The Covid-19 crisis will cause losses of up to RM60 billion in foregone tourist receipts, according to a research study.
Matta president Tan Kok Liang said the tourism industry was the first to feel the economic impact of the pandemic and will be the last to recover. He said there should be more focused financial aid for the sector.However, the wage subsidy programme should be extended from three months to six as the tourism industry will take a longer period to recover.
He said government financial aid would lift some burden on expenses and costs, but sustaining their workforce with little to no revenue would be a major problem. He said the sector could take between six to nine months to get back on its feet as the economic impact of the pandemic would see fewer vacationers in the short-term future, even after the movement control order.
He said a generic stimulus package that caters to all would be insufficient to keep the tourism industry afloat, adding that MAH had previously submitted proposals to the finance minister specific to the industry.