PublicInvest Research said in its recent report that it expects China to contribute to the recovery of the global tourism industry, including Malaysia.
It anticipated that tourist arrivals may not surpass the previous peak recorded in 2019 until at least the first half of 2024. Consequently, this development is poised to provide crucial support to Malaysia's domestic demand, said the research house. "The Chinese are not only important in terms of tourist numbers to Malaysia, they are also 'high-value tourists'," it said.
CGS CIMB also sees an upside from a pick-up in Malaysia's tourism sector over the next six to 18 months underpinned by the potential growth of Chinese tourists in its recent report.
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