Hotels & Guesthouses (No.)
Persons Engaged (No.) •
Receipts (Million MOP) Expenditure
Compensation of Employees Operating Expenses Purchase of Goods &
Commission Paid Gross Value Added
Gross Fixed Capital Formation Gross Surplus
Gross Surplus Ratio (%)
Gross Surplus-Expenditure Ratio (%) Average Value Added per
Person Engaged ('000 MOP)
•
Alameda Dr. Carlos d' Assumpção, No. 411-417, Dynasty Plaza, 17th floor, Macao Tel: (853) 8399 5311 Fax: (853) 2830 7825 E-mail: info@dsec.gov.mo Official Statistics. Reproduction of these data is allowed provided the source is quoted.
12.3
325 285 14.0
Receipts and Gross Surplus
Gross Surplus Ratio and Gross Surplus-Expenditure Ratio
Receipts and expenditure of the sector rose by 14.7% and 8.8% respectively year-on-year. Expenditure was mainly incurred on Compensation of Employees, Operating Expenses and Purchase of Goods & Commission Paid, up by 9.1%, 8.5% and 8.9% respectively.
Number of operating hotels and guesthouses increased by 4 year-on-year to 113, including 79 hotels and 34 guesthouses. Total number of persons engaged went up by 2.9% to 51,074.
8.5 11 772
Principal Indicators
113 2017
51 074 49 616
2 204 28 982
2016r
12 773
26 638
2 932
8.8
-76.4 8.9 3 193
16 589 8 631
14 139
As new hotels and guesthouses came into operation progressively in 2017, the business performance of the hotel sector showed improvement as compared to 2016, with receipts increasing by 14.7% year-on-year to MOP 32.59 billion.
Expenditure of the sector amounted to MOP 28.98 billion, up by 8.8% year-on-year. In terms of structure of expenditure, Compensation of Employees accounted for 44.9% of the total, followed by Operating Expenses and Purchase of Goods &
Commission Paid, at 44.1% and 11.0% respectively.
3.2 p.p.
7.8
62.1 3 573
32 595
11 935 –
–
–
–
109
Gross Value Added that measures the sectoral contribution to the economy grew by 17.3% year-on-year. Meanwhile, following the completion of several large-scale hotels in 2016, Gross Fixed Capital Formation of the sector in 2017 plunged by 76.4%.
Change (%)
36 602
11.0
2.9
13 016
14.7 28 427
Attributable to the increases in guest rooms and guests of hotels & guesthouses, receipts and expenditure of the sector registered year-on-year growth. Gross Surplus surged by 62.1% year-on-year, marking an end to the downward trend over the previous two years.
17.3 4
9.1
4.0 p.p.
8.3
2017
HOTELS AND SIMILAR ESTABLISHMENTS SURVEY
Structure of Expenditure
As the growth in receipts of the sector outpaced that in expenditure, gross surplus surged by 62.1% year-on-year to MOP 3.57 billion.
Gross Surplus Ratio rose by 3.2 percentage points year-on-year to 11.0%, reflecting the ability of the sector to convert receipts into gross surplus has improved. In addition, Gross Surplus-Expenditure Ratio, which measures the cost-effectiveness of a sector, grew by 4.0 percentage points to 12.3%.
統 計 暨 普 查 局
Government of Macao Special Administrative Region Statistics and Census Service
44.8%
44.2%
11.0%
44.9%
44.1%
11.0%
2016 2017 25 298 27 871
26 046 28 427
32 595
4 130 4 955
2 756 2 204 3 573
0 5 000 10 000 15 000 20 000 25 000 30 000 35 000
2013 2014 2015 2016 2017
Million MOP
Receipts Gross Surplus
r
r
16.3 17.8
10.6
7.8
11.0
19.3 21.5
11.8
8.3
12.3
0 5 10 15 20 25
2013 2014 2015 2016 2017
Gross Surplus Ratio Gross Surplus-Expenditure Ratio
%
Compensation of Employees Operating Expenses Purchase of Goods & Commission Paid
•
•
Business Performance of Hotels
Receipts of Hotels Million MOP Receipts of Hotels
Total Receipts (including Interests & •
Insurance Claims) Receipts
Of which: Online Businessa Interest Receipts and Insurance Claims
a
Receipts by Item Million MOP
Total Room Sales Rental of Space
Malls, showrooms, etc.
MICE venues / private banquets halls Food & Beverages Other Receipts
•
2017 2016r Change (%)
15.0
12.1 20.4 12 883
Interest Receipts and Insurance Claims reached MOP 182 million in 2017, an upsurge of 631.7% as compared to 2016 (MOP 24.90 million), owing to the insurance claims for the damages from the catastrophic typhoon on 23 August.
32 538 28 374 14.7
7 547 6 269
6 775 5 778
772 491 57.2
3 288 3 085 6.6
28 399
28 374 14.7
32 538 Gross Value Added
Gross Fixed Capital Formation of the sector plunged by 76.4% year- on-year to MOP 8.63 billion, following the completion of several large- scale hotels in 2016.
Analysed by items, Gross Fixed Capital Formation of Buildings &
Other Constructions (MOP 4.30 billion) declined by 83.2%, and that of Major Renovations & Other Fixed Assets (MOP 3.51 billion) and Motor Vehicles, Machinery & Other Equipment (MOP 710 million) also recorded notable decreases of 57.2% and 72.6% respectively.
Structure of Receipts
6 883 6 137
Gross Fixed Capital Formation
17.2 15.2
1 713 1 180 ..
In 2016 and 2017, data was provided by 62 and 68 establishments respectively.
182
Change (%)
25 631.7
2017
32 720 Receipts of the 79 hotels increased by 14.7% year-on-year, with
those from Online Business (including bookings of hotel rooms and tickets) amounting to MOP 1.71 billion.
Analysed by the items of receipts, those from Room Sales took up 45.5% of the total, at MOP 14.82 billion, up by 15.0% year-on-year.
Receipts from Rental of Space went up by 20.4% year-on-year to MOP 7.55 billion (23.2% of total), of which MOP 6.77 billion were generated from rental of malls, showrooms, etc., representing a growth of 17.2%; while receipts from rental of MICE venues/private banquet halls (MOP 772 million) expanded by 57.2%. Besides, receipts from provision of Food & Beverages rose by 12.1% to MOP 6.88 billion.
14 820 2016r
Gross Value Added that measures the sectoral contribution to the economy jumped by 17.3% year-on-year to MOP 16.59 billion, as the increase in receipts exceeded that in Operating Expenses and Purchase of Goods & Commission Paid.
Total number of persons engaged rose by 2.9% year-on-year to 51,074, and Average Value Added per Person Engaged grew by 14.0% to MOP 0.33 million.
12 313 14 546 13 203 14 139 16 589
309
368
292 285 325
0 100 200 300 400
0 3 000 6 000 9 000 12 000 15 000 18 000
2013 2014 2015 2016 2017
Gross Value Added
Average Value Added per Person Engaged
Million MOP '000 MOP
4 297
710 118
3 506 25 576
2 591
242
8 194
0 5 000 10 000 15 000 20 000 25 000 30 000
Buildings & Other Constructions
Motor Vehicles, Machinery &
Other Equipment
Computer Software
Major Renovations &
Other Fixed Assets Million MOP
45.4%
22.1%
21.6%
10.9%
45.5%
23.2%
21.2%
10.1%
2016 2017
2017 2016
Room Sales Rental of Space
r
r
Expenditure of Hotels
•
•
Expenditure by Item Million MOP
•
Compensation of Employees Of which: Remuneration in Cash Operating Expenses
Of which:
Management Services &
Contractual Services Electricity Charges Maintenance & Repairs Materials for Self-consumption
• Marketing & Publicity
Rent of Establishment Purchase of Goods &
Commission Paid Food & Beverages Other Goods Commission Paid
•
741 776 -4.5
2 352
26.2 10.2
1 700
Expenditure of the hotels was mainly incurred on Compensation of Employees (MOP 12.99 billion) and Operating Expenses (MOP 12.75 billion), up by 9.1% and 8.5% respectively year-on-year;
expenditure on Purchase of Goods and Commission Paid also grew by 8.9% to MOP 3.19 billion.
With respect to Compensation of Employees, Remuneration in Cash amounted to MOP 11.39 billion, up by 8.4% year-on-year, and expenditure on Benefits of Employees (e.g. payments in kind, pension funds, and contributions to Social Security Funds) rose by 13.7% to MOP 1.60 billion.
361 11 395
Change (%) 2016r
Among the various items of Operating Expenses, expenditure on 2017 Management Services & Contractual Services went up by 10.2%
year-on-year to MOP 2.59 billion, with its proportion rising by 0.3 percentage points to 20.3%.
Expenditure on Electricity (MOP 1.73 billion) and Maintenance &
Repairs (MOP 1.19 billion) increased by 1.5% and 26.2%
respectively, while that on Materials for Self-consumption (MOP 1.15 billion) and Marketing & Publicity (MOP 1.05 billion) fell by 11.2% and 9.3%.
9.1 12 995
12 749 Structure of Expenditure
1 186
11 914
8.4
2 591
1.5
-11.2 10 507
11 752
1 047
3 193
0.3
Non-operating Expenses
2 617 2 381 9.9
363
12.6
Non-operating Expenses of hotels (including depreciation and interest paid) increased by 15.1% year-on-year to MOP 12.82 billion, of which Depreciation accounted for 84.5%, at MOP 10.83 billion; meanwhile, as loans granted to the sector increased, Interest Paid went up to MOP 1.99 billion. These two indicators both rose by 15.1% year-on-year.
214 190
1 296
1 154 -9.3
1 151 Purchase of Food & Beverages took up 82.0% of the expenditure on
Purchase of Goods & Commission Paid, at MOP 2.62 billion, up by 9.9% year-on-year; expenditure on Other Goods (MOP 363 million) and Commission Paid (MOP 214 million) rose by 0.3% and 12.6%
respectively.
8.5
1 725
939
2 932 8.9
10 833
1 991 9 411
1 729 0
2 000 4 000 6 000 8 000 10 000 12 000
Depreciation Interest Paid Million MOP
Purchase of Goods &
Commission Paid 11.0%
Operating Expenses 44.1%
Remuneration in Cash
39.4%
Benefits of Employees
5.5%
Compensation of Employees
44.9%
2017 2016r
Indicators by Classification of Hotels
5-star 4-star 3-star 2-star
Receipts by Classification of Hotels
•
Expenditure by Classification of Hotels Expenditure of Hotels by Item
•
Compensation of Employees Operating Expenses
Of which:
Management Services &
Contractual Services Electricity Charges Maintenance & Repairs Materials for Self-consumption Marketing & Publicity Rent of Establishment Purchase of Goods &
Commission Paid
370
119 560 62
In terms of five-star hotels, number of persons engaged increased by 1,964 (+5.4%) year-on-year, and Compensation of Employees rose by 10.2% to MOP 10.32 billion. Operating Expenses of these hotels grew by 9.8% to MOP 9.49 billion, of which expenditure on Management Services & Contractual Services went up by 10.5%
whereas Electricity Charges dropped by 1.5%.
Four-star hotels had an expenditure of MOP 3.72 billion, down by 2.7% year-on-year. The majority was spent on Operating Expenses (MOP 2.02 billion), with Rent of Establishment and expenditure on Management Services & Contractual Services decreasing by 1.9%
and 4.0% respectively; meanwhile, expenditure on Maintenance &
Repairs surged by 34.4%.
Moreover, expenditure of three-star & two-star hotels recorded double-digit growth, up by 18.6% year-on-year to MOP 2.88 billion, which was mainly incurred on Compensation of Employees (MOP 1.35 billion) and Operating Expenses (MOP 1.23 billion), up by 14.5%
and 19.3% respectively. As regards Operating Expenses, the growth rates of expenditure on Management Services & Contractual Services and Electricity Charges reached 43.2% and 56.0% respectively.
25.5 2 104
495
12 425
9 494
10 321 1 350
142
910 4.8
108
4-star 3-star &
2-star 5-star
Receipts of five-star hotels grew by 11.7% year-on-year to MOP 24.48 billion. Analysed by items, Room Sales (MOP 10.86 billion) was the major source of receipts, up by 10.3%, followed by receipts from Rental of Space (MOP 6.45 billion) and provision of Food &
Beverages (MOP 5.27 billion), up by 15.2% and 10.6% respectively.
As regards four-star hotels, receipts rose by 2.2% year-on-year to MOP 4.21 billion, of which 53.2% were generated from Room Sales, at MOP 2.24 billion, up by 7.0%; meanwhile, receipts from provision of Food & Beverages dropped by 4.7% to MOP 860 million.
Meanwhile, three-star & two-star hotels registered a total of MOP 3.86 billion in receipts, up by 64.8% year-on-year. All items of receipts recorded notable growth, with those from Room Sales (MOP 1.73 billion), provision of Food & Beverages (MOP 753 million) and Rental of Space (MOP 692 million) soaring by 82.5%, 59.6% and 122.2% respectively.
Distribution of Receipts by Classification of Hotels
51
Million MOP 16
1 819
34 326
11.8 17
5 884 4 207
22 339
287 Receipts
106 194
202
896
2 524 300
149 1 233 1 626
Gross Value Added
22 348
1 791 299
957 2 261
938 5
166 686
Gross Surplus
Gross Fixed Capital Formation
Gross Surplus
Ratio
(%) ('000 MOP)
Expenditure
7 723 5 621
24 476
12
1 324 2 022
500
229
145 103
103 780
358
1 295 3 747
Rooms Available Persons
Engaged Hotels
(No.)
3 715 2 779
Average Value Added per Person Engaged
8.6 38 150
6 346
6 013 376
207 (Million MOP)
5-star 2017 2016
4-star 2017 2016
3-star & 2-star 2017
2016 945
1 725 2 091
2 236 9 846 10 858
312 692
354 402 5 603 6 453
472 753 902
860 4 764 5 271
610 685 770 709 1 705 1 895
000 000 000 001 001 001
3-star & 2-star 3-star & 2-star 4-star 5-star
% Million MOP
0 20 40 60 80 100 Room Sales Rental of Space Food & Beverages Other Receipts
r
•
Gross Surplus Ratio of Hotels % •
5-star 4-star 3-star 2-star
•
Gross Fixed Capital Formation of Hotels Million MOP •
5-star 4-star 3-star 2-star
As regards Gross Surplus Ratio, three-star hotels had the highest ratio at 25.5%, representing a notable improvement from the negative value in 2016. The respective ratio for four-star hotels also rose by 4.3 percentage points to 11.8%. Meanwhile, Gross Surplus Ratio of five-star hotels (8.6%) and two-star hotels (4.8%) dropped by 0.3 percentage points and 26.3 percentage points respectively.
2017 2016r
Gross Surplus of Hotels
29 077 -79.8
177
4 25 325.9
Change (%)
207 2017
910
8.9
2016r
16.8 Difference (p.p.)
-4.5 31.1
..
-26.3
With respect to Gross Surplus, five-star hotels took up 58.9% of the total, at MOP 2.10 billion, up by 7.8% year-on-year. Gross Surplus of four-star hotels expanded by 60.6% to MOP 495 million, while three-star hotels recovered from deficit, yielding a Gross Surplus of MOP 957 million in 2017.
Gross Surplus of two-star hotels plunged by 83.3% to merely MOP 5.16 million, as the increase in their receipts was much lower than that in expenditure.
Gross Value Added of five-star hotels rose by 9.8% year-on-year to MOP 12.43 billion, constituting 74.9% of the total.
Meanwhile, Gross Value Added of three-star hotels leapt by 116.8%
to MOP 2.26 billion, as the growth of their receipts was higher than that of Operating Expenses and expenditure on Purchase of Goods &
Commission Paid.
Following the completion of hotels in 2016, Gross Fixed Capital Formation of five-star and three-star hotels tumbled by 79.8% and 77.9% respectively year-on-year.
Attributable to the opening of new two-star hotels in 2017, Gross Fixed Capital Formation of hotels of this classification rocketed up by 25,325.9% year-on-year to MOP 910 million, despite the fact that some two-star hotels had suspended their operations during the reference year.
5 884
1 626 7 344 - 77.9
11.8 7.5
-0.3
4.8 8.6
4.3 25.5
Gross Value Added of Hotels 2 104
495
957
5 1 952
308
- 100
31
- 500 0 500 1 000 1 500 2 000 2 500
5-star 4-star 3-star 2-star
2017 2016
Million MOP
r
2017 2016
12 425
1 819 2 261
51 11 318
1 678
1 043
67 0
2 500 5 000 7 500 10 000 12 500
5-star 4-star 3-star 2-star
Million MOP
r
Business Performance of Hotels by Number of Persons Engaged
•
Hotels (No.)
Persons Engaged (No.) Receipts (Million MOP) Expenditure
Gross Value Added
Gross Fixed Capital Formation Average Value Added per
Person Engaged ('000 MOP)
•
Gross Surplus (Million MOP) Gross Surplus Ratio (%)
• Gross Surplus-Expenditure
Ratio (%)
Receipts and Expenditure of Hotels by Number of Rooms Available
•
Hotels (No.)
Persons Engaged (No.) Receipts (Million MOP) Expenditure
•
•
23.7 41.7 72.0
-2.6 -2.5 168
418
5 033 29 771
< 100
(No.) 100 -
399 400 -
799 800 - 1 499
≧ 1 500
376 362
368
8
2 866 4 443 6 202 114
16 917 15 311 3 583 6 443
25 25 6
398 5 821 9 821 11 879
144 5 451
8 22 948 Analysed by number of persons engaged, number of hotels with 1,500 or more persons engaged stayed at 8. Receipts (MOP 18.75 billion) and expenditure (MOP 19.20 billion) increased by 22.8% and 11.9% respectively year-on-year. These hotels recorded a deficit of MOP 478 million as their receipts were less than expenditure.
Meanwhile, Gross Surplus Ratio (-2.6%) and Gross Surplus- Expenditure Ratio (-2.5%) of these hotels were negative, yet their business performance showed significant improvement as compared to 2016.
100 - 299
300 - 499
500 - 999
≧ 1 000 (No.)
Hotels with less than 100 persons engaged totalled 21, down by 1 year-on-year. Receipts of these hotels (MOP 418 million) increased by 17.8% whereas expenditure (MOP 249 million) edged down by 0.1%. Gross Surplus surged by 60.4%, with the growth rates of Gross Surplus Ratio (40.2%) and Gross Surplus-Expenditure Ratio (67.5%) being the highest among hotels of different scales, at 10.7 percentage points and 25.5 percentage points respectively.
15
< 100
2 932 4 362 2 192 5
Business Performance of Hotels by Number of Rooms Available Gross Surplus of Hotels by Number of Persons Engaged
4 188 400 -
799 800 - 1 499
≧ 1 500
2 631 3 008 282
Number of hotels with 800 to 1,499 persons engaged went down by 1 year-on-year to 5, and number of persons engaged (5,033) dropped by 15.2%. Both receipts (MOP 3.79 billion) and expenditure (MOP 2.19 billion) decreased by 14.1%, while Gross Surplus fell by 15.0%
to MOP 1.58 billion. Moreover, Gross Surplus Ratio and Gross Surplus-Expenditure Ratio of these hotels stood at 41.7% and 72.0%
respectively, which were higher than hotels of different scales.
1 261 1 033 1 578 - 478 40.2
67.5 30.1 43.0
19.1
Principal Indicators of Hotels by Number of Persons Engaged
31 (No.)
Gross Surplus of Hotels by Number of Rooms Available
With regard to the number of rooms available, large hotels with 1,000 or more rooms decreased by 1 year-on-year to 8, and number of persons engaged fell by 14.0% to 22,948. Their receipts (MOP 16.92 billion) rose by 9.2%, whereas expenditure (MOP 15.31 billion) dropped by 8.5%. Gross Surplus of these hotels was MOP 1.56 billion, a notable improvement as compared to the deficit of MOP 825 million in 2016.
Hotels with 500 to 999 rooms totalled 6, up by 1 year-on-year.
Number of persons engaged (11,879), receipts (MOP 5.45 billion) and expenditure (MOP 6.20 billion) of these hotels soared by 81.8%, 65.9% and 133.7% respectively. As their expenditure was higher than receipts, a deficit of MOP 746 million was recorded.
263
< 100 100 - 399
919 4 810 242
19 202 766
21
317 2 339 6 993 8 304
14
Hotels with less than 100 rooms went down by 2 year-on-year to 15.
Coupling with the decrease in number of establishments, number of persons engaged (398), receipts (MOP 144 million) and expenditure (MOP 114 million) of these hotels registered double-digit decline.
560 5 399 3 786 18 747
2 820 7 816 249
29
717
1 997
- 746
1 564
- 6
632
1 765
625
- 825 -1 000
- 500 0 500 1 000 1 500 2 000 Million MOP
<100 100 - 299 300 - 499 500 - 999 ≧ 1 000 No.
r
Business Performance of Guesthouses
Guesthouses (No.) •
Persons Engaged (No.) Receipts ('000 MOP) Expenditure
Compensation of Employees Operating Expenses Purchase of Goods &
Commission Paid Gross Value Added
Gross Fixed Capital Formation Gross Surplus
Gross Surplus Ratio (%)
Gross Surplus-Expenditure Ratio (%) Average Value Added per
Person Engaged
Historical Data
Hotels & Guesthouses (No.) Persons Engaged (No.) Receipts (Million MOP) Expenditure
Gross Value Added
Gross Fixed Capital Formation Gross Surplus
Gross Surplus Ratio (%)
Gross Surplus-Expenditure Ratio (%)
24.6
11.6 13.0
100 39 909 25 298 21 377 12 313 2 265 4 130 16.3 19.3 100
19 500 10 345 8 243 2 534 39 537 21 932
2017 2016r Change (%)
34 32 2
207 211 -1.9
56 965 53 060 7.4
45 788 40 663 12.6
21 714
7.8 4 955
109 -6.0 p.p.
2015
3 532 704
12 454 -9.7
Principal Indicators of Guesthouse
20 829
33 283
19.7
36 602 2 204 23 445
49 616 99
2 756
2 763 28 862r
13 203 14 546
23 076
28 427 26 638 14 139 26 046
39 475
107
2016r 2014
20.6 19 806
28 566.2
4.2 23 887
159 158 0.9
187
23.5 -3.8 p.p.
30.6
Guesthouses totalled 34, up by 2 year-on-year, while number of persons engaged decreased by 4 (-1.9%) to 207.
Receipts amounted to MOP 56.97 million, up by 7.4% year-on-year.
Expenditure grew by 12.6% to MOP 45.79 million, with Operating Expenses (MOP 23.89 million) and Compensation of Employees (MOP 21.71 million) rising by 20.6% and 4.2% respectively;
expenditure on Purchase of Goods & Commission Paid rocketed by 566.2% year-on-year to MOP 0.19 million, as the base value in 2016 (MOP 28,000) was relatively low.
Gross Surplus of guesthouses dropped by 9.7% year-on-year as the increase in receipts was smaller than that in expenditure. Gross Surplus Ratio (19.7%) and Gross Surplus-Expenditure Ratio (24.6%) also fell by 3.8% and 6.0% respectively.
Gross Value Added of guesthouses went down by 1.0% year-on- year to MOP 32.96 million. Meanwhile, Gross Fixed Capital Formation expanded by 401.6% to MOP 3.53 million owing to some guesthouses that came into operation in 2017.
2013 2012
32 960 -1.0
401.6 11 246
11.8 8.3
21.5
10.6 17.8
27 871
45 271
Survey Coverage
Symbols:
r Revised figures p.p. Percentage point
..
Not applicable MOP Macao Pataca '000 ThousandFor additional information:
Rooms Available: Rooms available for guests in hotels and guesthouses as at the reference date. Relevant information is collected from the Monthly Survey on Hotels and Similar Establishments.
Gross Surplus Ratio: Gross Surplus divided by receipts and then multiplied by 100%. The higher the ratio, the more effective a business is at converting receipts into gross surplus.
Persons Engaged: All individuals who work for the establishment as at the last working day of the reference year, including employees and unpaid workers, but excluding individuals who are absent for an indefinite period.
Receipts: Operating receipts from the provision of services and resale of goods and products before any deduction of costs. Receipts are generated from room sales; food & beverages; rental of space; and other receipts not specified above, but exclude non-operating receipts such as interest received and insurance claims.
Expenditure: Includes compensation of employees, purchase of goods & services, commission paid and operating expenses; non-operating expenses such as depreciation and interest paid are excluded.
Operating Expenses: Include materials for self-consumption; water; fuels; electricity charges; maintenance & repairs; rent of establishment; coach hire with driver; non-labour insurance; marketing, market research & publicity; trademark rights; complimentary goods & services provided to customers (including ferry tickets, performance tickets, food & beverages, etc.); professional & consulting services (legal, auditing and consultancy services, etc.); management services & contractual services (cleaning, pest control, and laundry services, etc.); and other operating expenses.
Establishment: An economic unit which engages in one or predominantly one kind of economic activity at a single location.
Glossary
Gross Surplus-Expenditure Ratio: Gross Surplus divided by expenditure and multiplied by 100%. The higher the ratio, the more cost-effective an establishment is.
Gross Fixed Capital Formation: Equals the value of total acquisitions of new, used and fixed assets produced for own use, less the proceeds from sales of fixed assets. Fixed assets include buildings; furniture; machinery & equipment; vehicles; computer software; and other durable goods with a lifespan of one year or more. Also included are major repairs, alterations and extensions made to the existing fixed assets.
Average Value Added per Person Engaged: Gross Value Added divided by number of persons engaged. An indicator that measures the sectoral contribution of each person engaged to the economy.
Gross Surplus: Equals receipts, plus changes in inventories, minus expenditure.
Gross Value Added: Equals receipts, plus changes in inventories, minus purchases of goods & services for sale, commission paid and operating expenses.
Coverage of the survey comprises 113 hotels & guesthouses operating in Macao in 2017, including information on 2 establishments which suspended operations in the reference year. The list of establishments is originated from the Statistics and Census Service (DSEC) and supplemented with information from the Financial Services Bureau and the Macao Government Tourist Office.
