Penang Convention and Exhibition Bureau (PCEB) CEO Ashwin Gunasekaran said thousands of conferences were being relocated across the Asia-Pacific and Europe due to the conflict.
Ashwin said PCEB is targeting 26 international conferences to be held in Penang over the next two years, describing them as “low-hanging fruit” as they were already planned events seeking new venues.
“We are seeing an increase in events as a result of major cancellations in the Middle East due to the geopolitical tensions there.
“There is strong competition now as opportunities are opening up in the Asia-Pacific market for these conferences,” he told reporters on the sidelines of the launch of PCEB’s BE Associate programme at the St Giles Wembley Hotel here.
Earlier, Penang chief minister Chow Kon Yeow launched the BE Associate programme, which aims to train college students for careers in the business events industry under the mentorship of industry professionals.
In his speech, Chow said the business events sector contributed significantly to the state economy, with 3,391 business events generating RM1.91 billion in economic impact last year.
“Behind these numbers are real outcomes – more jobs, more business for local companies, and more activity across the entire ecosystem, from hotels to small businesses.
“When business events grow, the economy grows with them,” the chief minister said.
However, he noted that the global tourism sector continued to face challenges, with geopolitical tensions making travellers more cautious, leading some to delay trips or opt for closer destinations.
Chow said business events were becoming increasingly important as people continue to travel for meetings, conferences and exhibitions, often extending their stays and bringing family members.
“This helps support our tourism industry during uncertain times. Given these challenges, we cannot afford to be slow in talent development. We must move faster.
“Job demands are evolving rapidly, and our young people must be prepared to keep pace. We want Penang’s youth to remain competitive, seize opportunities and grow in their careers,” he added.