It’s already having a major impact on global trade, causing cargo ships to make expensive detours to avoid the Suez Canal. That doesn’t bode well for Macao’s European imports.
Business
One industry expert reckons visitor numbers will be back at their pre-pandemic levels, filling the city’s hotels.
The overall residential property price index has dropped by almost seven percent in the Macao peninsula, when compared to last year’s figures.
That would take total gross gaming revenue to less than the official 216 billion patacas forecast, and is significantly less than what international firms predict.
While visitor numbers have bounced back by 70 percent, the airport only saw a touch over half its pre-pandemic passenger volume return in 2023.
The seven Macao outlets of trendy Hong Kong fashion chain Bauhaus are performing far better than its stores in Hong Kong itself.
For a city with such a long maritime history, Macao offers visitors few chances to experience it from the sea. That could change.
That’s more than twice the number of foreign tourists that the government has estimated will visit Macao in 2024.
The Macao peninsula’s massive, much-delayed mall will have its grand opening on 26 January, after a soft opening last month.