For Malaysia to continue being competitive as a global tourism destination, several things need to be done. One of those is the establishment of world class hospitality and tourism facilities in Malaysia. And there are several ways in which this can be done.
One option that is open, when it comes to the establishment of world class hospitality and tourism facilities in Malaysia, is that of getting local investors to set up the facilities. The local investors are better placed to understand the diverse needs of the tourists who visit Malaysia and to set up hospitality and tourism facilities to cater for such needs. The challenge that local investors face, when it comes to these sorts of ventures, is that of funding. They always seem to have difficulties securing the money they need to set up truly world class hospitality and tourism facilities. The establishment of such facilities costs a lot of money: which local business folks are often unable to marshal.
Another option that is open, when it comes to the establishment of world class hospitality and tourism facilities in Malaysia, is that of getting foreign investors to set up the facilities. There are folks with idle money all over the world. They only need to be shown viable investment opportunities. Let’s assume, for instance, that a particular Florida businessman is invited to set up a world class hotel in a certain part of Malaysia. All that the businessman in question needs to do is set up some sort of Sunbiz corporation to serve as a holding company for the hotel. Thereafter, the only thing he would need to be doing is filling a Sunbiz annual report, while continuing with the business in Malaysia.
Once Malaysia establishes its reputation as a country with world class hospitality and tourism facilities, you are likely to see hordes of tourists seeking to visit the country. This is in turn likely to lead to even more investment in the Malaysian hospitality and tourism industry: giving rise to some sort of multiplier effect.