The economic fallout of the pandemic has caused the annual average (Tourist Price Index) for 2021 to decline by 4.71% year-on-year to 117.09, mainly due to lower hotel room rates and airfares.
However higher charges for restaurant services have partially offset this decrease.
Data from the Statistics and Census Service (DSEC) shows that the TPI for the fourth quarter of 2021 increased by 0.73% year-on-year to 119.07, due to rising charges for restaurant services.
The reduced price of handbags offset part of this increase.
The price index in 2021 of Accommodation (-29.28%) fell sharply year-on-year. Likewise, the index for Transport & Communications dropped by -7.00%. By contrast, the indices of Restaurant Services (+4.62%) and Entertainment & Cultural Activities (+1.18%) registered increases.
TPI reflects the price change of goods and services purchased by visitors.
There was a steady rebound in tourist arrivals in the latter part of the year due to the Grand Prix and Christmas periods.
The rebound comes following Macau’s sudden lockdown and tightening of its measures against Covid-19 on September 25 – brought to a close on October 15.
Since September 25, Macau recorded a total of 13 new Covid-19 cases, which caused Zhuhai to tighten entry and exit requirements temporarily.