New Consumer Goods market report from Business Monitor International: "Malaysia Tourism Report Q1 2013"
Boston, MA -- (SBWIRE) -- 02/28/2013 -- The Malaysia Tourism Report examines the strong long-term potential being offered by the country's tourism industry, bolstered by fast-rising demand from emerging markets such as China, Russia and Saudi Arabia. However, we caution that demand from traditional source markets, notably Thailand, Australia and Singapore, could well fall during H212, following a change in the methodology used to record tourist arrivals by Malaysia's Immigration Department.
The report also analyses the growth and risk management strategies being employed by some of the leading players in the local tourism sector, such as airlines, gaming companies and hotel chains, as they seek to maximise the tremendous growth opportunities being offered by the Malaysian market.
View Full Report Details and Table of Contents
Tourist arrivals to Malaysia over the first half of 2012 stood at 11,632,478, an increase of 2.4% year-onyear (y-o-y). This would imply some downside risks to BMI's current forecasts of 25.9mn arrivals for the full year. We choose to await the release of Q312 data to see whether any downwards revisions to BMI's current forecasts become necessary; however, this data had not been released by Tourism Malaysia as of late November 2012, when this report was being compiled.
Overall, ASEAN continues to be the most significant contributor of tourists to Malaysia, accounting for some 73.8% of total arrivals, according to Tourism Malaysia. Strong growth was seen in H112 arrivals from The Philippines (up 45.3% y-o-y), China (34.2% y-o-y), Japan (up 32.5%) and Indonesia (up 20%).
Beyond 2012, BMI believes the government's target of attracting 36mn tourist arrivals by 2020 is achievable based on current trends. BMI remains positive about the long-term outlook for Malaysian tourism, which continues to benefit from strong government support and a relatively secure and stable political situation. The country offers a range of tourism options, from meetings, incentives, conferencing and exhibitions (MICE) travel to beach holidays, and the government is committed to supporting an industry that is an important generator of foreign exchange.
Over the last quarter, BMI has revised the following forecasts and views:
- BMI has extended its forecasts out to 2017. We remain highly positive on the outlook for Malaysian tourism, currently targeting a 28.7% increase in tourist arrivals, to 33.4mn, and a 51.7% increase in tourism receipts, to US$33.9bn.
- BMI believes that the outlook remains bright for Malaysia's leading low-cost airline Air Asia, following the release of highly-positive Q312 financial information. These showed a 14% increase in revenues y-o-y, to MYR1.24bn, with a 4% increase in net profit, to MYR157.81mn. Further information on Air Asia (including Company SWOTs) can be found in the Company Profiles section of this report.
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:
- Hungary Tourism Report Q1 2013
- Australia Tourism Report Q1 2013
- Greece Tourism Report Q1 2013
- Croatia Tourism Report Q1 2013
- Singapore Tourism Report Q1 2013
- Romania Tourism Report Q1 2013
- China Tourism Report Q1 2013
- United Arab Emirates Tourism Report Q1 2013
- Costa Rica Tourism Report Q1 2013
- Thailand Tourism Report Q1 2013
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)