The economic worth of tourism to the south-east Asia region is expected to grow by nearly 21% this year, according to the World Travel & Tourism Council (WTTC).
Tourism is expected to contribute almost 10% to the region’s economy, which would be well ahead of the 2019 peak.
The WTTC is forecasting that Travel & Tourism across the region will continue to grow over the next decade with GDP contribution set to reach MYR2.95TN. Jobs are forecast to exceed 56.5 million, creating more than 14 million new jobs.
As well as the region as a whole, the WTTC has also predicted a huge year of growth for Malaysia’s tourism industry – with economic contribution, employment, and domestic visitor spending all set to hit new records.
Julia Simpson, WTTC President & CEO, said: “The growth in Malaysia’s Travel & Tourism sector highlights the government’s commitment to making tourism a cornerstone of economic development.
“This focus not only drives economic progress but also enhances Malaysia’s standing as a top travel destination.”
