| The RM250 billion economic stimulus package announced by Prime Minister Muhyiddin Yassin last Friday had been welcomed by many quarters that stand to benefit but for the local tourism industry, it was more like a knockdown blow.
Instead of cash flowing in during normal times from sales, cash had been flowing out to pay customers entitled for refunds from cancellations. This is on top of monthly overheads such as staff salaries, rentals, utilities and loans. The second economic stimulus package made little distinction between businesses hardest hit by the coronavirus and the least affected. A Wage Subsidy Programme was introduced across the board to assist all employers in retaining workers.
In contrast, our neighbour down south has a good grasp of the tourism business, and it is no surprise the small island nation had been attracting more foreign tourists, not counting Malaysians and Singaporeans, than our relatively vast country with much more to offer. While Singaporean tourism players are relieved and appreciative that most of their appeals have been granted, the Malaysian Association of Hotels described the second economic stimulus package as below expectation, while Matta expressed disappointment and fear that more travel agency staff will lose jobs.
Not only Malaysia, is the whole world effected
It's only TEMPORARY & NOT affecting Too Much On GDP as the World over is on the same page.!!!!!
Not just here. It is everywhere
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Fonte: malaymail - 🏆 1. / 86 Consulte Mais informação »