Market Reports Center One Stop Market Reaserch Shop
Malaysia Travel and Tourism Industry 2016 Market Share, Size, Trends, Growth, Analysis, Outlook and Overview Research Report
Summary International arrivals to Malaysia declined in 2015, largely due to the airline disasters that took place in 2014 (Malaysian flight MH370 disappeared in March and flight MH17 was shot down on July 17). However, the market is expected to recover and grow by 2% in 2016, driven by the depreciating Malaysian currency. Browse Detail Report With TOC @ https://marketreportscenter.com/reports/296430/travel-and-tourism-in-malaysia-to-2020 Key Findings - In 2015, Malaysia's tourism sector saw one of the worst downturns for two decades. Incidents that took place in the airline industry in 2014 were one of the key reasons for this decrease. International arrivals fell by -6% in 2015 and trips from Singapore, Malaysia's largest source market, which accounts for 50% share of total inbound trips, plunged by -8%. Arrivals from Singapore were effected due to floods, which also impacted arrivals from Thailand, Brunei, and Indonesia, who travel by road, in the first quarter, and the South East Asian haze from late August to October end. A strong Singapore dollar and the availability of more holiday destination choices (such as Japan) also caused a contraction in Singapore arrivals to Malaysia. Domestic trips totaled 77.3 million in 2015 and outbound trips stood at 11.4 million. Canadean expects inbound trips to recover in 2016, fueled by weak Malaysian currency and the Malaysian tourism board's promotional efforts. Over the forecast period (2016-2020), inbound trips are projected to grow at a CAGR of 4.1% while domestic trips and international departures are expected at 6.4% and 6.2% respectively