Malaysia's Tourism Receipts Plunge 71.2 Pct To 12.51 Bln USD
Muhammad Irfan 1 month ago Thu 23rd September 2021 | 01:42 PM
Malaysia's tourism receipts in 2020 slumped 71.2 percent to 52.4 billion ringgit (about 12.51 billion U.S. dollars) from a year ago, as the COVID-19 pandemic dragged the tourism industry, official data showed Thursday
KUALA LUMPUR, Sept. 23 (APP - UrduPoint / Pakistan Point News - 23rd Sep, 2021 ) :Malaysia's tourism receipts in 2020 slumped 71.2 percent to 52.4 billion Ringgit (about 12.51 billion U.S. Dollars) from a year ago, as the COVID-19 pandemic dragged the tourism industry, official data showed Thursday.
According to DOSM, the inbound tourism expenditure plummeted 84.6 percent year on year to only 13.7 billion ringgit in 2020; domestic tourism receipts also declined by 58.3 percent year on year to 38.
6 billion ringgit.
The impact of the COVID-19 pandemic is also reflected in the tourism direct gross domestic product, which has declined by 72 percent to 28.5 billion ringgit as compared to 102 billion ringgit in 2019.
DOSM data also showed that the tourism industry had generated 199.4 billion ringgit of gross value added of tourism industry (GVATI) last year by contributing 14.1 percent to Malaysia's gross domestic product.
Due to the government's restriction in economic activities to curb the spread of COVID-19, the GVATI had shrank 17.1 percent year on year from 240.5 billion ringgit in 2019. (1 U.S. Dollar equals 4.19 ringgit)