Participants brought in RM12.8 billion
KUALA LUMPUR: The Malaysia My Second Home (MM2H) programme has attracted not only retirees but the younger age group and since its inception in 2002, the programme has accepted 33,300 applicants .
Tourism and Culture Minister Datuk Seri Nazri Aziz said MM2H had been well received by foreigners from 126 nations.
“China tops the list with 8,714 approved participants, followed by Japan (4,225), Bangladesh (3,546), United Kingdom (2,412), lran (1,336), Singapore (1,295), Taiwan (1,208), South Korea (1,266), Pakistan (973), and lndia (890),” he said at the Malaysia My Second Home National Workshop yesterday
He said the tangible benefits and contribution to the Malaysian economy amounted to RM12.8 billion.
“Collection from visa fees, including multiple entry, social pass and journey performance visa, amounts to RM52 million.”
He said the fixed deposits of the participants amounted to RM4.9 billion, purchase of automobiles was RM148 million and purchase of properties RM4.9 billion.
“Their estimated monthly expenses amounted to RM10,000.
“This does not include the spillover effect of their relatives and friends visiting Malaysia and spending on accommodation, food, travel and shopping.”
Nazri said Malaysia was ranked sixth best retirement destination in the world for this year based on International Living 26th Annual Global Retirement Index.
On the implementation of the Tourism Tax, Nazri said it would be implemented like the Goods and Services Tax as the bill had been passed in Parliament.
“The implementation of the tax will be nationwide and the Customs Department will be in charge of the collection.”
He said the tax was compulsory as it helped generate funds to help the ministry’s effort to promote the Malaysian brand.
On the Kelantan Syariah bill which provided for public whipping for certain offences and how it would affect tourism, Nazri said, “Kelantan was never a major tourist location.
“If tourists find it uncomfortable, they can choose to visit other states.”