Riding on the success of its conventions business, Sarawak is setting its sight on the corporate meetings and incentives segment starting next year.
In an announcement made by Minister of Tourism, Arts and Culture Sarawak and Minister of Youth and Sports Sarawak, Datuk Karim Rahman Hamzah at ‘Business Events Tribal Meet @ Sibu’ on September 10, Sarawak’s business events industry has contributed RM1.6 billion (USD387.4 million) to the economy since 2006.
The industry gathering, organised by Business Events Sarawak (BESarawak), highlighted the development of corporate meetings and incentives segment, which was 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 per cent by securing 99 business events worth an estimated RM122.71 million in direct delegate expenditure.
While the state has relative experience in corporate meetings and incentives segment, it will become one of the focus in 2021 to increase the market share by at least 20 per cent over the next five years in line with the objectives of the Sarawak Economic Action Council (SEAC).
“The new development of our corporate meetings and incentives segment is to multiply the economic impact of business events,” said Datuk Karim Rahman Hamzah.
Conventions currently make up 80 per cent of the state’s business events economic impact.
Event planners can utilise incentivised packages for future corporate meetings and incentives. When addressing the repercussions of COVID-19 on this year’s business events, the minister added, “The incentivised packages have proven to be the key solution in minimising cancellations, with 95 per cent of business events still ongoing and three 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,” said 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.”
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.