Travel agencies record MOP119m deficit in 2021

The travel agency industry registered a deficit of MOP119 million in 2021, a smaller deficit compared to 2020 (-MOP186 million), according to the latest data from the Statistics and Census Service (DSEC).

The number of people engaged in the travel agency sector dropped 985 year-on-year to 2,774.

Previously, the Macao Tourist Guides Union (MTGU) noted that there were around 1,000 tourist guides before the pandemic, of which over 70% were aged 40 years or above. In addition, fewer people are applying for jobs in the travel industry because there have been no visitors traveling to Macau during the pandemic, and no need of foreign language tour guides either.

Meanwhile, Compensation of employees totaled MOP423 million, down 23.4% year-on-year. Operating expenses edged down 0.8% year-on-year to MOP422 million.

DSEC data shows industry revenue inched up by 0.7% year-on-year to MOP2.02 billion, whereas expenditure went down by 1.6% to MOP2.14 billion.

In 2021, the revenue of travel agencies from room reservation services (MOP682 million) and passenger transport ticketing (MOP399 million) showed year-on-year growth of 18.9% and 21.2% respectively, due to increased demand for travel agency services from visitors and local residents. Revenue from rental coaches with drivers (MOP476 million) nudged up by 0.8% year-on-year, while revenue from package tours (MOP206 million) fell by 36.7%.

There were 184 travel agencies operating in 2021, a decrease of 16 year-on-year. LV