The Penang Convention & Exhibition Bureau held a launching ceremony with 100 attendees yesterday to announce the launch of the Business Events Penang Annual Review 2020.

Penang State Chief Minister Chow Kon Yeow, along with Penang State Exco for Tourism and Creative Economy, Yeoh Soon Hin, and PCEB's CEO Ashwin Gunasekaran, launched the event.

Penang achieved a total of 156 events with 19,283 delegates for the year 2020, which generated an Estimated  Economic Impact ( EEI) of RM 66 million.

Through the events, the hotels and accommodation managed to record a total of more than 44,044 room nights.

Chief Minister, Chow Kon Yeow said the EEI contributed by the business events industry shows their importance in a healthy build-up for the Penang state's economy, which will also lead to a continuous positive impression for Malaysian in the global arena.

" Throughout 2020, PCEB has ensured that the destination branding for Penang continues to be relevant mainly domestically but also being constantly uplifted internationally and I believe the numbers will continue to increase encouragingly and business events trends will continue to pick up when international borders open", he said in his speech during the launch.

The event also featured a short video thanking the industry and highlighting the activities and initiatives carried by the Penang state government and Business Events Penang players during the year 2020 to fight the pandemic's effects and revitalise the tourism and business events industries, which were both heavily impacted.

Penang State Exco for Tourism and Creative Economy, Yeoh Soon Hin said Penang can continue staying relevant as a choice business events destination establishing stronger bonds with other partners.

" PCEB has continued to maintain our connections with potential partners and stakeholders not only within Penang but have also expanded our existing network and forged other regional and international ties through various virtual portals in this Next Normal," he said at the event.

PCEB currently has 133 active members through its Industry Partners Programmes (IPP), which include Convention Centres & Unique Venues, hotels, Professional Conference Organisers, Destination Management Companies, Travel Agencies, Event Management Companies, Tourism Product and Event Product and Service Providers, and Event Management Companies.

From 2016 to 2019, PCEB has attracted over 10,413 events across all segments since its inception.

However, due to the COVID -19 pandemic, the number of events and Estimated Economic Impact (EEI) in 2020 decreased by 96% when compared to 2019.

Meanwhile, Chief Executive Officer of PCEB, Ashwin Gunasekaran said that we have to keep in mind that the business industry event is built on the principles of collaboration.

" We have to cleverly harness its power, exhausting every potential avenue so that we can find business opportunities together", he said.