Information from the Statistics and Census Service indicated that in light of the opening of large-scale hotels and gaming facilities, visitor arrivals in package tours continued to grow, together with the increasing number of outbound travels under individual arrangement using services provided by travel agencies, the overall business performance of travel agencies recorded satisfactory growth in 2007. Last year, there were 157 travel agencies in operation, up by 12 establishments compared with 2006. Sales & other receipts totalled MOP3.35 billion, corresponding to a year-on-year increase of 39.2%; gross fixed capital formation dropped by 39.8% to MOP58.48 million. In addition, gross value added, which measures the economic contribution of the sector, soared by 96.3% to MOP470 million. With an increase in the number of travel agencies in operation, the total workforce rose by 30.9% year-on-year to 2,281 at the end of 2007. Expenditure of the travel agencies amounted to MOP3.11 billion, an increase of 34.5% over 2006. In terms of expenditure items, payment for the purchase of tickets, package tours and room reservation (MOP2.63 billion) accounted for 84.7% of the total, up by 29.9% year-on-year; besides, operating expenses (MOP250 million) and compensation of employees (MOP220 million) surged by 77.4% and 57.0% respectively.
Is there anything wrong with this page?