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Abstract : Tourism industry has been considerably emerged to be one of the prominent sectors to the growth of national as well as regional economic status especially for developing countries like Malaysia. The campaign ‘Visit Malaysia Year (VMY) 2007’ was an encouraging move to promote tourism in different states of West and East Malaysia and the scheme was extended up to August 2008. However, the outcome of VMY 2007 might be influenced by Global recession 2008 and therefore, an attempt is made in the present article to study the pre and post impact of VMY 2007 on Malaysia Tourism revenue. In addition, focus is made on the dynamic relationship between the macroeconomic factors and tourism revenue from January 2002 to December 2010 in Malaysia. Further, the pre and post impact of VMY 2007 and Global recession 2008 on the macroeconomic factors influencing the five top tourist-generating countries into Malaysia are studied.