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Malaysian travel intermediaries market expected to grow despite challenges

Press release August 28, 2014 Malaysia travel market, tourism market research, travel market research

This report is the result of Timetric's extensive market research covering the travel intermediaries market in Malaysia.

Malaysia is a multi-religious and multi-ethnic country with extensive geographical diversity, tropical forests, spectacular beaches and exotic wildlife. Unsurprisingly, the Malaysia travel market has proven resilient and capable of withstanding challenging economic conditions. In fact, the tourism sector appears to be almost recession-proof as tourists continue to travel there to relax or on business. Furthermore, with the increase in disposable income, even average families can now afford long distance holidays or travel locally.

This report, Malaysia Travel Intermediaries: Market Update, provides detailed data on market growth dynamics for the travel intermediaries market in Malaysia. It also provides data on industry news in Malaysia travel intermediaries market.

Market overview

The growing demand for medical tourism, luxury tourism, eco-tourism, MICE and business tourism has so far fuelled the growth of the overall sector. The active involvement of various trade players along with national policies recognizing the importance of tourism have further ensured the growth of various segments. The recent burst of development in tourist attractions, especially theme parks and shopping malls with travel intermediaries, has highlighted the growth of the sector.

Furthermore, the ability to purchase and book online for tourism products from hotels and flights directly from the travel intermediaries is expected to fuel the online sales growth and shape the future strategies of players. The revenues generated for the travel intermediaries are expected to increase at a rate of 4.76% and reach USD 10.4 billion by 2018.

However, the recent flight mishaps of MH370 and MH18 have severely impacted business. Despite this, the market is expected to recover and continue to record growth till 2018. The growth will be fuelled greatly by the increase in leisure and business travel, promotion of the country and the development of ecommerce.

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Malaysia travel market, tourism market research, travel market research