Macao’s restaurant operators and retailers are continuing to struggle, according to the latest figures from the Statistics and Census Service.
Its survey of 229 restaurants “and similar establishments,” as well as 161 retailers, found that overall restaurant takings fell by nearly 9.5 percent in September, compared to August. Sales by retailers decreased by 16.5 percent.
Compared to the same month in 2023, overall receipts at food and beverage venues fell by 5.5 percent, with Chinese restaurants taking an almost 13.5 percent hit.
Retailers fared far worse, seeing a nearly 21 percent drop in takings compared to September 2023. Worst affected were retailers of watches and jewellery, who saw takings plummet by 37.5 percent year-on-year.
[See more: Macao’s independent restaurateurs are facing a catastrophic loss of business]
The city’s dining and retail sectors have faced multiple headwinds since the ending of the Covid-19 pandemic.
Aided by improved transport links, local residents are choosing to spend their patacas on the Chinese mainland, where the costs of eating out and shopping are far lower.
At the same time, mainland Chinese visitors – by far Macao’s biggest source of tourists – are spending more cautiously as a result of the nation’s sluggish economy. Finally, global inflationary pressures have driven up the cost of raw materials and supplies.
The desperate situation has driven businesses associations to work with government officials on schemes to encourage local consumption.
