- June 5, 2017
- Posted by: admin
- Category: Daily News
- A global management consulting company has placed Malaysia in third position for retail investment worldwide for the second successive year.
- AT Kearney partner and head of South-East Asia, Soon Ghee Chua, said the firm’s 2017 Global Retail Development Index (GRDI) had placed Malaysia behind China and India, driven by an influx of tourists, higher disposable income and government investments in infrastructure, all of which have provided a boost to the retail industry.
- “Retail sales in Malaysia grew 3.8% in 2016, driven in large part by a 6.1% increase in private consumption despite the headwinds of a depreciating currency,” he said in a statement on 5 Jun 17.
- Soon said tourism was a cornerstone of the Government’s long-term growth plan, and the number of tourists was projected to grow from 26 million in 2016 to 36 million by 2020. The numbers were expected to be boosted by Chinese travellers, who have been granted visa-free entry since Mar 16, he added.
- Meanwhile, he said online retail was expected to grow at 23% per year through 2021, driven by electronics and media. He said the growth in online retail, along with the rise in mobile phone adoption across the nation, would continue to provide momentum to the sector’s growth and attract further investment.