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December 21, 2016
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Asia: Weak Ringgit Helps to Boost Inbound MICE Business


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ringgit

Malaysian inbound MICE players and suppliers have seen a further spike in business due to the weakened ringgit in light of the US election results last month. The currency has fallen nearly seven per cent since November 9, 2016, and today, the ringgit is trading at RM4.43 against the US dollar.

Arokia Das, senior manager at Luxury Tours Malaysia, revealed on the sidelines of the recent BE@Penang that incentive travel business from India and Indonesia for 1Q2017 was at least 20 per cent better than the corresponding period in 2016. He said that many organisers had locked in the rates in November as they thought the ringgit was at its lowest.

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