DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/95acb3/malaysia_tourism_r) has announced the addition of the "Malaysia Tourism Report Q4 2011" report to their offering.
In the absence of any more timely data from Tourism Malaysia (their most recent data cover January 2011), BMI has decided to use tourist arrivals data released by the state of Sabah's tourist board as a proxy this quarter. The data show there was an 15.8% year-on-year (y-o-y) increase in tourists (foreign and domestic) visiting Sabah over January-July 2011, totaling 2,504,669.
This strong performance is likely to have been repeated across the country. Against this backdrop, BMI forecasts a 6% increase in tourist arrivals in 2011, to reach 26.03mn. Beyond 2011, BMI believes the Malaysian tourism market can continue to show steady growth of 5-7% per annum.
Malaysia Airlines-Air Asia Tie-Up Announced
In August 2011, national flag carrier Malaysia Airlines announced that it had entered a five-year comprehensive collaboration framework with rival AirAsia, urging the two airlines to complement each other's businesses so as to leverage on their respective core competencies and optimize efficiency for the benefit of consumers.
Also in August 2011, AirAsia reported strong Q211 results. These showed a 15% annual increase in revenue, to MYR1.08bn, plus a 0.6% increase in pre-tax profit to MYR145mn.
Company CEO Tony Fernandes was particularly pleased with the performance of the company's Thai subsidiary, where net profit was up by 875% y-o-y, and its Indonesian subsidiary, where revenue was up by 37%. Fernandes was hopeful that AirAsia Philippines should be able to launch services in Q411, subject to regulatory approval. The airline has also signed a deal with Japan's Nippon Airlines to establish AirAsia Japan, although no start date for this new carrier has been announced.
Companies Mentioned:
- AirAsia, Genting Malaysia
- Malaysia Airlines
For more information visit http://www.researchandmarkets.com/research/95acb3/malaysia_tourism_r