PETALING JAYA: The socioeconomic indicators for the various states in the country improved in 2022, buoyed by a 248% increase in domestic tourism expenditure, which reached RM64.1bil following the reopening of Malaysia’s borders and its transition to the endemic phase on April 1 last year.
Statistics Department chief statistician Datuk Seri Mohd Uzir Mahidin said this was reflected in Malaysia’s gross domestic product (GDP) surging 8.7% compared to the 3.3% growth in 2021.
This marked its best performance since 2000.
The reopening of all economic activities, particularly tourism-related industries, aided in strengthening the country’s economy.
The permission for interstate travel and the implementation of various government initiatives to revitalise the tourism industry, which had been affected in the past two years, helped promote the country’s domestic tourism.
“This is observed as the domestic tourism performance experienced a remarkable recovery, reaching a total expenditure of RM64.1bil as compared to RM18.4bil in 2021, an increase of 248.1%,” he said in a statement following the release of the department’s State Socioeconomic Report 2022.
The number of domestic visitors spiked by 160.1%, reaching a record of 171.6 million visitors compared to the previous year’s 66 million visitors.
Selangor received the most visitors with 22 million.
This was followed by Kuala Lumpur and Sarawak, each receiving 16.9 million and 15.5 million visitors, respectively, Mohd Uzir added.
Citing the Malaysian Investment Development Authority data, the report said Malaysia recorded approved investments totalling RM264.6bil in 2022.
Foreign investment remained the major contributor to the total approved investments at 61.7% or RM163.3bil.
Meanwhile, domestic investment contributed 38.3% or RM101.3bil.
As a result, a total of 4,517 projects are anticipated to be implemented, creating 140,440 new employment opportunities for Malaysians.
Johor led with the highest investment activity, with an approved investment value of RM70.6bil.
The improving economic performance had also substantially raised society’s standard of living with the median monthly household income increasing from RM5,873 in 2019 to RM6,338 in 2022.
The highest median income was recorded in Kuala Lumpur at RM10,234.
“The surge in household income has boosted the consumer purchasing power which in turn increased the demand for goods and services.
“This was one of the factors contributing to the increase in consumer prices.
“This was apparent as Malaysia’s inflation rose to 3.3%, compared to 2.5% in 2021,” said Mohd Uzir.
He added the increase in the inflation rate was observed in all states, with three states experiencing inflation rates exceeding the national inflation rate of 3.3%.
The highest increase was recorded in Putrajaya (7.3%), followed by Selangor (4.2%) and Johor (3.4%).
On the other hand, other states recorded inflation rates lower than the national average, with Labuan registering the lowest inflation rate of 2.4%.
