Higher contribution from domestic spending is also expected following the various incentives and income tax reductions under the revised Budget 2023, said MIDF Research.
PETALING JAYA: The increase in tourist arrivals will have a positive impact on the consumer sector, supported by stronger domestic demand as the labour market remains stable, says MIDF Research.
The research house said the reopening of most countries’ borders would further enhance Malaysia’s retail sales due to more tourist arrivals, especially those from China. Higher contribution from domestic spending is also expected following the various incentives and income tax reductions under the revised Budget 2023.
