Rebuilding Malaysian Tourism Industry Post-Covid-19 Pandemic and the Revival Strategies

Azizah Musa (), Zuhairah Ariff Abd Ghadas, Suhaila Abdul Kadir, Adi Aizat Yajid, Eni Noreni Mohamad Zain and Azlinda Shazneem Md Shuaib
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Azizah Musa: University Malaysia Kelantan
Zuhairah Ariff Abd Ghadas: University Sultan Zainal Abidin
Suhaila Abdul Kadir: University Malaysia Kelantan
Adi Aizat Yajid: University Malaysia Kelantan
Eni Noreni Mohamad Zain: University Malaysia Kelantan
Azlinda Shazneem Md Shuaib: University Malaysia Kelantan

A chapter in Board Diversity and Corporate Governance, 2024, pp 57-67 from Springer

Abstract: Abstract The new economy, driven by digital technologies, could help developing countries diversify output and foster economic growth. Building capacity for digital development enhances the country capabilities to promote innovation, create knowledge and disseminate information. Digital networks is hence needed to increase communication as well as allow people, regions and nations to collaborate and share information aiming at fostering growth and sustaining development. For developing countries, external knowledge enhances the economy readiness to diversify output, create employment opportunities and improve global competitiveness. The sudden outbreak of Covid-19 flounced through like a windstorm, giving rise to a layer of panic to the whole world including Malaysia. The disease spread worldwide just in weeks, and as of today, there is an endless statistic of cases and death rates due to this pandemic. A brutal decimation in the tourism-related industry is unavoidable in the wake of unfathomable carnage of this pandemic. Hoteliers and travel agents are the hardest hit and most severely impacted by the transmission of the virus and restrictions in movement orders worldwide. As a result, data from around the world revealed a 95% drop in foreign visitors from the year before the outbreak. The greatest overall loss continues to be felt in Asia and the Pacific. In Malaysia, the cancellation of hotel room bookings as of March 16, 2020, alone was amounting to 170,085 room nights, valued at RM68 million. Therefore, taking into account the sector’s crucial role, this research seeks to examine the effects of this pandemic on the tourism industry and offer some potential survival strategies in facing the crisis with a special reference to Malaysia as a developing country but with renowned tourism branding. This research employs a combination of doctrinal and statutory analyses. The originality of this research is primarily towards its statutory analysis of both primary and secondary sources of material, including legislation and rules, government policy and news. The practical implications of this research extend to near-future development policy, particularly on the need to reshape the Malaysian tourism industry as a significant economic contributor for the nation. It may give an idea to rebuild the country as to adapt with the new norms without compromising people’s health.

Keywords: Global pandemic; Effects; Malaysia; Revival strategy; Tourism industry (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-031-53877-3_5

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DOI: 10.1007/978-3-031-53877-3_5

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