Tourism employment in the retail trade sector in Malaysia has shown a steady upward trend over the past decade, with an observed workforce increase from 951,000 persons in 2013 to 1,260,000 persons by 2023. The year-on-year variation in 2023 stood at 2.72%. The compound annual growth rate (CAGR) over the last five years is 1.88%. Notably, the sector suffered a brief decline in 2017 and 2020, attributed to external factors likely linked to economic downturns or market disruptions.
Future trends to watch for include the steadily predicted growth through 2028, with an anticipated 9.13% overall increase and a 5-year forecasted CAGR of 1.76%. The impact of evolving retail technologies and global economic conditions will be significant in shaping employment in this sector.
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