priced hotel rooms and excellent public transportation system. These are the factors that allow medical tourists to easily stay in a hotel or hospital in the short term.

Building on the positive momentum of Malaysia’s successful national vaccination program, the country’s GDP growth is expected to accelerate to 6.2% in 2022 from 3.8% in 2021 -according to Standard Chartered Bank’s chief economist for the Association of Southeast Asian Nations and South Asia, Edward Lee. Given that the majority of Malaysia’s population is vaccinated, Lee advised that this would facilitate a sustainable and confident economic reopening. Out of Malaysia’s 32 million population, 78% of the population is fully vaccinated.

Malaysia’s real estate market, which was downcast last year due to the disruptive impact of covid-19, is expected to see moderate growth in 2022, in line with the expected recovery of the global economy. The Malaysia government has announced its shift from classifying the covid-19 situation as being an “endemic” instead of a “pandemic” and its plans on adopting sustainable long-term policies in dealing with the virus. This will result in more consistent regulations on economic activity and bring clarity for businesses operations, improving sentiments toward financial security and consumer confidence.