New Consumer Goods research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 08/06/2013 -- The tourism market in Malaysia offers enormous long term investment potential, and we expect to see good growth across all key market indicators. Inbound travel will be boosted by the growth of economies within the Asia Pacific region, with burgeoning middle classes in emerging market, particularly in China and India driving growth. At the same time improvements in the domestic economy will see outbound travel increasing throughout the forecast period.
Inbound travel saw only minimal growth in 2011 of just 0.56% as the global credit crunch impacted on long haul travel from key markets in Europe and North America. Growth recovered in 2012 and is expected to continue to increase throughout the remainder of forecast period, based largely on the strength of the economies of various countries within the Asia Pacific region. By 2017 we therefore expect inbound arrivals to reach over 32mn per year.
View Full Report Details and Table of Contents
Outbound travel saw exceptionally strong growth in 2010 of over 18%, and while the growth rate has declined it has stabilised to a still impressive rate of between 5.1% and 7.9% per year between 2013 and 2017, reflecting the increasing strength of Malaysia's domestic economy and the growing propensity for outbound travel.
The Malaysian tourism market benefits from substantial support from the government which continues to invest in the expansion of the tourism industry through ambitious plans to attract 36mn visitors per year by 2020. In order to facilitate growth the country will need to improve its domestic transport infrastructure, with a particular focus on domestic air travel between the two main parts of the country separated by the South China Sea. Its location in the heart of the Asia Pacific region makes Malaysia a natural hub for lowcost air travel in the area and improvement of the country's air transport facilities will enable this growth to take place.
Malaysia is a strong and stable democracy and our forecast for strong GDP growth makes it a viable prospect for long term investment in the tourism sector, with its range of attractions likely to continue to entice travellers in future years.
- Malaysia continues to attract the world's top 10 hotel groups, with many planning on expanding their presence in the country.
- A new low-cost carrier terminal at Kuala Lumpur International Airport is in development 2013 and an expected US$50.63bn is due to be invested in the rail network as part of a range of infrastructure investment projects.
- Outbound travel is expected to steadily increase throughout the forecast period, reaching an estimated 13.2mn per year by 2017.
- Inbound arrivals are also expected to increase, with annual arrivals forecast to reach over 32mn by 2017, a slight reduction on previously forecasted figures.
- This quarter BMI has given Malaysia an overall Tourism Industry Risk/Reward rating of 58, putting it ahead of Sri Lanka but behind Vietnam.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Consumer Goods research reports at Fast Market Research
You may also be interested in these related reports:
- Kenya Tourism Report Q3 2013
- Thailand Tourism Report Q3 2013
- Chile Tourism Report Q3 2013
- United States Tourism Report Q3 2013
- Brazil Tourism Report Q3 2013
- Japan Tourism Report Q3 2013
- India Tourism Report Q3 2013
- China Tourism Report Q3 2013
- Mexico Tourism Report Q3 2013
- Costa Rica Tourism Report Q3 2013