GGRAsia – Macau tourist price index flat in first quarter

Macau tourist price index flat in first quarter

Apr 15, 2019 Newsdesk Latest News, Macau, Top of the deck

Macau’s tourist price index recorded a year-on-year increase of 0.7 percent in the first quarter of 2019, according to data released on Monday by the city’s Statistics and Census Service.

The index reflects price changes in goods and services typically purchased by visitors but excludes gaming. The majority of gamblers in Macau’s casinos are tourists.

The statistics bureau said the slight year-on-year increase in the index for the first three months was partly related to “higher charges for hotel accommodation and restaurant services”.

Price indicators for hotel accommodation increased by 3.7 percent year-on-year in the three months to March 31, while those for food, alcoholic beverages and tobacco were up nearly 3.3 percent, stated the Statistics and Census Service.

A separate set of data released recently by the Macao Government Tourism Office – citing figures from the Macau Hotel Association – showed that the average room rate of the city’s three-star to five-star hotels stood at MOP1,379.70 (US$170.8) for the first two months this year, representing a 1.9 percent year-on-year increase.

Compared with the previous quarter, Macau’s tourist price index for the first three months of 2019 went down nearly 1.4 percent.

Judged on an annualised basis – i.e., measured across the 12 months to March 31 this year compared to the equivalent prior period – the index was up by 0.6 percent.