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Boston, MA -- (SBWIRE) -- 02/05/2014 -- BMI's Malaysia tourism report examines the enormous long term potential for growth offered by this expanding market in the Asia Pacific region. Tourism in the country receives a great deal of support from the government, both through effective marketing campaigns and extensive infrastructure investment programmes. As such the country is well placed to take advantage of the growth we expect to see in inbound and outbound travel throughout our forecast period to 2017.
While inbound arrivals to Malaysia stuttered slightly in 2011, with just 0.56% growth in 2011 as many major source markets were affected by the global credit crunch, from 2013 onwards we expect to see substantial growth in the number of visitors arriving in the country. The majority will come from the Asia Pacific region, and by 2017 we expect annual arrivals to reach over 32.2mn.
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Outbound travel is even more impressive, with year on year growth of between 5% and 8% expected each year between 2013 and 2017. This growth is predicated on the continuing expansion of the Malaysian domestic economy, and should the expected growth materialise we should see the number of outbound travellers reach 12.9mn in 2017. Although this is just a third of the inbound arrivals figure, it still offers enormous potential for growth.
The tourism market in Malaysia benefits from impressive support from the government, with expansion on the industry made a priority, as demonstrated by the stated intension of attracting 36mn visitors per year by 2020. In order to support this growth the Malaysian transport network will need to undergo extensive expansion, particularly in terms of domestic air travel connections between the two main parts of the country separated by the South China Sea. The country is a natural hub for low-cost air travel in the Asia Pacific area and improvement of the country's air transport facilities will enable Malaysia to take advantage of the potential for growth in regional travel.
With a stable, democratic political environment, and solid GDP growth expected, Malaysia offers developers a positive investment environment, a prospect not lost on many of the top global hotel chains who are planning new hotels in the country in the next few years.
- We expect to see an overall increase in the number of hotels in the country, rising to 3000 properties in 2017.
- 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 12.9mn per year by 2017.
- Inbound arrivals are also expected to increase, with annual arrivals forecast to reach over 32.2mn by 2017.
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