The inbound tourism expenditure of visitors on passenger transport services in Malaysia stood at 18.64 billion Malaysian Ringgits in 2023. With forecasted values being 19.41 billion Malaysian Ringgits in 2024, 20.21 billion in 2025, 21.01 billion in 2026, 21.79 billion in 2027, and 22.57 billion in 2028, the sector is projected to experience a steady year-on-year growth of approximately 4-4.5%.
Key variations over the last two years:
- 2023 to 2024: 4.1%
- 2024 to 2025: 4.1%
- 2025 to 2026: 4.0%
- 2026 to 2027: 3.7%
- 2027 to 2028: 3.6%
The compound annual growth rate (CAGR) from 2023 to 2028 is approximately 4.1%, indicating a consistent upward trend.
Future trends to watch for include potential impacts from global economic conditions, shifts in travel patterns due to evolving tourism preferences, and technological advancements in transport services. Additionally, the sustainability initiatives and infrastructural developments in Malaysia are likely to influence future tourism expenditure significantly.
