In Malaysia, the forecast for domestic tourism expenditure on passenger transport services shows a steady decline from 2024 to 2028. The figures are expected to decrease from 4.53 billion Malaysian Ringgits in 2024 to 3.56 billion Malaysian Ringgits in 2028. This represents a year-on-year decline of approximately -5.30% in 2025, -5.83% in 2026, -5.94% in 2027, and -6.32% in 2028. Compared to 2023, where the expenditure stood at 4.76 billion Malaysian Ringgits, the compounded annual growth rate (CAGR) over the next five years is -6.70%.
Future trends to watch for include:
- Potential governmental policies to reinvigorate domestic tourism.
- Shifts in consumer behavior towards local travel preferences.
- Economic factors impacting disposable income and inflation rates.
- Technological advancements in passenger transport services.
