The new budget will be the second balanced budget since the Covid-19 pandemic and is based on a projected government revenue of 121 billion patacas
Business
Figures for October show that while same-day visitors surged by 23.3 percent, overnight visitors grew by a mere 3.1 percent year-on-year
The Macao government has expressed confidence that the visitor arrival figures this year will exceed the original projection by 1 million
Sales fell to around 53 billion patacas, while the average sales volume dropped by roughly 21 percent during the initial three quarters of this year
Analysts say the government has failed to accurately forecast GGR in nine out of the last ten years, with discrepancies as high as 60 percent
Bargain hunters may be taking advantage of a significant fall in overall residential property prices per square metre
Officials accuse the company of multiple ‘contractual violations’ over the failed development of a resort and casino complex
Local restaurant operators have also faced challenges, with receipts in September plummeting by nearly 9.5 percent compared to the month before
Economic output is now more than 86 percent of the level recorded in the same period in pre-pandemic 2019