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01:23
Chinese visitor arrivals, expenditure foreseen to rise for Malaysia
STORY: Chinese visitor arrivals, expenditure foreseen to rise for Malaysia
SHOOTING TIME: File
DATELINE: Oct. 24, 2024
LENGTH: 0:01:23
LOCATION: Kuala Lumpur
CATEGORY: ECONOMY
SHOTLIST:
1. various of Malaysia
STORYLINE:
A Malaysian research house has seen Malaysia as a big winner in the race for Chinese tourists, with Chinese visitor arrivals to surge to 5 million, and Chinese tourism expenditure to surge to more than 30 billion ringgit (6.97 billion U.S. dollars) next year.
Maybank Investment said in a note on Friday that its channel checks reveal that the recent summer holidays saw Chinese visitor arrivals exceeding even pre-pandemic levels.
"We estimate that Chinese visitor arrivals may surge to 5 million in 2025 (60 percent more than 2019) and Chinese tourism expenditure may also surge to more than 30 billion ringgit (two times of 2019)," the research house said.
According to the research house, Malaysia and Singapore have emerged as winners in the post-pandemic race for Chinese visitors, thanks in large part to the waiver of visa requirements for Chinese visitors.
According to Maybank Investment, Chinese visitors to Malaysia are actually spending more vis-a-vis pre-pandemic times.
It noted that in the second half of 2024, the average tourism expenditure per Chinese visitor was 27 percent higher than in 2019.
"Coupled with the potentially 60 percent more Chinese visitors in 2025, Chinese tourism expenditure in Malaysia could double to more than 30 billion ringgit in 2025 vis-a-vis 2019," it said.
Xinhua News Agency correspondents reporting from Kuala Lumpur.
(XHTV)
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