Analyzing the forecasted outbound tourism expenditure of visitors on passenger transport services in Malaysia, the expected values from 2024 to 2028 show steady growth in billions of Malaysian Ringgits. The expenditure is predicted to rise consistently year-on-year, reaching nearly 20 billion by 2028.
- 2024: 17.19
- 2025: 17.9
- 2026: 18.59
- 2027: 19.28
- 2028: 19.97
The expenditure for 2023 stood at 16.5 billion Malaysian Ringgits. From 2023 to 2024, there is an increase of approximately 4.2%. Over the last two years, the average year-on-year growth rate is around 4.7%. The compound annual growth rate (CAGR) over the five years leading up to 2028 is about 3.3%.
Future trends to watch for include potential changes in global economic conditions, fluctuating fuel prices, the emergence of budget airlines, and the impact of technological advancements in transport communication. These factors could significantly influence outbound tourism expenditure trends.
