Airbnb Adds RM9.2B to Malaysia’s GDP: What It Means for KL Property

Airbnb’s RM9.2 Billion Impact on Malaysia: A Wake-Up Call for KL Property Investors

Malaysia’s real estate landscape is shifting—and it’s not just because of infrastructure or government policy. A new report by Oxford Economics, commissioned by Airbnb, reveals that short-term rental activity contributed RM9.2 billion to Malaysia’s GDP in 2024, accounting for 5% of the tourism sector’s total output.

This isn’t just a tourism success story—it’s a signal to property investors, especially in Kuala Lumpur, that short-term rentals are reshaping how we value and leverage real estate. Whether you’re looking to generate passive income or ride the next property wave, understanding the Airbnb effect is now essential.

Airbnb Powers Jobs, Wages, and Economic Distribution

Airbnb’s economic ripple is extensive. It supported 93,600 jobs nationwide and contributed RM2.1 billion in wages across sectors such as:

RM11 Billion in Guest Spending: A Rental Market Goldmine

In 2024, Airbnb guests spent RM11 billion, with an average of RM640 per day. What’s striking is how this spending is distributed:

RM290 of every RM1,000 on restaurants and shopping
RM160 on arts and entertainment
RM140 on transport
RM110 on groceries

This directly benefits urban centres like KL, where amenities are abundant and short-stay travellers seek lifestyle-rich environments. Properties near lifestyle hubs—cafés, malls, event spaces, and transit lines—are uniquely positioned to command higher nightly rates and stronger occupancy levels.

For KL property owners, it’s clear: location and experience sell. If your unit sits within walking distance to eateries, public transport, or cultural landmarks, it’s no longer just a home—it’s a platform for economic activity.

Demand Is Growing—But It’s Not All in the City

One of the most compelling shifts is Airbnb’s expansion beyond urban centres. 67% of guests were Malaysians, and over half of all stays occurred outside Kuala Lumpur and Selangor. Guest spending on non-urban accommodations has increased 68% compared to 2019.

In GDP terms:

62% of Airbnb’s contribution came from non-KL/Selangor areas
These regions supported 63,500 jobs and generated RM1.3 billion in wages

What this suggests is a rebalancing of travel preferences—and possibly property opportunities. Secondary cities and semi-rural destinations are drawing attention, especially from local travellers. That said, KL remains the launchpad for many of these journeys and retains its advantage as a central hub for investment, lifestyle, and connectivity.

KL Property: Still the Anchor for International Appeal

While domestic demand drove growth, international visitors made up 33% of Airbnb stays in 2024—more than double the 2022 figure. And over 80% came from the Asia-Pacific region, with Kuala Lumpur often serving as their entry point into Malaysia.

For property investors in KL, this confirms what many have long suspected: city-centre properties with freehold status, skyline views, and walkable MRT access are still highly attractive to global guests. They’re easy to market, quick to occupy, and positioned for capital growth.

In fact, units in areas like KLCC, Bukit Bintang, Mont Kiara, or even newer hotspots near the MRT3 Circle Line are benefiting from rising short-stay bookings.

Airbnb and the Future of Malaysia’s Property Market

“Airbnb is driving Malaysia’s travel revolution,” said James Lambert of Oxford Economics, adding that the platform is unlocking untapped potential in rural destinations.

Mich Goh, Airbnb’s Asia-Pacific public policy director, echoed this, highlighting that Airbnb helps distribute economic benefits beyond major cities—a vital step toward a more inclusive tourism economy.

But make no mistake—Kuala Lumpur is still the heart of this ecosystem. It’s where infrastructure, airport access, medical tourism, business travel, and high-end hospitality converge. And for savvy buyers, that means KL property isn’t just livable—it’s investable.

How klproperty.cc Helps You Capture This Growth

At klproperty.cc, we’ve helped hundreds of buyers and investors identify properties that thrive in the short-term rental economy. Whether you’re looking for: