In the early days the only way to the top of hill was to travel on foot or horseback, or be carried on a dooly (sedan chair). The first attempt at a mountain railway on Penang Hill began in 1897 but it proved unsuccessful; it was built between 1901 and 1905 but had technical faults. The Straits government then organised a new project to construct the Penang Hill Funicular Railway at a cost of 1.5 million Straits dollars. The railway was first opened to the public on 21 October 1923 and officially opened on 1 January 1924. The funicular railway led to a sharp increase in residential development as it became a location for the building of holiday villas and bungalows by Europeans and wealthy local Chinese "towkays" alike. It also led to its development into a major tourist destination in Penang. It received well over a million visitors a year by 2012.