Enhancing Malaysian Entrepreneurs Business Venture and Innovation in Tourism Industry through Knowledge and Technology Adoption

Abstract

Tourism was considered a luxury for the social elite and travelling to known destinations was traditionally promoted. The world has become more integrated via increased trade investments and capital flows, as well as labor movements. Also, technology creates opportunities for emerging destinations, irrespective of their economic status. This transformation also escalates economic development in the Developing and Least Developed Countries. These changes will justify the universal promotion of tourism and decrease discriminatory effects in the global travel and tourism industry. This is all guided and influenced by relevant policies, technology and knowledge transfer and technology adoption, which is absolutely important and beneficial to Malaysia’s tourism industry, since the trend of globalization of the world economy has increased. In this paper desktop research through secondary data has been adopted to determine the progress and performance as well as identify challenges and barriers faced by the entrepreneurs in the tourism industry, and many recommendations have been proposed so that these challenges and barriers can be overcome by government intervention.