Macau’s Tourist Price Index (TPI) for 4Q23 increased by 26.2 percent year-on-year to 150.5. The rise was driven by higher hotel room rates, clothing, jewelry, and rising charges for restaurant services.
According to information from the Statistics and Census Service (DSEC), among the various sections of goods and services, the price index of Accommodation surged by 178.7 percent year-on-year, and the indices of Restaurant Services showed a growth of 2.4 percent.
In comparison with the previous quarter, TPI for 4Q rose by 6.6 percent. The price index of Accommodation grew by 19.8 percent due to higher hotel room rates during the National Day holidays and the Grand Prix.
The average TPI for the entire year of 2023 rose by 21.53 percent year-on-year to 141.8, attributed to higher hotel room rates, dearer prices of clothing, rising charges for restaurant services, and increased prices of local food products. When analyzed by section of goods and services, the price index of Accommodation soared by 158 percent year-on-year, and Restaurant Services also registered a growth of 2 percent.
