The Tourist Price Index (TPI) dropped by 15.1 per cent year-on-year to 115.78 in the first quarter of 2021 due to lower hotel room rates, reduced prices of local food products and falling airfares.
TPI reflects the price change of goods and services purchased by visitors, such as Food, Alcoholic Beverages & Tobacco or accommodation.
The price index for hotel room rates reported the highest plunge, a 55 per cent year-on-year fall, with the price indices of Transport & Communications (-11.23 per cent) and Food, Alcoholic Beverages & Tobacco (-5.48 per cent) also registering decreases.
Visitor numbers in Macau dropped by 63.7 per cent year-on-year to 983,887 in January and February, however daily entry numbers have recuperated in March.
When compared to the previous three months, TPI dropped by 2.05 per cent, with price indices of Accommodation and Clothing & Footwear declining by 14.9 per cent and 5.7 per cent, respectively due to lower hotel room rates and seasonal sale of winter clothing.
However, the price indices of Entertainment & Cultural Activities (+5.44 per cent) and Restaurant Services (+3.62 per cent) have increased in that period.