KL eyes dollars during APEC meeting<\/p>\n
KUALA LUMPUR (Reuters): Recession hit-Malaysia is hoping
\nthousands of delegates to the Asia-Pacific Economic Cooperation
\nmeetings bring a little more than economic expertise and complex
\ntrade liberalization proposals.<\/p>\n
A few tourist dollars wouldn't hurt either.<\/p>\n
The meetings of the 18 APEC member economies, which culminate
\nin a leaders summit next week, is expected to draw some 10,000
\npeople to the country.<\/p>\n
\"We are looking at about 10,000 people coming ... journalists,
\nofficials, heads of state,\" said Sabri Sharif, an official with
\nthe APEC Business Advisory Council (ABAC), a group of business
\nleaders that advises APEC on its action plans.<\/p>\n
The guests include at least 2,500 journalists, said Mohammed
\nDaud, an official at Malaysia's Trade Ministry.<\/p>\n
An official at the Malaysian Tourism Promotion Board said a
\ntypical tourist spent 1,561.70 ringgit ($411) per visit last
\nyear, staying for an average of five days. If the 10,000 APEC
\nguests spend as much, this works out to about $4.1 million.<\/p>\n
Said Sabri: \"It's very few city hotels that won't benefit from
\nthis APEC event, also the food and beverage industry.\"<\/p>\n
Malaysian officials said they also hope for spin-offs as the
\ntrade experts, businessmen and leaders return as tourists.<\/p>\n
The series of APEC meetings started last Wednesday and will
\ncontinue into next Wednesday.<\/p>\n
The leaders' summit will take place on Nov. 17 and 18.<\/p>\n
Malaysian officials hope the tourist dollars will give at
\nleast a little filip to the sagging economy.<\/p>\n
The Malaysian economy is forecast to shrink by 4.8 percent
\nthis year, its first recession in 13 years.<\/p>\n
About 1,000 business leaders were expected to attend a three-
\nday APEC business summit starting on Saturday.<\/p>\n
\"If 10 percent of them, 100 of them...sing a song for
\nMalaysia, that is good,\" said Shafiq Sit Abdullah, ABAC executive
\ndirector.<\/p>\n
\"If all of them say Malaysia is bad, we're no worse off,\" he
\ntold Reuters.<\/p>\n
Officials had expressed concern that the ongoing trial of
\nsacked finance minister Anwar Ibrahim would attract negative
\npublicity for the country.<\/p>\n
Sporadic demonstrations calling for Prime Minister Mahathir
\nMohamad to resign have also occurred since Anwar's sacking on
\nSept. 2.<\/p>\n
Trade Minister Rafidah Aziz said Malaysia did not want foreign
\nleaders to discuss the Anwar case and would view such talk as
\nmeddling in its affairs.<\/p>\n
Anwar is on trial on charges of corruption and sodomy. He
\ndenies all the charges, saying he is a victim of a high-level
\nconspiracy.<\/p>\n
A Malaysian official said hopes of an inflow of tourist
\ndollars were tempered by realization that the government had to
\nspend money to hold the summit.<\/p>\n
\"If they spend a lot of money that would be good, but don't
\nforget we have to spend a lot of money to keep them here also,\"
\nsaid Razali Ismail, an adviser to Mahathir.<\/p>\n
The national Bernama News Agency has estimated that Malaysia
\nwill spend 26 million ringgit ($6.8 million) on the event.<\/p>",
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