Kuala Lumpur, Feb 3 (IANS): The effect of stronger tourism activity due to the resumption of China’s outbound travel could boost Malaysia’s gross domestic product (GDP) by at least 1 percentage point, says UOB Global Economics & Market Research on Friday.
The research house’s economists Julia Goh and Loke Siew Ting said in a report that the boost will further support their baseline GDP growth forecast for Malaysia of 4 per cent for 2023, Xinhua news agency reported.
“The uplift will come through further recovery in tourist arrivals, resumption of China outbound traveling, and sustained domestic tourism demand,” they said.
According to the economists, the global tourism sector is expected to make a big leap forward this year as China has reopened its borders and eased domestic restrictions since Jan 8, 2023.
The World Tourism Organization projected that international tourist arrivals could reach 80 per cent to 95 per cent of pre-pandemic levels in 2023 (versus 63 per cent in…
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