The number of people employed in travel agencies dropped by 931 year-on-year to 3,743 in 2020, with receipts falling to MOP2.01 billion at the same time, a drop of 75.7% from the previous year.
According to data provided by the Statistics and Census Service (DSEC), the industry’s expenditure also dropped to MOP2.18 billion, a 72% fall year-on-year.
Data shows that there were 200 travel agencies operating in 2020, a decrease of 18 from the previous year.
Revenue from room reservation services (MOP574 million), package tours (MOP334 million) and passenger transport ticketing (MOP329 million) slumped by 77.9%, 84.6% and 78.1% respectively year-on-year, as the number of package tour visitors and outbound residents plunged by more than 90% amid the pandemic.
The industry registered a deficit of MOP185 million.
The Gross Value Added figure, measuring the sector’s contribution to the economy, tumbled by 73% year-on-year to MOP368 million. Meanwhile, Gross Fixed Capital Formation declined by 87.2% year-on-year to MOP24.05 million due to a reduction in vehicle purchases by travel agencies.
Analyzed by size of travel agency, establishments with fewer than 10 persons employed increased by eight year-on-year to 107, attributable to the downsizing of some travel agencies during the pandemic. The proportion of these travel agencies in the industry rose from 45.4% in 2019 to 53.5% in 2020.
At the same time, travel agencies with 50 or more persons engaged decreased by 7 year-on-year to 12, and their total proportion in the industry dropped from 8.7% in 2019 to 6%. LV
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