Survey: Malaysian Businesses Focusing on Domestic Growth

KUALA LUMPUR, Sept 24, 2026 – Malaysian businesses are prioritising sustainable growth at home as rising costs and inflation drive a more disciplined approach to hiring and investment, according to The Great Restructuring: ASEAN Consumer & Business Pulse Survey 2026, published by Reeracoen Group with Rakuten Insight.

The survey, covering six Southeast Asian markets, found 75% of Malaysian businesses identified the domestic market as their biggest growth opportunity – the highest proportion among the countries surveyed. Employers are becoming more selective, with 36% hiring only for critical roles and just 7% expanding headcount more broadly.

Malaysian Businesses

“Malaysian employers continue to hire for critical roles, but decisions are increasingly aligned with long‑term priorities,” said Yohei Yagi, Reeracoen Malaysia country manager. He added that companies focusing on operational efficiency while investing in growth capabilities will be better positioned to capture opportunities.

Investment strategies also reflect caution: 16% of businesses are increasing spending, while 46% are maintaining current levels. The emphasis is on strengthening operations and managing resources carefully rather than aggressive expansion.

Consumers are adapting too. 88% of Malaysian respondents reported spending more cautiously, citing higher food prices (64%), fuel and transport costs (46%), and household bills (38%) as key pressures. Financial priorities are shifting, with 54% seeking additional income sources and 41% saving more.

Rakuten Insight’s Collin Leow said the findings show a pragmatic response: “Malaysia’s market is adapting to changing conditions, balancing caution with long‑term planning.”

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