The forecasted inbound tourism expenditure of tourists on passenger transport services in Malaysia is expected to see a steady annual increase from 2024 to 2028. Starting at 18.77 billion Malaysian Ringgits in 2024, the expenditure is projected to grow incrementally, reaching 21.87 billion in 2028. The year-on-year growth rate is approximately 4-4.5%, indicating a consistent upward trend. For context, in 2023, this expenditure stood at 18.04 billion Malaysian Ringgits, demonstrating a gradual recovery and growth over the past two years. The compound annual growth rate (CAGR) over the five years from 2023 to 2028 is expected to be around 4.5%.
Future trends to watch for include the impact of global economic conditions, shifts in travel preferences such as increased demand for sustainable and eco-friendly transport options, and advancements in regional connectivity and infrastructure improvements. Additionally, the recovery pace of the global tourism industry post-pandemic and the stability of geopolitical factors will play significant roles in influencing inbound tourism expenditure trends.
