KUALA LUMPUR, Feb 17 — Grab’s on-demand services, including ride-hailing and delivery, contributed RM9.9 billion to the Malaysian economy in 2023, according to a new report by local economics consultancy firm EconWorks.
The consultancy said the figure accounted for about 0.5 per cent of Malaysia’s total gross domestic product (GDP) in 2023, noting that 88 per cent of this value-added contribution came from Grab’s driver and merchant partners who operate across the different Grab services. In 2023, driver-partners contributed RM4.6 billion in value-added, accounting for 0.25 per cent of Malaysia’s GDP.
The company noted that Grab’s ecosystem supported up to 277,237 earnings opportunities, providing income streams for driver-partners, merchant-partners and workers in their combined supply chains.
“This means that one out of 64 individuals in Malaysia’s labour force benefits, directly or indirectly, from Grab-related activities. Earnings opportunities enabled by Grab have contributed an additional RM3.7 billion to household incomes. This increase in earnings for driver-partners and merchant-partners translates into more money in the pockets of Malaysians,” the consultancy firm said in a statement today.
EconWorks managing director Dr Wan Khatina Nawawi said that in its twelve years of operations in Malaysia, Grab has significantly contributed to economic benefits for various communities across the country. “For every RM1 generated by Grab transactions, an additional RM1.50 of economic activity is created across the broader economy. This underscores the positive impact of the Grab ecosystem on millions of Malaysians in their daily lives,” she noted.
She said the report highlights the advantages of Malaysia’s supportive business environment, which is now focused on the digital economy, enabling platform companies like Grab to thrive and contribute meaningfully to the economy. “By quantifying these contributions, this study provides a comprehensive view of how Grab and its stakeholders interact with the broader Malaysian economy, facilitating economic growth, she added. — Bernama
