Strong baht expected to hurt Malaysian inbound tourism

Published on : Thursday, June 15, 2017

Malaysia outbound travelPublic and private players in the Malaysian tourism sector are of the opinion that a strong baht is expected to hurt inbound tourism by driving up the cost of travel and narrowing industry margins.

 
The Tourism and Sports Ministry said on Monday that the baht in the year till now has appreciated by 14% against the pound sterling, 8% against Malaysia’s ringgit, 5% against the euro and 2% against the US dollar. Supporting the trend was the Russian ruble, up by 20% against the baht during the first five months of the year as arrivals from Russia grew by 31%.

 

The ruble is expected to continue climbing during the second half of the year.
External factors like Brexit, a sluggish Malaysian economy and US policies under President Donald Trump, have also played a part.

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