Forecast: Tourism Employment in Travel Agencies and Other Reservation Services in Malaysia

Tourism employment in travel agencies and other reservation services in Malaysia exhibited fluctuating trends from 2013 to 2023, reflecting economic conditions and industry disruptions. In 2023, the employment value stood at 43,000 persons, and the average variation per year over the last five years (CAGR) was 2.13%. The industry faced notable declines during 2015 and 2020, with significant year-on-year variations of -11.62% and -16.22% respectively, indicative of challenges in the global tourism sector. However, subsequent recovery was seen with steady growth from 2021 onwards.

The forecast indicates consistent employment growth, with projections reaching 48,400 persons by 2028, driven by an anticipated 1.88% average annual growth rate over the next five years or 9.75% cumulative growth. This suggests gradual yet sustained industry recovery and expansion.

Future trends to watch for include technological advancements in travel facilitation, evolving traveler preferences, and the impact of global economic fluctuations on tourism demand. Keeping an eye on these factors will provide valuable insights for strategic planning and investment in Malaysia's tourism employment sector.