General market recovery expected this year, however real estate executive warns ‘situation will not improve overnight’.
Business
Geopolitical crisis, the Covid-19 pandemic and interest rate hikes by major central banks take their toll, with the AMCM forecasting enormous challenges this year.
As it emerges from the pandemic, Macao seeks to position itself as a well-rounded destination, but there are obstacles according to Alidad Tash.
The average price of gasoline in the last quarter of 2022 hit nearly 14.3 patacas per litre, according to the Statistics and Census Service.
Rapid increases in gas prices on the international market are forcing hikes in Macao with commercial customers bearing the brunt.
But expert voices hope for a steady recovery with revenues for 2023 expected to reach around half of 2019 levels.
Macao will also give away 120,000 airline tickets in a“buy-one-get-one-free” deal for domestic and foreign passengers.
Rapid strides made in tourism and gaming prompt optimistic forecasts from analysts.
Fate of debt-laden property conceived by Hong Kong entrepreneur Stephen Hung remains in balance; creditors must register claims by end March.