Economy, Malacca City

Since the era of Malacca Sultanate, the city has prospered as a successful entrepôt, putting it in the same position as Venice, Cairo and Canton.When the European conquest begin, Malacca had developed into a cosmopolitan city with a long-standing European heritage. The arrival of Chinese traders and coolie during the sultanate era and European colonisation saw a large boost to the economy, especially during the administration of Dutch and the British.In modern times, the tourism is more dominant than the primary-based industry due to its historical riches with the melting pots of cultural influences which attracted many local and foreign tourists to visiting the city,which also became part of the state economy income. In addition to its strategic location in the maritime Silk Road, the city benefited from the rise of China and India as world economic powers.Malacca City has hosted numerous national, regional and international conferences, congresses and trade fairs in the Malacca International Trade Centre.In early 2016, the Malacca state government has start to develop a new economic development area in the central city centre which will be known as the Hang Tuah Trade Centre that will encompassing trade centres, higher education, hospitality and business.