The authorities have drawn up a formal structure for the supervision of the extensive non-gaming investments required of casino operators.
Business
The city’s international arrivals are still less than half of what they were before the pandemic, leaving Macao as dependent as ever on domestic tourism.
Macao’s authorities are aiming for an increase of almost 5 million visitors this year, when compared with 2023.
The US credit agency noted that the Bank of China’s local subsidiary provided a foothold for its expansion in the Greater Bay Area.
The investment firm also believes that revenue from the mass market segment will exceed the levels of pre-pandemic 2019.
Authorities say the surge is due to a rebounding economy and increased monitoring on the part of gaming operators.
Tourist arrival figures over the past several years indicate that the gap between Macao and Hong Kong is narrowing fast.
The Macau Economic Association warns that 2024 could be challenging however, given complex geopolitical factors and mainland China’s sluggish economy.
The luxury French department store is opening its first Macao branch within the new Treasure Island Resort World Shopping Centre.