Macau Tourist Price Index up 4.68% in Q1

Hotel rates rose 8.35 per cent and clothing prices 9.17 per cent.

Macau.- The Statistics and Census Service (DSEC) has reported that Macau’s Tourist Price Index (TPI) for the first quarter of 2024 was up by 4.68 per cent year-on-year. That rise was primarily due to hotel room rates and clothing prices.

Hotel room rates were up by 8.35 per cent in year-on-year terms. Prices for clothing were up by 9.17 per cent. Despite the year-on-year increase, there was a 3.85 per cent fall in tourist prices compared to the fourth quarter of 2023.

For full-year 2023, the average TPI rose by 21.53 per cent year-on-year, reaching 141.8. The overall increase was attributed to escalated hotel room rates, elevated prices of clothing, increased charges for restaurant services, and a surge in the prices of local food products.