Travel agencies in the region have reported a gross surplus of MOP294 million (approximately US$36.7 million) for 2023, marking a significant turnaround from three consecutive years of deficits. This recovery comes as wages for industry professionals reached about 60% of their 2019 levels, alongside a rise in workforce numbers.
The industry achieved a gross value added of MOP817 million, representing an impressive increase of 181.6%. Additionally, gross fixed capital formation soared nearly 26 times to MOP139 million, largely due to travel agencies acquiring new vehicles.
According to the Statistics and Census Service, 177 travel agencies operated in 2023, maintaining the same count as the previous year. However, the sector saw an increase of 802 industry professionals, bringing the total workforce to 2,993.
Total receipts for the sector reached MOP5.06 billion, an increase of over 214% from the prior year. Expenditures also rose sharply, nearly 181%, totaling MOP4.78 billion.
Room bookings accounted for MOP1.7 billion, up over 208%, while passenger transport tickets generated MOP931 million, a nearly 280% increase. Package tours saw an even more remarkable rise, hitting MOP816 million, up over 318% year-on-year. Additionally, receipts from coach services rose to MOP1.14 billion, an increase of more than 158%.
In terms of spending, purchases of goods and services, including commissions, surged 241% to MOP3.45 billion. Room reservations reached MOP1.68 billion, up 208%. Meanwhile, transport tickets rose 256% to MOP817 million, and package tours increased by 266% to MOP645 million.
Operating expenses for the sector totaled MOP802 million, while employee compensation amounted to MOP524 million, reflecting year-on-year increases of 160.8% and 37.1%, respectively.
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