Forecast: Domestic Tourism Expenditure of Tourists in Malaysia

The domestic tourism expenditure in Malaysia saw a significant upward trend from 2013 to 2019, growing from 29.65 billion to 58.59 billion Malaysian Ringgits. A sharp decline occurred in 2020, with expenditure plummeting by 62.66% due to the COVID-19 pandemic. The market showed resilience with a near doubling in 2021 and continued growth in 2022 and 2023. The expenditure stood at 71.78 billion in 2023, a 21.72% year-on-year increase. Predictive data from 2024 onwards suggests a steady growth with a 4.08% 5-year CAGR, reaching 92.92 billion by 2028.

Future trends to watch for:

• Impact of post-pandemic travel behavior
• Government policies and initiatives to boost domestic tourism
• Technological advancements in travel and tourism services
• Global economic conditions and their impact on domestic spending
• Environmental and sustainable tourism practices