10 Outlook
10 Outlook
May-June . 2024
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Opportunities for growth
RAM Group highlights sustainability , connectivity , and cultural appeal to enhance Muslim-friendly tourism
GLOBAL initiatives like COP26 underline environmental urgency and governance ’ s role in driving industry-wide sustainability initiatives . It reflects a broader trend towards regulatory monitoring and accountability for industry environmental and social issues .
Muslim-friendly tourism can also benefit from these trends as part of the broader movement towards sustainable tourism . Integrating Environmental , Social , and Governance ( ESG ) principles can cater to a significant and growing market while promoting responsible and ethical travel practices .
RAM Holdings Berhad ( RAM Group ) CEO and Executive Director Chris W . K . Lee noted a growing interest in ESG principles to enhance sustainability within the tourism sector .
“ One notable shift in the environmental domain is sustainable resource management . Businesses , especially hotels , can leverage green financing and incentives to invest in eco-friendly initiatives .”
According to Lee , financial institutions in Malaysia offer lower loan rates to companies that fulfil their ESG responsibilities .
NEW POLICIES WITHIN HOTEL INDUSTRY
Lee also touched on the changing policies regarding sustainability within the hotel industry , notably among large international hotel chains . These changes involve hotel services like daily bedsheet and towel changes , which will only be available upon request , often for an additional fee .
With a fee imposed , guests are more inclined to reuse , which prompts them to be more ecologically responsible . Additionally , these changes can reduce the water and energy required for laundry , ultimately reducing operational costs .
“ It ’ s a vicious cycle , and everyone has to work together to make sure that the industry balances its comfort level as well as the sustainable level itself ,” Lee remarked .
������������������������ FRIENDLY TOURISM
“ What I ’ m seeing positively is that we are making more of our airports international ,” observed Lee .
More Malaysian airports are becoming international , making direct and charter flights to various destinations possible .
Improving flight connectivity and destination accessibility presents significant growth opportunities for the Muslim-friendly tourism sector . Given the remarkable success in attracting tourists from specific East Asian markets to East Malaysia , this initiative is essential .
When travelling to Malaysia , tourists may be inconvenienced by taking additional domestic flights to reach other regions . Addressing these inconveniences will reinforce Malaysia ’ s commitment to being a Muslim-friendly destination and generate higher tourism revenue .
Furthermore , there is great potential in the Scan Me
Muslim-friendly tourism market by continuing to ensure safety and Muslim-friendly accommodations . Lee stated that practically all hotel rooms in Malaysia are Muslimfriendly and equipped with the necessary amenities .
“ To further solidify Malaysia ’ s reputation as a top choice for Muslim-friendly travel , we need to have more data regarding the kind of tourists coming here to Malaysia ,” he added .
This data can help the industry determine whether tourists travel independently or through organised tour packages . It can also help adapt services to meet guests ’ needs .
MULTICULTURAL DESTINATION
As a predominantly Muslim country , Malaysia has a well-developed halal food sector . Most food available is halal-certified , encompassing a diverse range of options , from traditional Malaysian cuisine to international cuisines like French , Italian , Chinese , and Indonesian .
The culinary diversity of Malaysia ’ s halal offerings contributes to its appeal as a Muslim-friendly destination . By showcasing this , Malaysia can position itself as a leading choice for tourists seeking high-quality halal cuisine .
Lee did , however , emphasise that Muslimfriendly tourism should not be viewed simplistically , particularly when promoting Malaysia .
Malaysia has been marketing itself as a Muslim-friendly destination by targeting countries with large Muslim populations . This approach centred mainly on providing basic religious accommodations like halal food and prayer facilities .
While both are important in Muslimfriendly tourism , the broader range of interests and experiences that tourists , in general , might seek needs to be considered .
Hence , Lee stressed the importance of creativity in designing travel packages . Travel agents and their partners can also include offering premium services . The idea is to move beyond just promoting Malaysia as a food destination and provide a broader and richer experience .
“ Malaysia , as I mentioned , is strong in halal food , but there also have to be other attractions ,” said Lee .
RAM Group specialises in credit ratings across various industries . Since 2016 , RAM Group has expanded its services to include sustainability services , focusing on helping industries adopt more sustainable practices . – RnR