AI at Work: Southeast Asia’s Perspective
Recently, AI has dominated tech conversations, but what about the everyday people? Are they using it, and what do they think about its impact on
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Malaysia stands as a compelling economic force, presenting vast opportunities for both local and foreign businesses seeking to enter into this thriving market. However, the market often lacks reliable and up-to-date information. Existing market research solutions are either prohibitively expensive or offer data quality and coverage.
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Malaysia is a Southeast Asian country with a land area of approximately 329,847 km². It is divided into two regions: Peninsular Malaysia, which is located on the Malay Peninsula, and East Malaysia, which is located on the island of Borneo. Peninsular Malaysia is bounded by the South China Sea to the east, Singapore at its southern tip, Thailand to the north, and the Strait of Malacca to the west.
Kuala Lumpur
33.57 Million
$373 billion
Malaysia boasts one of the world’s most open economies, with an average trade-to-GDP ratio exceeding 130% since 2010. Embracing trade and investment has been pivotal in fostering job opportunities and income growth, with nearly 40% of employment in Malaysia tied to export-related endeavors. Despite weathering the Asian financial crisis of 1997-1998, Malaysia has experienced consistent economic growth, averaging 5.4% since 2010. It is projected to ascend from an upper middle-income economy to a high-income economy by 2024.
Malaysia is renowned for its robust engagement in global trade. In 2022, foreign trade accounted for 131% of the country’s GDP, underscoring its reliance on external demand. Malaysia’s key exports include electrical and electronic equipment, mineral fuels, oils, distillation products, machinery, nuclear reactors, boilers, animal products, and rubber. China, Singapore, the United States, Hong Kong, and Japan were among Malaysia’s primary trading partners in 2022.
Tourism in Malaysia is a significant contributor to the country’s economy. In 2019, Malaysia welcomed 26.1 million international tourist arrivals, who contributed MYR240.2 billion (or 15.9 percent) to the country’s GDP. Malaysia’s diverse cultural heritage, stunning natural landscapes, and delicious cuisine attract visitors from all over the world. Popular destinations include Kuala Lumpur, Langkawi, Penang, and Malacca, each offering a unique travel experience. Malaysia’s tourism industry has faced challenges due to the COVID-19 pandemic, but the country remains optimistic about its future as a travel destination.
Malaysia’s internet usage has been steadily increasing over the years. In 2020, around 88% of the Malaysian population was using the internet. By 2025, this figure is projected to grow to 89.6%. This growing trend in internet usage is expected to contribute to the country’s digital economy, which has been identified as a key driver of Malaysia’s economic growth.
Although Malaysia’s economy is less developed than Singapore’s, it shares a high internet penetration rate of 90%. The widespread use of smartphones also contributes to the thriving internet economy, particularly in social media.
In January 2023, Malaysia had 26.80 million social media users, constituting 78.5% of the total population. WhatsApp, Facebook, and Instagram are the most popular social media platforms in the country.
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Enhance your knowledge with our complimentary online resources in Malaysia.
Explore Malaysian consumers' opinions and preferences on various industry topics.
Some of the leading news and media outlets in Malaysia
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