The tourist price index (TPI) for the first quarter of 2024 is increasing at a faster rate than Macao’s general consumer price index, the latest figures show
According to the the Statistics and Census Service (known by its Portuguese initials DSEC) the TPI for the first quarter of 2024 went up by almost 4.7 percent year-on-year to 144.68, mostly on account of higher hotel room rates.
By comparison, the composite consumer price index for February grew by less than 1.5 percent year on year.
[See more: How to enjoy Macao on a budget]
The average TPI for the last four quarters, ending in the first quarter of 2024, rose by almost 8 percent from the previous period. The price index of accommodation surged by nearly 96 percent, while the index for entertainment and cultural activities showed 8 percent growth.
The high price of hotel accommodation in Macao has led to proposals to house budget travellers in Hengqin, which is more affordable and offers some 10,000 hotel rooms.
Macao’s integrated resorts can charge as average rates as high as 4,000 patacas (US$493) during peak periods, putting them beyond the reach of many mainland Chinese, who make up Macao’s biggest source of tourists.
