Total spending by visitors (excluding gaming expenses) surged 576.7% year-on-year to MOP19.60 billion in the third quarter (Q3) of 2023, representing an increase of 28.9% compared to the same quarter of 2019.
Data from the Statistics and Census Service (DSEC) shows that last quarter’s figure surged by 576.7% year-on-year, attributable to a substantial rise of 821.3% in the number of visitor arrivals – though from a low base as the city was under a partial lockdown due to the pandemic.
In the first three quarters of 2023, total spending by visitors amounted to MOP52.06 billion, an uplift of 290.3% year-on-year and an increase of 8.8% compared to the corresponding period in 2019.
Per-capita spending by visitors was MOP2,612 in the first nine months, representing a fall of 14.5% year-on-year but a rise of 64.9% as against the same period in 2019.
Per-capita spending by visitors from mainland China went down by 14.8% year-on-year to MOP2,711, with spending by those travelling under the Individual Visit Scheme (MOP2,812) falling by 54.2%.
In China, Capital Economics’ gauge of business activity showed growth slowing in July-September, though there were signs of improvement mainly driven by consumer spending.
Visitors spent primarily on shopping (44.3% of total) in the third quarter, followed by accommodation (29.3%) and food & beverages (20.1%). LV