Forecast: Tourism Supply of Travel Agencies and Other Reservation Services in Malaysia

The supply of travel agencies and other reservation services in Malaysia has exhibited considerable growth over the past decade. Beginning in 2013, the market valued at 4.33 billion Malaysian Ringgits saw steady increases, peaking at 6.91 billion in 2019. However, the COVID-19 pandemic caused a significant downturn in 2020, with the market dipping to 3.44 billion. A robust recovery followed, with values rebounding to 6.68 billion in 2022 and reaching 7.67 billion in 2023. Year-on-year growth has been substantial in recent years: 24.33% in 2022 and 14.87% in 2023.

Looking ahead to the forecast period through 2028, the supply of travel agencies and other reservation services is expected to continue its upward trend, reaching 8.85 billion Malaysian Ringgits by 2028. The Compound Annual Growth Rate (CAGR) over the next five years is anticipated to be 2.26%, indicating a steady growth trajectory.

Future trends to watch include:

• Increased digital transformation and adoption of online reservation platforms

• Growing interest in eco-tourism and sustainable travel options

• The influence of emerging travel patterns and preferences post-pandemic

• Development in regional tourism infrastructure and connectivity