Economic_Forces

Economic forces Macroeconomic is means that economic system such as a whole country or area of world. The macroeconomic can consist of four points .There are inflation, economic increasing, unemployment and balance of payment. Genting Highland take pride in being one of the major contributors of tourism sector in the country and that they are playing a significant role as a net earner of revenue and foreign exchange for the Malaysian economy. According to the research of World Travel & Tourism Council (2002), Malaysia Travel and Tourism Economy employment is estimated at 1,345,000 jobs in 2006, 12.6% of total employment. Genting Highlands registering a new high of 19.6 million visitors in year 2007. Besides that, it also create a lot of job opportunities to over 13000 people(mainly Malaysian). The company also provide leisure-related job. By 2016, this should total 1,818,000 jobs, 13.9% of total employment. Tourism can generate jobs directly through hotels, restaurants, nightclubs, taxis and souvenir sales, and indirectly through the supply of Gross Domestic Product (GDP) needed by tourism-related businesses. As you are aware, Genting Group is by no means limited to the leisure and tourism business. The company, infact began to diversify as early as the late 70s. With leisure and tourism as its core business, the company also ventured into the plantation, property development, paper manufacturing, power generation, oil and gas exploration. Significant Growth in Asian Casino Industry Since 1999. The casino industry in Asia has grown significantly across the Asia Pacific region since 1999. The growth of the casino market in Asia over the past 10 years and its continued expansion will have an impact on established casino markets in the region, including Australia. Malaysia and Macau have led the way with the development of integrated casino resorts. The year under review was an active year for the Group with the construction of new facilities and addition of new businesses. Despite the difficult economic conditions, the numbers of visitors have increased and the hotel occupancy continued to be strong.