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The Authority on World Travel & Tourism

Travel
& Tourism Economic Impact 2015 Malaysia

For more information, please contact:

Rochelle Turner
Head of Research rochelle.turner@wttc.org ©2015 World Travel & Tourism Council

Foreword

The World Travel & Tourism Council (WTTC) is the global authority on the economic and social contribution of Travel & Tourism. WTTC promotes sustainable growth for the sector, working with governments and international institutions to create jobs, to drive exports and to generate prosperity.
Travel & Tourism’s impact on the economic and social development of a country can be enormous; opening it up for business, trade and capital investment, creating jobs and entrepreneurialism for the workforce and protecting heritage and cultural values. To fully understand its impact, however, governments, policy makers and businesses around the world require accurate and reliable data on the impact of the sector. Data is needed to help assess policies that govern future industry development and to provide knowledge to help guide successful and sustainable Travel & Tourism investment decisions.
For 25 years, WTTC has been quantifying the economic impact of Travel & Tourism. This year, the 2015
Annual Economic Reports cover 184 countries and 25 regions of the world, including, for the first time, the Pacific Alliance.
Travel & Tourism generated US$7.6 trillion (10% of global GDP) and 277 million jobs (1 in 11 jobs) for the global economy in 2014. Recent years have seen Travel & Tourism growing at a faster rate than both the wider economy and other significant sectors such as automotive, financial services and health care. Last year was no exception. International tourist arrivals also surged, reaching nearly 1.14billion and visitor spending more than matched that growth. Visitors from emerging economies now represent a 46% share of these international arrivals (up from 38% in 2000), proving the growth and increased opportunities for travel from those in these new markets.
The sector faces challenges every year and this year is likely to be no different. The weakness and potential volatility of many currencies against the US dollar and a deep recession in Russia, a key outbound market, will slow outbound spending in line with slower world trade overall in 2015. However, falling oil prices will bring significant improvements for net oil importers in 2015, easing upward pressure on living costs, increasing disposable household incomes and domestic consumer spending, and lowering air fares. As a result, Travel &
Tourism expansion is forecast to continue at a stronger rate than last year, with the total contribution to GDP expected to increase by 3.7%. New destinations and investment opportunities will also continue to emerge as tourism becomes increasingly affordable across the developing world. This growth will require countries to adopt a concerted and coordinated approach to talent planning and development between their industry, governments and educational institutions to ensure they fulfil their potential in the years ahead.
WTTC is proud to continue to provide this clear and empirical data in order to help both public and private bodies make the right decisions for the future growth of a sustainable Travel & Tourism sector.

David Scowsill
President & CEO
WTTC

WTTC Travel & Tourism Economic Impact 2015

Contents
The Economic Impact of Travel & Tourism 2015
Foreword
2015 Annual Research: Key Facts................................................1
Defining the Economic Contribution of Travel & Tourism..............2
Travel & Tourism’s Contribution to GDP........................................3
Travel & Tourism’s Contribution to Employment...........................4
Visitor Exports and Investment.....................................................5
Different Components of Travel & Tourism....................................6
Country Rankings: Absolute Contribution, 2014...........................7
Country Rankings: Relative Contribution, 2014............................8
Country Rankings: Real Growth, 2015..........................................9
Country Rankings: Long Term Growth, 2015-2025.....................10
Summary Tables: Estimates & Forecasts....................................11
The Economic Contribution of Travel & Tourism:
Real 2014 Prices.........................................................................12
The Economic Contribution of Travel & Tourism:
Nominal Prices............................................................................13
The Economic Contribution of Travel & Tourism: Growth...........14
Glossary......................................................................................15
Methodological Note...................................................................16
Regions, Sub-regions, Countries................................................17

Use of Material is Authorised, Provided Source is Acknowledged
Harlequin Building, 65 Southwark Street, London, SE1 0HR, UK Tel: +44 (0)20 7481 8007 Email: enquiries@wttc.org www.wttc.org

Malaysia
2015 ANNUAL RESEARCH: KEY FACTS

1

2015 forecast GDP: DIRECT CONTRIBUTION
The direct contribution of Travel & Tourism to GDP was MYR61.0bn (5.7% of total GDP) in 2014, and is forecast to rise by 5.6% in 2015, and to rise by 4.1% pa, from 2015-2025, to MYR95.9bn
(5.8% of total GDP) in 2025.

GDP: TOTAL CONTRIBUTION
The total contribution of Travel & Tourism to GDP was MYR161.0bn (14.9% of GDP) in 2014, and is forecast to rise by 5.3% in 2015, and to rise by 4.5% pa to MYR262.2bn (15.8% of GDP) in 2025.

EMPLOYMENT: DIRECT CONTRIBUTION
In 2014 Travel & Tourism directly supported 724,500 jobs (5.3% of total employment). This is expected to rise by 3.5% in 2015 and rise by 2.9% pa to 993,000 jobs (5.7% of total employment) in 2025.

EMPLOYMENT: TOTAL CONTRIBUTION
In 2014, the total contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry, was 13.0% of total employment (1,770,000 jobs). This is expected to rise by 3.1% in 2015 to 1,824,000 jobs and rise by 3.2% pa to 2,489,000 jobs in 2025 (14.4% of total). VISITOR EXPORTS
Visitor exports generated MYR74.0bn (8.6% of total exports) in 2014. This is forecast to grow by
5.8% in 2015, and grow by 3.5% pa, from 2015-2025, to MYR110.5bn in 2025 (8.7% of total).

INVESTMENT
Travel & Tourism investment in 2014 was MYR19.4bn, or 6.8% of total investment. It should rise by 5.3% in 2015, and rise by 6.3% pa over the next ten years to MYR37.7bn in 2025 (8.6% of total). 1All

values are in constant 2014 prices & exchange rates

WORLD RANKING (OUT OF 184 COUNTRIES):
Relative importance of Travel & Tourism's total contribution to GDP

26

50

39

73

ABSOLUTE

RELATIVE SIZE

GROWTH

LONG-TERM GROWTH

Size in 2014

Contribution to GDP in 2014

2015 forecast

Forecast 2015-2025

Total Contribution of
Travel & Tourism to GDP

Breakdown of Travel & Tourism's Total
Contribution to GDP and Employment 2014

2014 MYRbn
2014 MYRbn

GDP (2014 MYRbn)

300

26

250

150

Employment
('000)

74

200

61

100

724
717

50

328

Direct

Indirect

Induced

2025
2025

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

0

= Total contribution of Travel & Tourism
WTTC Travel & Tourism Economic Impact 2015

1

Defining the economic contribution of Travel & Tourism
Travel & Tourism is an important economic activity in most countries around the world. As well as its direct economic impact, the sector has significant indirect and induced impacts. The UN Statistics Division-approved Tourism Satellite
Accounting methodology (TSA:RMF 2008) quantifies only the direct contribution of Travel & Tourism. WTTC recognises that Travel & Tourism's total contribution is much greater however, and aims to capture its indirect and induced impacts through its annual research.

DIRECT CONTRIBUTION
The direct contribution of Travel & Tourism to GDP reflects the ‘internal’ spending on Travel & Tourism (total spending within a particular country on Travel & Tourism by residents and non-residents for business and leisure purposes) as well as government 'individual' spending - spending by government on Travel & Tourism services directly linked to visitors, such as cultural (eg museums) or recreational (eg national parks).
The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in
National Accounting, of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure and recreation services that deal directly with tourists.The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by ‘netting out’ the purchases made by the different tourism industries. This measure is consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA: RMF 2008).
TOTAL CONTRIBUTION
The total contribution of Travel & Tourism includes its ‘wider impacts’ (ie the indirect and induced impacts) on the economy.
The ‘indirect’ contribution includes the GDP and jobs supported by:
● Travel & Tourism investment spending – an important aspect of both current and future activity that includes investment activity such as the purchase of new aircraft and construction of new hotels;
● Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on behalf of the ‘community at large’ – eg tourism marketing and promotion, aviation, administration, security services, resort area security services, resort area sanitation services, etc;
● Domestic purchases of goods and services by the sectors dealing directly with tourists - including, for example, purchases of food and cleaning services by hotels, of fuel and catering services by airlines, and IT services by travel agents.
The ‘induced’ contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly employed by the Travel & Tourism sector.

2

WTTC Travel & Tourism Economic Impact 2015

Travel & Tourism's contribution to GDP1
The direct contribution of Travel & Tourism to GDP in 2014 was MYR61.0bn (5.7% of GDP). This is forecast to rise by 5.6% to MYR64.4bn in 2015.This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation services (excluding commuter services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported
The direct contribution of Travel & Tourism to GDP is expected to grow by 4.1% pa to MYR95.9bn (5.8% of GDP) by
2025.

MALAYSIA: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO GDP
Constant 2014 MYRbn

% of whole economy GDP
8.0

120

7.0

100

6.0

80

5.0
4.0

60

3.0

40

2.0

20

1.0

0

2025
2025

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2025
2025

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

0.0

The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and induced income impacts, see page 2) was MYR161.0bn in 2014 (14.9% of GDP) and is expected to grow by
5.3% to MYR169.5bn (15.0% of GDP) in 2015.
It is forecast to rise by 4.5% pa to MYR262.2bn by 2025 (15.8% of GDP).
MALAYSIA: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO GDP
% of whole economy GDP

Constant 2014 MYRbn
300

18.0
16.0

250

14.0
200

12.0
10.0

150

8.0
100

6.0
4.0

50
2.0
0.0

0
2014

Direct
1

Indirect

2015

2014

2025
2025
2025

Induced

Direct

2015

Indirect

2025
2025

Induced

All values are in constant 2014 prices & exchange rates
WTTC Travel & Tourism Economic Impact 2015

3

Travel & Tourism's contribution to employment
Travel & Tourism generated 724,500 jobs directly in 2014 (5.3% of total employment) and this is forecast to grow by 3.5% in 2015 to 749,500 (5.4% of total employment).
This includes employment by hotels, travel agents, airlines and other passenger transportation services
(excluding commuter services). It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.

By 2025, Travel & Tourism will account for 993,000 jobs directly, an increase of 2.9% pa over the next ten years.

MALAYSIA: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT
'000 jobs

% of whole economy employment
8.0

1,200.0

7.0

1,000.0
6.0

800.0

5.0
4.0

600.0

3.0

400.0

2.0

200.0

1.0

The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply chain and induced income impacts, see page 2) was 1,770,000 jobs in 2014 (13.0% of total employment). This is forecast to rise by 3.1% in 2015 to 1,824,000 jobs (13.1% of total employment).
By 2025, Travel & Tourism is forecast to support 2,489,000 jobs (14.4% of total employment), an increase of
3.2% pa over the period.
MALAYSIA: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT
'000 jobs

% of whole economy employment

3,000.0

16.0
14.0

2,500.0

12.0
2,000.0

10.0

1,500.0

8.0
6.0

1,000.0

4.0
500.0

2.0
0.0

0.0
2014

Direct

4

Indirect

2015

Induced

WTTC Travel & Tourism Economic Impact 2015

2025
2025

2014

Direct

2015

Indirect

Induced

2025
2025

2025
2025

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2025
2025

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2005

0.0

0.0

Visitor Exports and Investment1
VISITOR EXPORTS
Money spent by foreign visitors to a country (or visitor exports) is a key component of the direct contribution of
Travel & Tourism. In 2014, Malaysia generated MYR74.0bn in visitor exports.
In 2015, this is expected to grow by 5.8%, and the country is expected to attract 28,935,000 international tourist arrivals. By 2025, international tourist arrivals are forecast to total 43,180,000, generating expenditure of MYR110.5bn, an increase of 3.5% pa.

MALAYSIA: VISITOR EXPORTS AND INTERNATIONAL TOURIST ARRIVALS
Constant 2014 MYRbn

mn

Foreign visitor exports as % of total exports

50

9.0

40

8.0

35
30
25
20

5.0

15
10

2.0

2025
2025

1.0

2025
2025

2015

2014

2013

2012

Foreign visitor exports (LHS)

2011

0.0

2005

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

0

2010

0

3.0

5

20

4.0

2009

40

6.0

2008

60

7.0

2007

80

2006

100

10.0

45

120

Foreign tourist arrivals (RHS)

INVESTMENT
Travel & Tourism is expected to have attracted capital investment of MYR19.4bn in 2014. This is expected to rise by 5.3% in 2015, and rise by 6.3% pa over the next ten years to MYR37.7bn in 2025.
Travel & Tourism’s share of total national investment will rise from 6.9% in 2015 to 8.6% in 2025.
MALAYSIA: CAPITAL INVESTMENT IN TRAVEL & TOURISM
% of whole economy GDP

Constant 2014 MYRbn
40

12.0

35

10.0

30
8.0
25
6.0

20
15

4.0

10
2.0

1

2025
2025

2015

2014

2013

2012

2011

2010

2009

2008

2007

0.0
2006

2025
2025

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

0

2005

5

All values are in constant 2014 prices & exchange rates
WTTC Travel & Tourism Economic Impact 2015

5

Different components of
Travel & Tourism1
Malaysia
Travel & Tourism's Contribution to GDP:

Leisure travel spending (inbound and domestic) generated 48.8% of direct Travel & Tourism GDP in 2014 (MYR62.5bn) compared with 51.2% for business travel spending (MYR65.7bn).

Business vs Leisure, 2014

Leisure spending

48.8%

Leisure travel spending is expected to grow by
1.0% in 2015 to MYR63.2bn, and rise by 2.8% pa to MYR83.3bn in 2025.

Business spending

51.2%

Business travel spending is expected to grow by
10.2% in 2015 to MYR72.4bn, and rise by 5.0% pa to MYR117.9bn in 2025.

Malaysia
Travel & Tourism's Contribution to GDP:
Domestic vs Foreign, 2014

Domestic travel spending generated 42.3% of direct Travel & Tourism GDP in 2014 compared with 57.7% for visitor exports (ie foreign visitor spending or international tourism receipts).

Foreign visitor spending

57.7%
Domestic travel spending is expected to grow by
5.5% in 2015 to MYR57.3bn, and rise by 4.7% pa to MYR90.7bn in 2025.

Domestic spending

42.3%

Visitor exports are expected to grow by 5.8% in
2015 to MYR78.3bn, and rise by 3.5% pa to
MYR110.5bn in 2025.

Malaysia
Breakdown of Travel & Tourism's Total Contribution to GDP, 2014
Direct

37.9%

The Travel & Tourism industry contributes to GDP and employment in many ways as detailed on page 2.

Induced

16.2%

The total contribution of Travel & Tourism to
GDP is its direct contribution.

Indirect

45.9%
Indirect is the sum of:
(a) Supply chain a 36.3%
(b) Investment

c b 8.3%
(c) Government collective
1.3%
1

6

All values are in constant 2014 prices & exchange rates

WTTC Travel & Tourism Economic Impact 2015

Country rankings:
Absolute contribution, 2014
Travel & Tourism's Direct
Contribution to GDP
2 China

2014
(US$bn)
263.0

2014
(US$bn)

Travel & Tourism's Total
Contribution to GDP
2 China

943.1

11 India

40.6

11 Australia

145.7

12 Australia

38.6

12 India

125.2

14 Thailand

31.9

17 Indonesia

79.8

17 Indonesia

27.5

18 Thailand

72.2

Asia Pacific Average

21.7

Asia Pacific Average

World Average

19.4

World Average

67.3
58.3

23 Malaysia

18.6

26 Malaysia

49.2

31 Singapore

14.8

36 Philippines

31.8

36 Philippines

12.0

37 Singapore

30.4

43 Vietnam

8.6

51 Vietnam

17.3

74 Cambodia

2.3

83 Cambodia

5.1

Travel & Tourism's Direct
Contribution to Employment

2014
'000 jobs

1 China

23160.0

Travel & Tourism's Total
Contribution to Employment

2014
'000 jobs

1 China

66086.2
36695.4

2 India

23024.1

2 India

5 Indonesia

3325.8

4 Indonesia

9813.9

8 Thailand

2210.2

7 Thailand

5382.9

Asia Pacific Average
9 Vietnam

2000.0

Asia Pacific Average

4673.9

1963.5

10 Philippines

4231.9

13 Philippines

1259.8

12 Vietnam

4088.6

17 Cambodia

985.4

20 Cambodia

2221.5

World Average

827.0

2076.6

World Average

24 Malaysia

724.3

24 Malaysia

1769.9

32 Australia

504.6

29 Australia

1415.8

68 Singapore

152.7

84 Singapore

302.9

Travel & Tourism
Capital Investment

2014
(US$bn)

2014
(US$bn)

Visitor
Exports

2 China

136.8

4 India

34.5

10 Thailand

40.3

10 Australia

18.4

14 Malaysia

22.6

13 Indonesia

14.1

18 India

20.1

14 Singapore

13.8

20 Singapore

18.9

9.5

21 Australia

Asia Pacific Average

3 China

20 Thailand

7.2

25 Malaysia

5.9

32 Indonesia

32 Vietnam

4.6

39 Vietnam

World Average

4.5

60.8

18.8

Asia Pacific Average

World Average

12.4
11.2
7.8
7.5

53 Philippines

2.1

49 Philippines

5.8

93 Cambodia

0.4

60 Cambodia

3.2

The tables on pages 7-10 provide provide brief extracts from the full WTTC Country League Table Rankings, highlighting comparisons with competing destinations as well as with the world and regional average. Averages in above tables are simple cross-country averages.
The competing destinations selected are those that offer a similar tourism product and compete for tourists from the same set of origin markets.
These tend to be, but are not exclusively, geographical neighbours.
WTTC Travel & Tourism Economic Impact 2015

77

Country rankings:
Relative contribution, 2014
Travel & Tourism's Direct
Contribution to GDP

2014
% share

Travel & Tourism's Total
Contribution to GDP

2014
% share

16 Cambodia

13.5

17 Cambodia

29.9

25 Thailand

8.6

38 Thailand

19.3

48 Malaysia

5.7

50 Malaysia

14.9

58 Singapore

4.9

69 Philippines

11.2

64 Vietnam

4.6

80 Australia

10.1

70 Philippines

4.2

83 Singapore

10.1

99 Indonesia

3.2

World

9.8

World

3.1

93 China

9.4

3.0

94 Indonesia

9.3

118 Australia

2.7

95 Vietnam

9.3

120 China

2.6

138 India

2.2

Asia Pacific

Travel & Tourism's Direct
Contribution to Employment

2014
% share

Asia Pacific
130 India
Travel & Tourism's Total
Contribution to Employment

9.2
6.7
2014
% share

18 Cambodia

11.7

21 Cambodia

26.4

46 Thailand

5.8

51 Thailand

14.1

49 India

5.5

56 Malaysia

13.0

52 Malaysia

5.3

61 Australia

12.2

71 Australia

4.4

72 Philippines

11.1

74 Singapore

4.3

World

9.4

82 Vietnam

3.7

97 India

8.7

Asia Pacific

3.7

99 China

8.6

World

3.6

97 Philippines

3.3

101 Singapore

8.5

109 China

3.0

104 Indonesia

8.4

114 Indonesia

2.9

116 Vietnam

7.7

Travel & Tourism Investment
Contribution to Total Capital Investment

2014
% share

Asia Pacific

Visitor Exports
Contribution to Total Exports

8.5

2014
% share

17 Singapore

18.1

36 Cambodia

32.7

27 Cambodia

15.6

72 Thailand

14.4

45 Vietnam

10.0

88 Malaysia

8.6

63 Thailand

7.4

104 Philippines

6.9

73 Malaysia

6.8

108 Australia

6.4

82 India

6.2

World

88 Indonesia

5.3

117 Indonesia

94 Australia

4.7

Asia Pacific

5.7
5.6
5.2

World

4.3

125 Vietnam

4.8

Asia Pacific

3.7

133 India

4.1

130 Philippines

8

3.6

144 Singapore

3.3

146 China

2.9

159 China

2.4

WTTC Travel & Tourism Economic Impact 2015

Country rankings:
Real growth, 2015
Travel & Tourism's Direct
Contribution to GDP
3 Cambodia

2015
% growth
8.4

2015
% growth

Travel & Tourism's Total
Contribution to GDP
2 Cambodia

8.2

6 Vietnam

7.9

4 Vietnam

8.0

7 India

7.6

9 India

7.5

16 China

6.7

10 China

7.5

26 Indonesia

6.0

12 Indonesia

7.0

37 Malaysia

5.6

5.5

Asia Pacific

5.1

39 Malaysia

5.3

54 Philippines

5.0

47 Philippines

5.0

74 Australia

3.9

57 Singapore

4.7

84 Singapore

3.7

World

3.7

World

3.7

86 Australia

3.5

92 Thailand

3.4

96 Thailand

3.2

Asia Pacific

Travel & Tourism's Direct
Contribution to Employment

2015
% growth

Travel & Tourism's Total
Contribution to Employment

2015
% growth

9 Cambodia

6.0

22 Cambodia

4.5

48 Singapore

3.7

44 Vietnam

3.6

52 Vietnam

3.6

50 Indonesia

3.3

56 Malaysia

3.5

51 China

3.3

76 Philippines

2.6

54 Malaysia

3.1

83 Indonesia

2.3

Asia Pacific

2.8

World

2.0

World

2.6

1.9

69 Philippines

2.5
2.4

103 India

1.8

71 Singapore

122 China

1.2

98 India

147 Thailand

0.2

126 Thailand

1.0

169 Australia

-1.8

165 Australia

-0.9

Travel & Tourism
Investment

2015
% growth

Asia Pacific

Visitor
Exports

1.8

2015
% growth

22 India

9.3

11 Cambodia

8.3

32 China

7.8

22 Vietnam

7.4

41 Vietnam

7.1

40 Malaysia

5.8

6.3

47 Indonesia

5.5

56 Singapore

6.1

56 India

5.2

64 Indonesia

5.7

76 Australia

4.1

65 Cambodia

5.6

91 Thailand

3.3

73 Thailand

5.4

Asia Pacific

Asia Pacific

3.0

76 Malaysia

5.3

World

2.8

World

4.8

108 Singapore

2.6

121 Philippines

3.2

121 China

2.2

168 Australia

0.4

150 Philippines

-0.3

WTTC Travel & Tourism Economic Impact 2015

9 7

Country rankings:
Long term growth, 2015 - 2025
Travel & Tourism's Direct
Contribution to GDP

2015 - 2025
% growth pa

5 India

7.2

Travel & Tourism's Total
Contribution to GDP
4 India

2015 - 2025
% growth pa
7.3

7 Thailand

6.7

13 Cambodia

6.5

11 Vietnam

6.6

15 Thailand

6.4

15 Cambodia

6.3

18 China

6.2

24 China

6.0

19 Vietnam

6.2

34 Philippines

5.6

27 Indonesia

5.9

43 Indonesia

5.3

31 Philippines

Asia Pacific

4.9

Asia Pacific

5.7
5.0

4.1

73 Malaysia

4.5

3.9

World

3.8

138 Australia

3.2

135 Singapore

3.3

172 Singapore

2.4

149 Australia

2.9

101 Malaysia
World

Travel & Tourism's Direct
Contribution to Employment

2015 - 2025
% growth pa

Travel & Tourism's Total
Contribution to Employment

2015 - 2025
% growth pa

7 Cambodia

4.6

10 Thailand

4.1

8 Thailand

4.6

33 China

3.3

52 Malaysia

2.9

34 Cambodia

3.3

64 Philippines

2.6

36 Malaysia

3.2

89 India

2.2

Asia Pacific

2.6

World

2.0

57 Philippines

2.6

Asia Pacific

2.0

World

2.3

112 Vietnam

1.8

87 India

2.0

131 Indonesia

1.4

105 Indonesia

1.8

135 China

1.3

125 Australia

1.4

138 Singapore

1.3

131 Vietnam

1.3

145 Australia

1.0

165 Singapore

0.4

Travel & Tourism Investment
Contribution to Capital Investment

2015 - 2025
% growth pa

Visitor Exports
Contribution to Exports

2015 - 2025
% growth pa

11 Indonesia

7.1

4 Thailand

7.7

14 China

6.6

11 Vietnam

6.8

16 India

6.5

17 Philippines

6.6

19 Cambodia

6.4

22 India

6.3

21 Malaysia

6.3

27 Cambodia

6.0

24 Singapore

6.2

39 China

5.5

26 Vietnam

6.2

40 Indonesia

5.5

32 Thailand

6.0

Asia Pacific

5.7

Asia Pacific

4.7

World

4.2

73 Philippines

4.8

123 Malaysia

3.5

World

4.6

163 Australia

2.4

2.0

178 Singapore

1.7

170 Australia

10

WTTC Travel & Tourism Economic Impact 2015

Summary tables:
Estimates & Forecasts
2014

2014
1

2025

2015

Malaysia

US$mn

% of total

Growth2

US$mn1

% of total

Growth

Direct contribution to GDP

18,637.6

5.7

5.6

29,306.5

5.8

4.1

Total contribution to GDP

49,187.2

14.9

5.3

80,128.3

15.8

4.5

724.3

5.3

3.5

992.9

5.7

2.9

Total contribution to employment

1,769.9

13.0

3.1

2,489.1

14.4

3.2

Visitor exports

22,607.4

8.6

5.8

33,766.0

8.7

3.5

Domestic spending

16,591.9

5.0

5.5

27,713.6

5.5

4.7

Leisure spending

19,111.2

2.7

1.0

25,465.1

2.4

2.8

Business spending

20,088.1

2.9

10.2

36,014.6

3.4

5.0

Capital investment

5,916.3

6.8

5.3

11,521.3

8.6

6.3

4

Direct contribution to employment
4

1

2014 constant prices & exchange rates; 22015 real growth adjusted for inflation (%); 32015-2025 annualised real growth adjusted for inflation (%); 4'000 jobs

2014
1

2014

2015

2025
2

1

US$bn

% of total

Growth

5.1

1,177.1

3.2

9.2

5.5

3,709.7

10.1

5.0

64,001

3.7

1.8

79,075

4.0

2.0

149,566

8.5

2.8

199,583

10.2

2.6

397.8

5.2

3.0

646.9

5.2

4.7

Domestic spending

1,162.7

5.0

5.8

2,000.1

5.5

5.0

Leisure spending

1,206.4

2.2

4.7

2,087.6

2.5

5.2

354.2

0.7

6.6

559.5

0.7

4.0

3.7

6.3

560.2

4.7

5.7

4

Direct contribution to employment
4

Total contribution to employment
Visitor exports

Business spending
Capital investment

Growth

3.0

2,153.9

Total contribution to GDP

% of total

694.1

Direct contribution to GDP

303.5
2

3

4

2014 constant prices & exchange rates; 2015 real growth adjusted for inflation (%); 2015-2025 annualised real growth adjusted for inflation (%); '000 jobs

2014

2014

2015

1

1

% of total

Growth

3.7

3,593.2

3.3

9.8

3.7

11,381.9

10.5

3

3.9
3.8

US$bn

% of total

Growth

Direct contribution to GDP

2,364.8

3.1

Total contribution to GDP

7,580.9

Direct contribution to employment4

2025
2

US$bn

Worldwide

105,408

3.6

2.0

130,694

3.9

2.0

Total contribution to employment

276,845

9.4

2.6

356,911

10.7

2.3

Visitor exports

1,383.8

5.7

2.8

2,140.1

5.6

4.2

Domestic spending

3,642.1

4.7

3.7

5,465.0

5.0

3.8

Leisure spending

3,850.2

2.3

3.3

5,928.8

2.5

4.1

Business spending

1,175.7

0.7

4.0

1,679.0

0.7

3.2

Capital investment

814.4

4.3

4.8

1,336.4

4.9

4.6

4

1

3

4.9

US$bn

Asia Pacific

1

3

2014 constant prices & exchange rates; 22015 real growth adjusted for inflation (%); 32015-2025 annualised real growth adjusted for inflation (%); 4'000 jobs

% of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment. Visitor exports is shown relative to total exports of goods and
Domestic spending is expressed relative to whole economy GDP. For leisure and business spending, their direct contribution to Travel & Tourism GDP is calculated as a share of whole economy GDP (the sum of these shares equals the direct contribution). Investment is relative to whole economy investment.
WTTC Travel & Tourism Economic Impact 2015

11

The economic contribution of
Travel & Tourism: Real 2014 prices
Malaysia
(MYRbn, real 2014 prices)

2009

2010

2011

2012

2013

2014

2015E

2025F

1.

68.5

68.1

65.3

67.1

71.0

74.0

78.3

110.5

26.4

33.7

42.2

47.3

51.3

54.3

57.3

90.7

94.9

101.8

107.5

114.4

122.4

128.3

135.6

201.2

-47.3

-52.3

-56.0

-59.5

-64.1

-67.3

-71.2

-105.3

47.6

49.5

51.5

54.9

58.3

61.0

64.4

95.9

43.9

48.0

50.5

53.9

57.2

59.9

63.2

94.1

2.

Visitor exports
Domestic expenditure
(includes government individual spending)

3.

Internal tourism consumption
(= 1 + 2 )

4.

Purchases by tourism providers, including imported goods
(supply chain)

5.

Direct contribution of
Travel & Tourism to GDP
(= 3 + 4)

Other final impacts
(indirect & induced)
6.

Domestic supply chain

7.

Capital investment

14.2

14.9

14.7

17.0

18.1

19.4

20.4

37.7

8.

Government collective spending

1.6

1.6

1.8

2.0

2.1

2.2

2.3

3.4

9.

Imported goods from indirect spending

-5.3

-6.4

-6.8

-7.0

-7.0

-7.5

-8.1

-11.7

10. Induced

19.6

20.1

21.1

23.0

24.6

26.1

27.3

42.7

11. Total contribution of
Travel & Tourism to GDP

121.6

127.8

132.8

143.8

153.3

161.0

169.5

262.2

611.4

623.9

636.3

659.0

713.3

724.3

749.3

992.9

1,466.7

1,499.7

1,522.9

1,601.3

1,738.7

1,769.9

1,824.1

2,489.1

22.3

26.3

30.4

35.2

37.4

37.3

40.0

78.7

(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)
12. Direct contribution of Travel & Tourism to employment 13.

Total contribution of Travel & Tourism to employment
Other indicators

14. Expenditure on outbound travel

12

WTTC Travel & Tourism Economic Impact 2015

The economic contribution of
Travel & Tourism: Nominal prices
Malaysia
(MYRbn, nominal prices)

2009

2010

2011

2012

2013

2014

2015E

2025F

1.

60.0

62.1

62.9

65.1

68.9

74.0

80.9

154.1

23.1

30.7

40.6

45.9

49.8

54.3

59.2

126.4

83.1

92.9

103.5

111.0

118.7

128.3

140.0

280.5

-41.4

-47.7

-53.9

-57.7

-62.2

-67.3

-73.5

-146.8

41.7

45.1

49.6

53.3

56.5

61.0

66.5

133.7

38.5

43.8

48.7

52.3

55.4

59.9

65.3

131.2

2.

Visitor exports
Domestic expenditure
(includes government individual spending)

3.

Internal tourism consumption
(= 1 + 2 )

4.

Purchases by tourism providers, including imported goods
(supply chain)

5.

Direct contribution of
Travel & Tourism to GDP
(= 3 + 4)

Other final impacts
(indirect & induced)
6.

Domestic supply chain

7.

Capital investment

12.4

13.6

14.2

16.5

17.5

19.4

21.1

52.6

8.

Government collective spending

1.4

1.5

1.8

2.0

2.1

2.2

2.4

4.8

9.

Imported goods from indirect spending

-4.7

-5.8

-6.6

-6.8

-6.8

-7.5

-8.3

-16.2

10. Induced

17.2

18.4

20.3

22.3

23.9

26.1

28.2

59.6

11. Total contribution of
Travel & Tourism to GDP

106.5

116.6

127.9

139.6

148.6

161.0

175.1

365.6

611.4

623.9

636.3

659.0

713.3

724.3

749.3

992.9

1,466.7

1,499.7

1,522.9

1,601.3

1,738.7

1,769.9

1,824.1

2,489.1

19.5

24.0

29.3

34.1

36.3

37.3

41.3

109.7

(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)
12. Direct contribution of Travel & Tourism to employment 13.

Total contribution of Travel & Tourism to employment
Other indicators

14. Expenditure on outbound travel

*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Office of the European Communities (EUROSTAT), the Organisation for Economic Co-operation and Development (OECD) and the World Tourism
Organization (UNWTO).
Historical data for concepts has been benchmarked to match reported TSA data where available.
WTTC Travel & Tourism Economic Impact 2015

13

The economic contribution of
Travel & Tourism: Growth
Malaysia
Growth1 (%)
1.

2.

Visitor exports
Domestic expenditure

2009

2010

2011

2012

2013

2014

2015E

2025F

4.5

-0.6

-4.2

2.9

5.8

4.2

5.8

3.5

34.6

27.6

25.2

12.0

8.6

5.8

5.5

4.7

11.5

7.2

5.6

6.5

7.0

4.8

5.7

4.0

13.3

10.6

6.9

6.3

7.8

5.0

5.7

4.0

9.7

3.9

4.1

6.7

6.1

4.7

5.6

4.1

14.6

9.4

5.2

6.7

6.1

4.7

5.6

4.1

(includes government individual spending)

3.

Internal tourism consumption
(= 1 + 2 )

4.

Purchases by tourism providers, including imported goods
(supply chain)

5.

Direct contribution of
Travel & Tourism to GDP
(= 3 + 4)

Other final impacts
(indirect & induced)
6.

Domestic supply chain

7.

Capital investment

-5.5

5.3

-1.5

15.5

6.4

7.2

5.3

6.3

8.

Government collective spending

12.2

1.0

12.7

10.0

5.4

3.7

3.0

4.2

9.

Imported goods from indirect spending

8.7

11.0

5.8

5.9

4.8

5.2

5.9

4.0

10. Induced

14.5

2.5

4.6

9.0

7.2

5.8

4.6

4.6

11. Total contribution of
Travel & Tourism to GDP

11.2

5.1

3.9

8.3

6.6

5.0

5.3

4.5

12. Direct contribution of Travel & Tourism to employment 14.3

2.0

2.0

3.6

8.2

1.5

3.5

2.9

Total contribution of Travel & Tourism to employment

17.2

2.2

1.5

5.2

8.6

1.8

3.1

3.2

Other indicators

3.2

18.0

15.5

15.7

6.4

-0.4

7.2

7.0

(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

13.

14. Expenditure on outbound travel

1

2009-2014 real annual growth adjusted for inflation (%);

14

WTTC Travel & Tourism Economic Impact 2015

2

2015-2025 annualised real growth adjusted for inflation (%)

2

Glossary
Key Definitions

Indirect and Induced Impacts

Travel & Tourism – relates to the activity of travellers on trips outside their usual environment with a duration of less than one year. Economic activity related to all aspects of such trips is measured within the research.

Indirect contribution – the contribution to GDP and jobs of the following three factors:

Direct contribution to GDP – GDP generated by industries that deal directly with tourists, including hotels, travel agents, airlines and other passenger transport services, as well as the activities of restaurant and leisure industries that deal directly with tourists. It is equivalent to total internal Travel & Tourism spending (see below) within a country less the purchases made by those industries
(including imports). In terms of the UN’s Tourism Satellite Account methodology it is consistent with total GDP calculated in table 6 of the TSA: RMF 2008.
Direct contribution to employment – the number of direct jobs within Travel & Tourism. This is consistent with total employment calculated in table 7 of the TSA: RMF 2008.
Total contribution to GDP – GDP generated directly by the Travel
& Tourism sector plus its indirect and induced impacts (see below).
Total contribution to employment – the number of jobs generated directly in the Travel & Tourism sector plus the indirect and induced contributions (see below).

Direct Spending Impacts
Visitor exports – spending within the country by international tourists for both business and leisure trips, including spending on transport, but excluding international spending on education.
This is consistent with total inbound tourism expenditure in table 1 of the TSA: RMF 2008.
Domestic Travel & Tourism spending – spending within a country by that country’s residents for both business and leisure trips. Multi-use consumer durables are not included since they are not purchased solely for tourism purposes. This is consistent with total domestic tourism expenditure in table 2 of the TSA: RMF
2008. Outbound spending by residents abroad is not included here, but is separately identified according to the TSA: RMF 2008
(see below).

• Capital investment – includes capital investment spending by all industries directly involved in Travel & Tourism. This also constitutes investment spending by other industries on specific tourism assets such as new visitor accommodation and passenger transport equipment, as well as restaurants and leisure facilities for specific tourism use. This is consistent with total tourism gross fixed capital formation in table 8 of the TSA:
RMF 2008.
• Government collective spending –government spending in support of general tourism activity. This can include national as well as regional and local government spending. For example, it includes tourism promotion, visitor information services, administrative services and other public services. This is consistent with total collective tourism consumption in table
9 of TSA: RMF 2008.
• Supply-chain effects – purchases of domestic goods and services directly by different industries within Travel & Tourism as inputs to their final tourism output.
Induced contribution – the broader contribution to GDP and employment of spending by those who are directly or indirectly employed by Travel & Tourism.

Other Indicators
Outbound expenditure – spending outside the country by residents on all trips abroad. This is fully aligned with total outbound tourism expenditure in table 3 of the TSA: RMF 2008.
Foreign visitor arrivals – the number of arrivals of foreign visitors, including same-day and overnight visitors (tourists) to the country.

Government individual spending – spending by government on
Travel & Tourism services directly linked to visitors, such as cultural services (eg museums) or recreational services (eg national parks).
Internal tourism consumption – total revenue generated within a country by industries that deal directly with tourists including visitor exports, domestic spending and government individual spending.
This does not include spending abroad by residents. This is consistent with total internal tourism expenditure in table 4 of the
TSA: RMF 2008.
Business Travel & Tourism spending – spending on business travel within a country by residents and international visitors.
Leisure Travel & Tourism spending – spending on leisure travel within a country by residents and international visitors.

WTTC Travel & Tourism Economic Impact 2015

15

Methodological note
WTTC has an on-going commitment to align its economic impact research with the UN Statistics Division-approved 2008 Tourism Satellite
Account: Recommended Methodological Framework (TSA:RMF 2008). This involves benchmarking of country reports to official, published
TSAs, including for countries which are reporting data for the first time, as well as existing countries reporting an additional year’s data. New country TSAs incorporated this year include France, Germany, Japan, Malaysia, Mexico, Oman, Qatar and Saudi Arabia.
In addition to producing data on 184 countries, WTTC also produces reports on 24 other regions, sub-regions and economic and geographic groups. This year, there are 8 reports for special economic and geographic groups with Pacific Alliance being included for the first time. Please also note that from this year, the report for Sudan no longer includes data on South Sudan.

Economic and Geographic Groups
APEC (Asia-Pacific Economic Cooperation)

OAS (Organization of American States)

Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia,
Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New
Guinea, Peru, Philippines, Russian Federation, Singapore, Taiwan,
Thailand, USA, Vietnam.

Argentina, Antigua and Barbuda, Bahamas, Barbados, Belize,
Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Cuba,
Dominican Republic, Dominica, Ecuador, El Salvador, Grenada,
Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, St Kitts and Nevis, Nicaragua, Panama, Paraguay, Peru, St Lucia,
St Vincent and the Grenadines, Suriname, Trinidad and Tobago,
USA, Uruguay.

The Commonwealth
Anguilla, Antigua and Barbuda, Australia, Bahamas, Bangladesh,
Barbados, Belize, Bermuda, Botswana, Brunei, Cameroon,
Canada, Cayman Islands, Cyprus, Dominica, Ghana, Grenada,
Guyana, India, Jamaica, Kenya, Kiribati, Lesotho, Malawi,
Malaysia, Maldives, Malta, Mauritius, Mozambique, Namibia,
Nigeria, New Zealand, Pakistan, Papua New Guinea, Rwanda,
South Africa, Seychelles, Sierra Leone, Singapore, Solomon
Islands, Sri Lanka, St Kitts and Nevis, St Lucia, St Vincent and the
Grenadines, Swaziland, Tanzania, Tonga, Trinidad and Tobago,
Uganda, UK, British Virgin Islands, Vanuatu, Zambia.

OECD (Organisation for Economic
Co-Operation and Development)
Australia, Austria, Belgium, Canada, Chile, Czech Republic,
Denmark, Estonia, Finland, France, Germany, Greece, Hungary,
Iceland, Ireland, Israel, Italy, Japan, South Korea, Luxembourg,
Mexico, Netherlands, New Zealand, Norway, Poland, Portugal,
Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey,
UK, USA.

Former Netherlands Antilles

Other Oceania

Bonaire, Curacao, Sint Maarten, Saba and Sint Eustatius.

American Samoa, Cook Islands, French Polynesia, Guam,
Marshall Islands, Micronesia (Federated States of), New
Caledonia, Niue, Northern Mariana Islands, Palau, Samoa, Tuvalu.

G20
Argentina, Australia, Brazil, Canada, China, European Union,
France*, Germany*, India, Indonesia, Italy*, Japan, Mexico,
Russian Federation, Saudi Arabia, South Africa, South Korea,
Turkey, UK*, USA.

META (Mediterranean Travel Association)
Albania, Algeria, Bosnia Herzegovina, Croatia, Cyprus, Egypt,
France, Greece, Israel, Italy, Jordan, Lebanon, Libya, Macedonia,
Malta, Montenegro, Morocco, Portugal, Serbia, Slovenia, Spain,
Syria, Tunisia, Turkey.

16

WTTC Travel & Tourism Economic Impact 2015

Pacific Alliance
Chile, Colombia, Mexico, Peru.

SADC (Southern African Development
Community)
Angola, Botswana, Democratic Republic of Congo (DRC), Lesotho,
Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles,
South Africa, Swaziland, Tanzania, Zambia, Zimbabwe.
*included in European Union

Economic impact reports:
Regions, sub-regions and countries
WORLD
Region

Subregion

Country

Region

Subregion Country

Region

Subregion

Country

Region

Subregion

Country

Japan

Lithuania

Antigua &
Barbuda

China

Luxembourg

Hong Kong

Malta

Bahamas
Barbados
Bermuda

Benin

Chad
Comoros

Guadeloupe
Jamaica
Martinique

Ethiopia

Puerto Rico

Gabon

Oceania

St Lucia

Ghana

St Vincent & the
Grenadines

Guinea
Ivory Coast
Americas

Bolivia

Mozambique

Brazil

Namibia

Reunion
Rwanda
Sao Tome &
Principe
Senegal
Seychelles

Sudan

Guyana

Suriname

Maldives

Bosnia
Herzegovina

Nepal

Georgia

Pakistan

Iceland

Indonesia
Laos
Malaysia

Kazakhstan
Kyrgyzstan
Macedonia
Moldova
Montenegro
Norway

Myanmar
Philippines

Russian
Federation

Singapore

Serbia
Switzerland
Turkey
Ukraine
Uzbekistan
Bahrain
Iran

Cyprus

Honduras

Peru

Swaziland

Belarus

Croatia

Guatemala

Paraguay

India

Bulgaria

Ecuador

Panama

South Africa

Azerbaijan

Belgium

El Salvador

Nicaragua

Sierra Leone

Armenia

Austria

Costa Rica
Latin America

Republic of Congo

Albania

Vietnam

Colombia

Nigeria

UK

Thailand

Chile

Niger

Papua
New Guinea

Bangladesh

SouthEast Asia

Mauritius

Slovenia
Sweden

Cambodia

Belize

Slovakia

Other Oceania

Brunei

Argentina

Romania

Vanuatu

UK Virgin Islands

Mali

Portugal

Tonga

Trinidad &
Tobago

Malawi

Poland

Spain

Sri Lanka

US Virgin Islands

Netherlands

Kiribati

Solomon Islands

St Kitts & Nevis

Gambia

Iraq

Czech Republic

Israel

Denmark
Estonia
Finland
France
Germany

Jordan
Kuwait
Lebanon
Oman
Qatar

Tanzania

Uruguay

Togo

Venezuela

Hungary

Uganda

Canada

Ireland

Syria

Mexico

Italy

UAE

USA

Latvia

Yemen

Zambia
Zimbabwe

North
America

SUB-SAHARAN

Grenada
Haiti

Democratic
Republic of Congo

Africa

Dominican
Republic

European Union

Central African
Republic

Dominica

South Asia

Caribbean

Cape Verde

Fiji

Asia-PACIFIC

Cameroon

Madagascar

New Zealand

Former
Netherlands
Antilles

Burundi

Lesotho

Australia

Cuba

Burkina Faso

Kenya

Mongolia

Cayman Islands

Botswana

Taiwan

Other Europe

Angola

Macau

Europe

Tunisia

South Korea
European Union

Aruba

Morocco

Middle East

Libya

NORTHEAST Asia

Anguilla

Egypt

Europe

North
Africa

Algeria

Greece

Saudi Arabia

WTTC Travel & Tourism Economic Impact 2015

17

The World Travel & Tourism Council is the global authority on the economic and social contribution of Travel & Tourism.
WTTC promotes sustainable growth for the sector, working with governments and international institutions to create jobs, to drive exports and to generate prosperity. Council
Members are the Chairs, Presidents and Chief Executives of the world’s leading, private sector
Travel & Tourism businesses.
Together with its research partner, Oxford Economics, WTTC produces annual research that shows Travel & Tourism to be one of the world’s largest sectors, supporting over 276 million jobs and generating 9.8% of global GDP in 2014. Comprehensive reports quantify, compare and forecast the economic impact of Travel & Tourism on 184 economies around the world. In addition to the individual country reports, WTTC produces a world report highlighting global trends and 24 further reports that focus on regions, sub-regions and economic and geographic groups.
To download reports or data, please visit www.wttc.org

Assisting WTTC to Provide Tools for Analysis,
Benchmarking, Forecasting and Planning.
Over the last 33 years, Oxford Economics has built a diverse and loyal client base of over 800 international organisations, including leading multinational companies and financial institutions; key government bodies and trade associations; and top universities, consultancies, and think tanks. Headquartered in Oxford, England, with regional centres in London, New York and
Singapore, Oxford Economics has offices across the globe in Belfast, Chicago, Dubai, Miami,
Milan, Paris, Philadelphia, San Francisco, and Washington DC. The company employs over 140 full-time people, including more than 90 professional economists, industry experts and business editors – one of the largest teams of macroeconomists and thought leadership specialists – underpinned by our heritage with Oxford University and the academic community including a contributor network of over 500 economists, analysts and journalists around the world.
For more information, please take advantage of a free trial on our website, www.oxfordeconomics.com or contact Frances Nicholls, Director of Business Development,
Oxford Economics Ltd, Broadwall House, 21 Broadwall, London SE1 9PL.
Email: fnicholls@oxfordeconomics.com

18

WTTC Travel & Tourism Economic Impact 2015

CHAIRMAN
TUI DEUTSCHLAND GMBH &
TUIFLY GMBH
Dr Michael Frenzel
Chairman of the Supervisory
Boards

PRESIDENT & CEO
WORLD TRAVEL & TOURISM
COUNCIL
David Scowsill

VICE CHAIRMEN
BEIJING TOURISM GROUP
DUAN Qiang
Chairman
ETIHAD AIRWAYS
James Hogan
CEO
HILTON WORLDWIDE
Christopher J Nassetta
President & CEO
JUMEIRAH GROUP
Gerald Lawless
President & Group CEO

OUTRIGGER ENTERPRISES
GROUP
Richard R Kelley
Chairman Emeritus
REVOLUTION PLACES, LLC
Philippe Bourguignon
Vice Chairman

CORPORATE TRAVEL
SERVICES
José Luis Castro
Founder & CEO

ROYAL CARIBBEAN CRUISES
Richard D Fain
Chairman & CEO

CROWN LIMITED
Rowen Craigie
Managing Director & CEO

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Airasia Leadership

...Introduction AirAsia Group, a well-known low-cost airline around the Asia, which ownsby a parent company name “Tune Group”. This company was actually founded by “DRB-Hicom”, which is a company own by Malaysia’s government back in 20th December 1993 and started their operations on 18th November 1996. Unfortunately, the company’s performance not doing very well for few years until it was 2nd December 2001, the day that this airline taken over by Tony Fernandes, the CEO of Air Asia Group. Since then, Tony Fernandes performance was astonishing, he brought the airline back to life, and they even start making profits since year 2002 and launched their airline hubs in that particular year too. They even beat down their competitor which is used to monopoly Malaysia’s carrier service. Due to the extraordinary performance of the airline, they expanded their business in Thailand by placing a subsidiary at there. Now, we may easily found subsidiary airlines of AirAsia Group in India, Indonesia, Philippines, and even Japan. Their headquarters is currently located at Kuala Lumpur International Airport 2, Malaysia. At the year ended of 2014, there are more than 10,000 employees that still working within the organizations. Nature of business of AirAsia Group is simply focusing on providing low-cost airline services. But their values to the customers are, “Safety conscious, Caring, Passionate, Full of integrity, and Hardworking but keeping the Fun within.” Vision of AirAsia Group is to......

Words: 3617 - Pages: 15