With a fast-rising economy, attractive GDP, enticing population and market, and a liberal visa application system – typified by the exemplary Malaysia visa for Indians, it is not surprising to see many business minds expanding their businesses into Malaysia, or coming to start a new one. And who can blame them? The allures of Malaysia as a vibrant business ground are quite understandable and felt by many – little wonder why the country is often referred to as a hotbed of business activities and a center of excellence too. That said, if you’re also getting tempted to start your own venture or company in Malaysia, here are five of the best business opportunities you can try out in the country in 2019.
Take it or leave it, Malaysia is one of the world’s leading tourist centers. In fact, if recent reports are anything to go by, then it is safe to say that Malaysia is one of the top ten tourist destinations in the world. And who can argue against that? With a wealth of attractive sights and sceneries to be explored, activities and fun to be enjoyed, foods and cuisines to be sampled, and a unique culture to be discovered, not many countries can boast of having the same attractive pull that Malaysia has on tourists. Due to these facts, the number of travelers, tourists, and visitors that are coming into Malaysia keeps growing by the years, and as such, a solid business base is being created. Thanks to the number of visitors Malaysia receives every year, the tourism sector of the country’s economy is now one of the most profitable, lucrative sectors in the country. So, if you’re looking to leverage the wealth of opportunities locked within Malaysia, then the tourism sector is really a place you want to check out. Thanks in large parts to this sector, business opportunities, including restaurants, accommodations, tourism, exploration, and transportation, has continually presented business minds with endless opportunities.
Like I mentioned earlier, the number of tourists flocking into Malaysia keeps growing by the day, and as a result, there is now a need for travel agencies that can cater for the need of these visitors. These agencies tend to the successful visitation of tourists, exploration of Malaysia, and several other activities revolving around a tour of Malaysia. With this opportunity, you can either start a small business venture to cater to the needs of tourists while they’re in Malaysia, or you can launch a very big company that does more than that, depending on your investment capability. By the way, it is not compulsory that you go by way of Uber, Lyft, or one of those big agencies in the country. You can even launch a small business venture that shows visitors around, guide them through their tours, and help them experience and explore the best parts of Malaysia.
Food and Beverages
I know I’ve been talking all about the huge influx of tourists into Malaysia, but beyond these sight-seers is another pool of crowd – the Malaysian population. So, when you throw in the mix the huge number of people living in each and every city of Malaysia, then you can understand why there is a growing demand for foods, beverages, alcohols, and other forms of enjoyment and relaxation. To this effect, the number of cafes, restaurants, bars, pubs, and hotels has been increasing every year. With this, a business – whether small or large – that supplies food, enjoyment, and relaxation to such establishments is a profitable one as eating and relaxation can never go out of style.
It is no longer news that Malaysia boasts some of the best designer brands in Asia, and the reason is quite obvious – the Malaysian designers are exploring their potential actively. Although the market may not be as huge as those of the neighboring countries, it is still worth giving a shot.
Although Malaysia has many existing micros and small financial services, Malaysians still struggle to enjoy access to basic savings, credit services, and other exciting financial packages because many of these existing enterprises lack proper access to funds. If you have the right financial know-how, and you’re lucky enough to have access to the right amount of capital, then this is an area you really want to delve into. Like we’ve already established, Malaysia has gradually transformed itself into a business ground, and offering financial supports to these businesses might be a great way to launch your own brand and generate some cool revenues.