The forecast for domestic tourism expenditure of visitors on passenger transport services in Malaysia shows a decreasing trend from 2024 to 2028. The expenditure is expected to decline from 4.77 billion Malaysian Ringgits in 2024 to 3.39 billion Malaysian Ringgits by 2028. Compared to 2023, the expenditure was 5.12 billion Malaysian Ringgits. The year-on-year percentage variation from 2024 to 2028 indicates a consistent decline in expenditure:
- 2025 vs. 2024: -7.34%
- 2026 vs. 2025: -7.92%
- 2027 vs. 2026: -8.39%
- 2028 vs. 2027: -9.12%
Over the last two years (2023-2025), there's been approximately a 13.72% contraction. The Compound Annual Growth Rate (CAGR) over the forecasted period (2024-2028) is -8.10%, indicating a shrinking market for passenger transport services in Malaysia's domestic tourism sector.
Future trends to watch for include shifts in consumer travel preferences, impacts of technological advancements in transport, and possible economic fluctuations which could either exacerbate or mitigate the current declining trend in expenditure.
