The domestic tourism expenditure of excursionists in Malaysia is projected to grow steadily over the next few years. In 2023, the expenditure stood at 39.87 billion Malaysian Ringgits. This is expected to rise to 41.66 billion in 2024, marking a 4.5% year-on-year increase. The subsequent annual growth rates are forecasted at 4.5% for 2025, 4.2% for 2026, 4.0% for 2027, and 3.8% for 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is estimated to be approximately 4.3%.
Future trends to watch for include shifts in consumer preferences towards sustainable and experiential travel, which could influence spending patterns. Additionally, technological advancements in travel and tourism services, coupled with targeted marketing efforts, may further impact domestic tourism expenditure positively.
