Prime Minister Datuk Seri Najib Tun Razak delivers his keynote address during the Malaysian Association of Tours and Travel Agents (MATTA) ‘meet with PM’ event in Kuala Lumpur, August 27, 2015. — Picture by Yusof Mat Isa

KUALA LUMPUR, Aug 27 — The current exchange rate will attract more tourists to the country, Prime Minister Datuk Seri Najib Razak said today as Malaysia’s ringgit continues its tumble.

Despite the country facing a downward trend in tourism over the past year due to incidents like the massive floods in the east coast and recent air disasters, Najib said the exchange rate alongside other factors will help spur business from tourism activities.

“Our renowned Malaysian hospitality and culture of service, our rich natural heritage, our cultural diversity, and of course now more than ever, the value for money that foreign tourists will experience in Malaysia compared to many other destinations because of the exchange rates.

“All of these are still huge selling points that need to be amplified and communicated across all channels to drive up tourism numbers,” he said in his speech at the Malaysian Association of Tours and Travel Agents (MATTA) “meet with PM” event today.

Najib went on to explain how the number of tourist arrivals in the country in the first quarter had dipped by 8.6 per cent compared to the corresponding period last year due to catastrophes like the floods and disasters like the disappearance of Flight MH370 and the downing of MH17.

The Pekan MP added that tourism was one of the highest grossing industries in the country and measures need to be taken to improve the industry as it affects other sectors.

“Tourism in Malaysia is the fifth largest contributor to the Malaysia’s economy, contributing RM61 billion to the nation’s Gross National Income and RM72 billion in tourism receipts.

“It has a ripple effect on almost every other industry most notably retail, consumer services, real estate, banking and finance,” Najib said.

Malaysia has been dogged by criticism locally and internationally over various issues faced in the country including the rapid falling of the ringgit against the United States Dollar.

Many opposition politicians and even former prime minister Tun Dr Mahathir Mohamad have been attacking Najib and his administration over their handling of the economy as well as state-owned fund, 1Malaysia Development Berhad (1MDB).