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Bloomberg Says Malaysia Has ‘Added Appeal’ To Tourists Thanks To Weak Ringgit

Everything is cheaper for foreign tourists visiting Malaysia.

Bloomberg, a global provider of financial news and information, encouraged tourists to visit Malaysia, citing the weak Ringgit, which boosts tourists’ spending power.

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In the article, the international media noted that many Singaporeans are ‘crossing the border’ to take advantage of the ‘unprecedented strength of the Singapore dollar against the Ringgit.’

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“Travelers from further afield are increasingly exploring Malaysia’s numerous attractions.

Agency Intrepid Travel reported a 15 percent increase in bookings to the nation this year compared to the same period in 2023,” it stated.

It also mentioned the weak performance of the Ringgit against the US dollar this year, and also reaching its lowest-ever mark against the Singapore dollar.

Bloomberg comment about malaysia
Screenshot via X/Bloomberg

PM Anwar: We are not ignoring it

In response to the weak Ringgit, Prime Minister Anwar Ibrahim emphasized that the government is actively addressing the decline of the Ringgit, and he assured that the country’s investment figures are being safeguarded, underscoring that the issue is not being ignored or taken lightly.

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Read also: S$1 To RM3.54: M’sian Ringgit Hits All-Time Low Against S’pore Dollar

He further assured that measures are in place to safeguard the country’s investment figures, emphasizing that the issue is not being overlooked or treated casually.

“It is concerning. But look at the overall investments which are the biggest ever in the country’s (history), inflation continues to go down, unemployment is down and growth (is) sustained compared to our neighbours,” he reportedly said.

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