Macau’s Tourist Price Index (TPI) rose modestly in 2025 despite lower hotel room rates, according to data released by the Statistics and Census Service (DSEC).
The average TPI for the year increased 1.71 percent year-on-year, driven mainly by higher jewellery prices and increased spending on entertainment and leisure. The overall rise was partly offset by a decline in accommodation costs, which helped moderate visitor price inflation.
The DSEC said price movements varied across consumption categories. Prices for Miscellaneous Goods – including jewellery, watches, and arts and crafts – rose sharply by 13.46 percent year-on-year, while the index for Entertainment and Cultural Activities increased 8.2 percent. In contrast, the Accommodation price index fell 2.88 percent, and Medicine and Personal Goods prices declined 1.93 percent.
In the fourth quarter of 2025, the TPI rose 4.95 percent year-on-year, influenced by higher prices for hotel room rates, airfares, and jewellery. During the quarter, the price indices for Accommodation and Transport and Communications increased by 7.33 percent and 6.05 percent, respectively.
On a quarterly basis, the TPI surged 9.3 percent in the 4Q25 compared with the third quarter. Accommodation prices jumped 34.86 percent amid stronger hotel demand during the National Day holidays and the Macau Grand Prix. Prices for Miscellaneous Goods, Transport and Communications, and Clothing and Footwear also recorded notable increases during the period.
