Tourist arrivals in the country are projected to jump four-fold to 9.6 million in 2023 from an estimated 2.5 million a year ago on the back of the reopening of international borders, according to Kenanga Research.

The increase, according to the research house, would be driven by the return of both business and leisure air travel globally.

Other factors include the revocation of all on-arrival quarantine and testing requirements in Malaysia as well as the gradual reopening of China.

It notes that China has historically accounted for an estimated 12% of the total tourist arrivals in Malaysia.

“We project MAHB’s system-wide passenger throughput to rise between 29% and 15% to 101 million and 116 million in 2023 and 2024 respectively, but it’s still a long way from matching the pre-pandemic level of 141 million recorded in 2019.

“Similarly, we project Capital A’s system-wide revenue seat km to grow 52% to 35 billion in 2023, but still falls short of the pre-pandemic level of 63 billion in 2019,” Kenanga Research said in report where it reiterated its “neutral” view on the sector.