The price of accommodation in Macau fell by almost 50% year-on-year in the fourth quarter of 2020, reflecting a year-long decline in the cost of goods and services paid by tourists according to information from the Statistics and Census Service (DSEC).
DSEC revealed Thursday that Macau’s Tourist Price Index, which reflects the price change of goods and services purchased by visitors, fell 15.26% in 2020, with the hotel sector suffering the biggest hit of all by plummeting 49.89%. That compared with a 12.49% fall in the price of clothing and footwear, and a 7.56% decline in the price of entertainment and cultural activities.
However, the cost of hotel rooms did show some improvement compared with the 3Q20, rising 3.85% quarter-on-quarter due to a significant uptick in tourist arrivals.
For the full 12 months to 31 December 2020, Macau’s Tourist Price Index fell 8.20% with hotel room rates declining 28.49%.
According to DSEC, the Tourist Price Index reflects the price change of goods and services purchased by visitors, with sections of goods and services selected based on the consumption pattern of visitors. These include Food, Alcoholic Beverages & Tobacco; Clothing & Footwear; Accommodation; Restaurant Services; Transport & Communications; Medicine & Personal Goods; Entertainment & Cultural Activities; and Miscellaneous Goods.