Reeracoen Group x Rakuten Insight survey finds Malaysian businesses taking a measured approach to hiring and investment, with the strongest domestic-market focus among six ASEAN markets surveyed
KUALA LUMPUR, Malaysia, Sept. 24, 2026 /PRNewswire/ — Malaysian businesses are responding to cost and inflation pressures with operational discipline and a sharpened focus on the domestic market, according to new findings from The Great Restructuring: ASEAN Consumer & Business Pulse Survey 2026.
Yohei Yagi, Country Manager, Reeracoen Malaysia
Published by Reeracoen Group, a leading Asia-based recruitment and HR solutions group, in partnership with Rakuten Insight, an online market research subsidiary of Rakuten Group, Inc., the study finds that 75% of Malaysian businesses identify their home market as their top growth opportunity, the strongest domestic orientation recorded in the survey.
A more focused approach to hiring and investment
Malaysian businesses are concentrating on strengthening existing operations while taking a more selective approach to workforce growth. Selective hiring is the most common hiring stance, cited by 36% of businesses, while 7% are expanding headcount.
Yohei Yagi, Country Manager, Reeracoen Malaysia, said:
"Malaysian employers continue to hire for critical roles, but hiring decisions are becoming more focused and aligned with longer-term business priorities. Companies that strengthen operational efficiency while continuing to invest in the capabilities they need for growth will be better positioned to capture opportunities as conditions evolve."
Investment follows a similar pattern with 16% of Malaysian businesses increasing investment and 46% maintaining current levels as they concentrate resources on operational priorities and sustainable growth.
Domestic market takes centre stage
Malaysia stands apart from its ASEAN peers in where businesses see their next opportunities. Three in four Malaysian businesses (75%) identify the domestic market as their leading growth opportunity—the highest proportion among the six markets surveyed.
This domestic-first approach comes as businesses contend with higher costs and changing economic conditions. The findings show a market placing greater emphasis on strengthening operations, managing resources carefully and building from opportunities closer to home.
Consumers adjust financial priorities
Malaysian consumers are also adjusting their financial priorities in response to current economic conditions. Among Malaysian consumers surveyed, 88% say they are spending more cautiously, with food prices (64%), fuel and transport costs (46%) and household bills (38%) among the pressures shaping spending decisions.
Financial priorities are also shifting as households respond to current conditions. More than half of the respondents (54%) cite seeking additional income sources, while 41% are saving more.
Collin Leow, Country Director, Malaysia & Thailand, Rakuten Insight, said:
"Malaysia’s findings show a market adapting pragmatically to changing economic conditions. Businesses are placing greater emphasis on domestic opportunities and operational discipline, while consumers are adjusting their spending and financial priorities. Together, these trends point to a more deliberate approach to growth rather than a retreat from opportunity."
Taken together, the findings point to a measured approach to growth, as businesses focus on domestic opportunities, workforce priorities and operational discipline while consumers adjust to continued cost pressures.
For the full six-market findings, including country-by-country profiles and a Leadership Playbook of eight strategic priorities for regional expansion, download The Great Restructuring: ASEAN Consumer & Business Pulse Survey 2026.
Download the report at:
About Reeracoen Group
Reeracoen is a leading Asia-based recruitment and HR solutions group, connecting talent with forward-thinking organisations across the region. With 9 offices across 6 major Asian markets, Reeracoen combines deep local market expertise with cross-border recruitment capabilities to support sustainable business growth.
Beyond recruitment, Reeracoen provides market intelligence, workforce insights, salary research, and employer advisory services, helping organisations make informed talent and business decisions in an evolving regional economy.
Reeracoen’s commitment to service excellence has been recognised through multiple industry awards, including Best Recruitment & Talent Acquisition Agency (2025, 2026), Client Service Excellence Award (2026), Best International Recruitment & Talent Acquisition Agency (2024), and Best Executive Recruitment Agency (2024).
For more information, visit https://www.reeracoen.com.my/.
About Rakuten Insight, Inc.
Rakuten Insight, Inc. is a wholly-owned online market research subsidiary of Rakuten Group, Inc., a global leader in internet services headquartered in Tokyo.
Established in 1997 as AIP Corporation and integrated into the Rakuten Group in 2014, Rakuten Insight operates a research panel focused on 12 major Asian markets and the United States, with a panel network spanning 60 countries and regions.
With offices in 11 countries and regions, the company provides market research for more than 500 leading companies worldwide. Rakuten Insight Singapore serves as a regional hub providing multi-lingual and multi-functional operational support for clients across Southeast Asia.
For more information, visit https://insight.rakuten.com.
Collin Leow, Country Director, Malaysia & Thailand, Rakuten Insight
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