In 2023, the Gross Value Added (GVA) of tourism industries in Malaysia stood at 300 billion Malaysian Ringgits. Forecasted data for the subsequent years show a steady growth in the sector, with the GVA expected to reach 318.53 billion in 2024, 337.67 billion in 2025, 356.62 billion in 2026, 375.39 billion in 2027, and 393.96 billion in 2028. Year-on-year variations indicate a growth rate of 6.0% from 2023 to 2024, 6.0% from 2024 to 2025, 5.6% from 2025 to 2026, 5.3% from 2026 to 2027, and 4.9% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 is approximately 5.6%.
Future trends to watch for include the impact of digital transformation on tourism, the influence of increasing environmental awareness, and the potential growth in niche markets such as eco-tourism and cultural tourism. Additionally, infrastructure developments and policy changes could significantly influence the projected growth rates and overall sector performance.
