Information from the Statistics and Census Service indicated that the number of operating travel agencies totalled 155 in 2008, a decrease of 2 establishments over 2007. Sales & Other Receipts totalled MOP3.58 billion, up by 6.6% year-on-year and Gross Fixed Capital Formation increased by 20.0% to MOP70.18 million. However, Gross Value Added that measures the sectoral contribution to the economy dropped by 5.5% to MOP473 million on account of rising cost of Purchase of Goods & Services and higher Operating Expenses. At the end of 2008, a total of 2,806 persons were engaged in the travel agencies, up by 23.0% year-on-year. Expenditure of the travel agencies amounted to MOP3.43 billion, an increase of 11.2% over 2007. In terms of expenditure items, Purchase of Goods & Services for Sale (including tickets, package tours and room reservation) reached MOP2.87 billion (83.6% of the total), up by 8.7% year-on-year; Operating Expenses rose by 6.8% to MOP238 million. In addition, Compensation of Employees soared by 45.6% from 2007 to MOP321 million on account of a notable increase of 552 paid employees in 2008.
