Statistics and Census Service (DSEC) data shows the Tourist Price Index (TPI) has remained stable for the third quarter of this year (Q3), representing a slight drop of 0.93% year-on-year.
The decrease was mainly attributable to lower hotel room rates and reduced charges for restaurant services. DSEC notes the drop was not more significant due to the increase in local food product prices which offset the decrease. Among the various sections of goods and services, the price index for accommodation (-22.83%) recorded a notable year-on-year decline, whereas the indices of food, alcoholic beverages and tobacco (+5.59%) and clothing and footwear (+5.27%) were the two that increased.
In comparison with the previous quarter, the TPI for Q3 went up 0.55%.
The average TPI for the last four quarters (Q4 2021 to Q3 2022) dropped 0.24% from the previous period.
Information from the DSEC indicated that visitor arrivals surged to 331,397 in August attributable to the easing of cross-boundary measures between Zhuhai and Macau in early August. In July, the city only recorded 9,759 visitor arrivals, a plunge of 98.8% year-on-year due to the Covid-19 outbreak that began June 18. RM
