Macau hotel employment drops 3% in Q1

Macau hotel employment has fallen for the first time in 2 years.

Macau.- Authorities in Macau have reported that the number of people employed in Macau’s hotel industry fell 3 per cent year-on-year in the first quarter of the year. The sector employed 46,283 people, including 45,801 full-time employees.

According to the data released, despite a decline in employment, wages have seen an increase of 3.7 per cent annually. On average, employees in the sector earn MOP19,960 (US$2,475) per month. Residents have higher salaries, earning MOP23,460 (US$2,909) per month, reflecting a 1.6 per cent yearly increase. Non-residents make MOP15,370 (US$1,906) per month, up 4.3 per cent.

Those working in housekeeping roles receive a monthly average of MOP11,280 (US$1,400), up 14.2 per cent from last year. The majority of hotel employees, approximately 92.7 per cent, work in establishments employing over 200 staff members. There is a higher proportion of male employees, with 25,786 men and 20,015 women working in the industry. 

Job vacancies in the sector rose by 4.3 percentage points to 5.4 per cent (2,611 positions) during the quarter. The turnover rate stood at 5 per cent, while the recruitment rate was reported at 9.7 per cent.

The Macau Statistics and Census Service has reported that gross domestic product (GDP) was up 38.8 per cent year-on-year. The growth was mainly due to the lifting of Covid-19-related travel restrictions and the resumption of package tours early this year.

In April, a forecast by the International Monetary Fund (IMF) predicted that Macau’s economy will grow by as much as 58.9 per cent in 2023. The GDP growth forecast for 2024 is 20.6 per cent, while growth of 8.5 per cent is estimated for 2025. These predictions come after three consecutive years of economic contraction due to strict Covid-19 prevention measures. 

The IMF predicts that the unemployment rate will drop to 2.7 per cent this year and that prices will grow no more than 2.5 per cent. In 2022, Macau experienced a decline of 26.8 per cent in GDP.