In 2023, the outbound tourism expenditure of visitors in Malaysia stood at a significant level. From 2024 onwards, the projected annual increases in expenditure are notable: 52.12 billion MYR in 2024, increasing to 54.39 billion MYR in 2025, 56.63 billion MYR in 2026, 58.86 billion MYR in 2027, and reaching 61.06 billion MYR by 2028. Each subsequent year shows consistent year-on-year growth, reflecting a strong upward trend in outbound tourism expenditure.
When analyzing the year-on-year variations from 2024 to 2028, the average growth rate remains robust. Specifically, from 2024 to 2025 there is a rise of approximately 4.35%, from 2025 to 2026 an increase of about 4.11%, from 2026 to 2027 a growth of roughly 3.94%, and from 2027 to 2028 an upsurge of close to 3.74%. The compound annual growth rate (CAGR) over these five years approximates to 4.03%.
Future trends to watch for:
- Changes in global economic conditions impacting disposable income and travel budgets.
- Technological advancements that may affect travel behaviors and expenditures.
- Geopolitical shifts influencing destination popularity and safety perceptions.
- The influence of sustainable tourism practices on travel decisions and spending.
