Forecast: Domestic Tourism Expenditure of Visitors on Accommodation Services in Malaysia

From 2013 to 2019, domestic tourism expenditure on accommodation services in Malaysia exhibited overall steady growth, with minor annual fluctuations. In 2020, there was a sharp decline of 75.79%, attributable to the COVID-19 pandemic. Recovery began in 2021 with a significant 164.74% increase, followed by strong growth in 2022 and 2023. As of 2023, expenditure stood at 9.48 billion Malaysian Ringgits. The 2023 CAGR over the past five years was 3.77%, with a forecasted 5-year CAGR of 2.15%, indicating a modest but steady growth trajectory in subsequent years.

Future trends to watch:

• Potential impacts of evolving global health policies on domestic tourism patterns.
• Implementation of new tourism infrastructure and its effects on accommodation services.
• Changes in consumer travel preferences and spending behavior in the post-pandemic period.