Malaysia's tourism industry grows 10.3 per cent in 2023
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Malaysia's tourism industry grew 10.3 per cent year on year to 275.8 billion ringgit (63.65 billion US dollars) in 2023, official data showed Thursday.
The Department of Statistics Malaysia (DOSM) said in a statement that the growth was supported by all economic activities especially retail trade, country-specific tourism services, food and beverage serving services.
Nevertheless, activity economy namely accommodation services, cultural, sports and recreational services as well as travel agencies and other reservation services still remained below the 2019 pre-pandemic levels, Xinhua news agency reported.
According to the statement, the tourism industry contributed a share of 15.1 per cent to Malaysia's gross domestic product in 2023.
"The favourable performance of Malaysia's tourism industry in 2023 was influenced by stronger demand from internal tourism expenditure which consists of inbound and domestic expenditure," it said.
