Pestel Analysis of Malaysia
Now lets talk about Malaysia. This South East Asian Country is very dynamic, multiracial and highly cultural. We shall make a PEST Analysis of the Country and find some facts about them.
Indians | MALAYSIA
Malaysia in the 21st century is confident in its economic achievements and aspires to be a leader amongst Asian nations. Since achieving independence in 1957, it has enjoyed substantial success in reducing the rate of poverty, which stood at 3.7 percent in 2007, accelerating growth, which was an impressive 6.5 in 2010, and maintaining a democratic political system. Malaysia ranks among …show more content…
The result is apparent, with GDP growth reaching an average of over 6% per year for 16 years and which today continues a healthy growth, low unemployment figures of under 4% since 1992 and low inflation, despite the recent global rise in petroleum retail prices.
One of the most significant driving forces of the Malaysian economy today is the expansion in domestic demand, largely due to the private sector, a key player since 2003.
Analysis of the 2008 budget sees the economy in the long term being driven by the private sector, with important steps being implemented to reduce the cost of doing business, promoting national and foreign investment and promoting competitiveness. Several steps are being taken to improve the country’s competitiveness, including the introduction of a new business traveller visa as well as multiple entry visas for Chinese and Indian nationals which are likely to increase the demand for transitory residences (rental properties). Additionally, RM 858 million (€ 177 million or just under £ 124 million GBP) has been allocated to the Tourism sector with the goal of improving and diversifying the tourist attractions and upgrading tourist facilities. A Tourism Infrastructure Fund of RM 200 million has been created to further promote tourism activities in Sabah and Sarawak, the two Malaysian states which make up Malaysian
As well as the announced 50% exemption on stamp duty tax for the purchase of one property whose purchase