Macao travel agencies record 1.04 bln USD revenue in 2019

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MACAO, Sept. 28 (Xinhua) -- The revenue of Macao's travel agencies amounted to 8.29 billion patacas (about 1.04 billion U.S. dollars) in 2019, recording an decrease of 9.5 percent year-on-year, the special administrative region's statistic service said here on Monday.

The latest report from the Statistics and Census Service (DSEC) showed that there were 218 travel agencies operating in 2019, down by three year-on-year. The number of employees rose by 131 year-on-year to 4,614.

The expenditure of these travel agencies fell by 11.0 percent to 7.79 billion patacas (about 975.86 million dollars), it said.

Despite a drop in revenue, the gross value added that measures the sectoral contribution to the economy increased by 10.6 percent year-on-year to 1.37 billion patacas (about 171.62 million dollars), due to a significant reduction in expenditure on purchase of goods, services and commission.

The gross surplus rose by 21.9 percent year-on-year to 512.00 million patacas (about 64.14 million dollars), driving up the gross surplus ratio and the gross surplus-expenditure ratio by 1.6 percentage points and 1.8 percentage points respectively to 6.2 percent and 6.6 percent.

On the other hand, the gross fixed capital formation slid by 4.0 percent year-on-year to 188.00 million patacas (about 23.55 million dollars) on account of a decrease in acquisition of vehicles and shops by some travel agencies. Enditem

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