The internal tourism consumption of visitors in Malaysia for accommodation services has shown a mix of positive and negative trends over the years. After strong growth in 2013 and 2014, the value dipped in 2015 but gradually recovered until 2019. The COVID-19 pandemic resulted in a dramatic -82.8% decline in 2020, followed by significant rebounds in 2021 and 2022. For 2023, the value stood at 34.36 billion Malaysian Ringgits, marking an increase of 23.62% from the previous year. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) was 3.1%.
Future trends to watch for include:
- Continued recovery and stabilization post-pandemic.
- Expected moderate growth with a forecasted 5-year CAGR of 2.19% from 2024 to 2028.
- Potential impacts of new policies, economic conditions, and global tourism trends on Malaysia's internal tourism market.