From 2013 to 2022, the domestic tourism expenditure fluctuated significantly, most notably with a steep decline in 2020 due to the COVID-19 pandemic (-50.91%). The recovery commenced in 2021 with a 50.66% increase, followed by a 19.53% rise in 2022, stabilizing at 10.45% in 2023. The last 5 years show a compounded annual growth rate (CAGR) of -1.26%. The forecast indicates a slight downward trend, with a projected CAGR of -0.63% over the next five years, and an overall growth rate of -3.11% by 2028.
Potential factors for future trends include shifts in consumer behavior, evolving health and safety regulations, and economic conditions. Upcoming events such as international sporting tournaments and advancements in virtual/augmented reality experiences may also impact expenditure trends.
