Forecast: Inbound Tourism Expenditure of Visitors on Accommodation Services in Malaysia

The inbound tourism expenditure on accommodation services in Malaysia stood at 23.52 billion Malaysian Ringgits in 2023. An analysis of the yearly changes reveals significant variation over the past decade. The early years showed fluctuating growth, with a notable decline in 2015 (-19.07%). The years between 2013-2019 generally saw modest growth, with a sharp decline in 2020 by -85.55% due to the pandemic, followed by a robust recovery phase in 2021 (305.7%) and 2022 (48.02%). In 2023, expenditure increased by 23.2% from the previous year.

The five-year CAGR from 2023 to 2028 is forecasted to be 1.52%, indicating a steady upward trend in inbound tourism expenditure on accommodation services. Forecasted values show a consistent increase through to 2028, reaching 25.89 billion Malaysian Ringgits.

Future trends to watch for:

• Continued recovery and growth post-pandemic, driven by increased international travel.
• Potential impact of geopolitical and economic factors on tourism expenditure.
• Trends in eco-tourism and sustainable accommodation offerings.