Between 2013 and 2023, domestic tourism expenditure in Malaysia experienced significant fluctuations, with notable dips in 2014, 2015, and especially in 2020 due to the COVID-19 pandemic. The expenditure rebounded strongly post-pandemic, with a 24.79% increase in 2023 compared to the previous year, reaching 3.52 billion Malaysian Ringgits. Over the last five years, the compound annual growth rate (CAGR) was 8.18%, indicating robust recovery and growth. Forecasts for 2024 and beyond show continued positive growth, projecting a CAGR of 3.96% and a total expenditure of 4.52 billion by 2028.
Future trends to watch for include technological advancements in tourism services, the impact of sustainable tourism practices, and potential shifts in consumer behavior due to economic and environmental factors. Monitoring these trends will be essential to understand how they may influence domestic tourism expenditure in Malaysia.
