Editing Penang (section)

=== Services ===
[[File:Skyline of George Town, Penang at night January 2025 02-01.jpg|thumb|Skyscrapers along [[Gurney Drive, George Town|Gurney Drive]], part of [[George Town, Penang|George Town]]'s [[George Town Central Business District, Penang|Central Business District]] (CBD).]]
The services sector contributed 48% of Penang's GDP {{As of|2023|lc=y}} and employed almost {{Frac|3|5}} of the state's workforce.<ref name="dosm2024" /><ref name="GDP by state 2024" /> [[George Town, Penang|George Town]] is the commercial hub of northern Malaysia.<ref>{{Cite journal |last=Yeap |first=Soon Lye |date=November 1998 |title=Urban Revitalization of Historical Town Centre: A Case Study of the Cultural Heritage Zone of George Town, Penang |url=http://psasir.upm.edu.my/id/eprint/11940/1/FRSB_1998_1_A.pdf |journal=[[University of Putra Malaysia]] }}</ref> {{As of|2023}}, finance and ancillary services contributed 9% of Penang's GDP.<ref name="GDP by state 2024" /> The [[Penang International Airport]] (PIA) is the country's second busiest in terms of aircraft movements and in 2023, handled RM365 billion (US${{To USD|385|MYS|year=2021}} billion) worth of exports, the [[List of Malaysian states and municipalities by exports#Exports by city and municipality|highest of all entry points nationwide]].<ref name=":2">{{Cite news |last=Opalyn Mok |date=24 Jan 2025 |title=Penang airport ranks second in Malaysia for aircraft movements |url=https://www.malaymail.com/news/malaysia/2025/01/24/penang-airport-ranks-second-in-malaysia-for-aircraft-movements/164452 |access-date=20 Apr 2025 |work=[[Malay Mail]]}}</ref><ref name="Dept Statistics Malaysia-2023">{{Cite journal |date=Jul 2024 |title=Final External Trade Statistics 2023 |journal=[[Department of Statistics Malaysia]] |pages=100 |issn=2180-1827}}</ref> In 2024, the [[Port of Penang]] processed over 1.4 million [[Twenty-foot equivalent unit|TEUs]] of cargo, the third highest among Malaysia's seaports.<ref name="Ministry of Transport 2024">{{Cite journal |date=15 March 2024 |title=Table 3.5: Total Container Throughput By Ports, Malaysia, 2023 |url=https://www.mot.gov.my/my/Statistik%20Maritim/2023%204%20-%20SUKU%20IV%202023/JADUAL%203.5%20JUMLAH%20KONTENA%20YANG%20DIKENDALIKAN%20MENGIKUT%20PELABUHAN,%20MALAYSIA,%20SUKU%20KEEMPAT,%202023.pdf |journal=[[Ministry of Transport (Malaysia)|Ministry of Transport]] }}</ref><ref name=":1">{{Cite web |title=Total Container Traffic |url=https://www.penangport.gov.my/en/port-performances/penang-port/total-container-traffic |access-date=20 Feb 2025 |website=[[Penang Port Commission]]}}</ref>

Traditionally one of Malaysia's most popular tourist destinations, Penang has embarked on [[Economic diversity|economic diversification]] by expanding its tourism offerings in areas such as [[Medical tourism|health care]], [[MICE tourism|business events]], [[ecotourism]] and cruise arrivals.<ref name="Penang state govt-2021b">{{Cite journal |date=May 2021 |title=Penang Tourism Master Plan 2021–2030 |url=https://gtwhi.com.my/wp-content/uploads/2022/03/Penang-Tourism-Master-Plan-2021-2030-Report.pdf |journal=[[Government of Penang|Penang state government]] |isbn=978-967-19661-0-5 }}</ref> Penang is the leading destination in Malaysia for [[medical tourism]].<ref name="Mulyanto-2023">{{Cite news |last=Mulyanto |first=Randy |date=21 November 2023 |title=Malaysia's Penang Lures Medical Tourists from Indonesia |url=https://asia.nikkei.com/Business/Health-Care/Malaysia-s-Penang-lures-medical-tourists-from-Indonesia |access-date=7 December 2023 |work=[[Nikkei, Inc.]] }}</ref><ref>{{Cite news |date=20 March 2019 |title=Penang Business Events Industry Rakes RM1.3 Billion Last Year |url=https://www.bernama.com/en/business/news.php?id=1707344 |access-date=2 March 2024 |work=[[Bernama]] }}</ref> The state's business events industry generated an economic impact of nearly RM1.3 billion (US${{To USD|1.3|MYS|year=2021}} billion) in 2024.<ref>{{Cite journal |date=2025 |title=Business Events Penang 2024 Annual Review |url=https://www.pceb.my/wp-content/uploads/2025/03/Business-Event-2024-Annual-Review.pdf |journal=Penang Convention and Exhibition Bureau}}</ref> Penang's retail sector is characterised by a diverse range of establishments, including modern shopping malls and traditional shophouses that specialise in local delicacies and produce.<ref name="Mui-20032">{{cite web |author1=Lim Yoke Mui |author2=Nurwati Badarulzaman |author3=A. Ghafar Ahmad |date=20–22 January 2003 |title=Retail Activity in Malaysia : From Shophouse to Hypermarket |url=http://www.prres.net/papers/lim_etal_retail_activity_in_malaysia_from_shophouse_to_hypermarket.pdf |url-status=dead |archive-url=https://web.archive.org/web/20160124141720/http://www.prres.net/papers/lim_etal_retail_activity_in_malaysia_from_shophouse_to_hypermarket.pdf |archive-date=24 January 2016 |access-date=24 January 2016 |work=School of Housing, Building and Planning, University of Science, Malaysia |publisher=Pacific Rim Real Estate Society (PRRES) }}</ref><ref name="Ng-20062">{{Cite news |date=13 June 2023 |title=Hawker Stall Island |url=https://www.odt.co.nz/lifestyle/travel/hawker-stall-island |access-date=26 December 2023 |work=[[Otago Daily Times]] }}</ref>

Penang is also a major hub for [[Outsourcing|shared services and outsourcing]] (SSO). By 2016, the state attracted RM4.1 billion of investments for global business services (GBS), the second largest share in the country after Kuala Lumpur.<ref name="Opalyn Mok-2018a">{{Cite news |last=Opalyn Mok |date=6 December 2018 |title=CM Wants Penang to be a Global Business Services Hub |url=https://www.malaymail.com/news/money/2018/12/06/cm-wants-penang-to-be-a-global-business-services-hub/1700603 |access-date=5 December 2023 |work=[[Malay Mail]] }}</ref><ref>{{Cite journal |last=See |first=Lay Hoon |date=2010 |title=A Workforce Value Chain Analysis in High Tech Multinational Corporations' Electronics Manufacturing in Penang |url=http://eprints.usm.my/28842/1/A_Workforce_Value_Chain_Analysis_in_High_Tech_Multinational.pdf |journal=[[Universiti Sains Malaysia]] }}</ref> The [[Offshoring|offshore]] expansion of multinational firms to Penang has led to the creation of thousands of jobs and an increased demand for new office spaces within the state.<ref name="Opalyn Mok-2018a" /><ref>{{Cite news |last=Christopher Tan |date=8 December 2021 |title=Penang Taps into the Potential of Global Business Services |url=https://www.buletinmutiara.com/penang-taps-into-the-potential-of-global-business-services/ |access-date=25 December 2023 |work=Buletin Mutiara}}</ref> In addition, Penang is home to a thriving [[Startup company|startup]] community, driven by home-grown companies like [[Piktochart]] and DeliverEat.<ref name="Chia-2017">{{Cite news |last=Lianne Chia |date=26 January 2017 |title=A Silicon Valley of the East: Penang's thriving start-up community |url=http://www.channelnewsasia.com/news/asiapacific/a-silicon-valley-of-the-east-penang-s-thriving-start-up-communit-7576346 |url-status=dead |archive-url=https://web.archive.org/web/20180129141207/https://www.channelnewsasia.com/news/asiapacific/a-silicon-valley-of-the-east-penang-s-thriving-start-up-communit-7576346 |archive-date=29 January 2018 |access-date=27 May 2017 |work=[[CNA (TV network)|Channel NewsAsia]]}}</ref><ref>{{Cite web |last=Daniel Tay |date=11 June 2015 |title=Connecting Asia's Startup Ecosystem |url=https://www.techinasia.com/penang-silicon-valley-of-east-iot |access-date=28 May 2017 |website=[[Tech in Asia]] |language=en-US }}</ref>