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In general, the hotel industry in Malaysia experienced an encouraging growth rate in 1994. The industry recorded a significant growth of 64 percent in tourism receipts, from RM5.1 billion generated in 1993 to RM8.3 billion in 1994. Malaysia will be hosting the Commonwealth Games in 1998. In addition, the new Kuala Lumpur International Airport in Sepang when completed, will cater for 25 million passengers per year and help establish Malaysia as a major centre for international air travel in the region. [Source: 1995 Annual Report of Olympia Industries Berhad]
Malaysia has been regarded as one of the world famous holiday and investment destination. The country has attracted more than six million of overseas people – holidaymakers and businessmen to Malaysia each year. The Government of Malaysia has been promoting Malaysia tourism agressively both locally and overseas. The country is blessed with numerous holiday sites and business centres.
The colourful multi-ethnic group practising multi-culturalism in Malaysia has attracted million of foreign visitor to the country. The people, the food and the customs have impressed many foreign visitors. The country is continuously improving its basic infrastructure such as telecommunication, transportation, and public facilities in order to attract more foreign visitors.
As a result of the impressive economic growth, one cannot stop being amazed by the amount of land-related development projects which are going on in Malaysia presently. More hotels, resorts and business centres have sprouted everywhere. Light Rail Transit project has been constructed and near completion. All these development attempts to set Malaysia as a centre for holidaymakers and foreign investors.
Hotel industry in Malaysia has contributed tremendously to the development in the Malaysia tourism industry. As a result of the continuing tourism development, the hotel industry in Malaysia is also continuingly developed to cater for more foreign visitors and provide better services.
The hotel industry in Malaysia is large. It offers accomodation ranging from lodging houses to five-star hotels, ranging from an inexpensive RM30 per day to an average of RM250 per day and can be as high as thousands. The visitors have a wider range of accomodation selection depending on their budgets. There are accomodation provider practically anywhere in all the major towns and cities.