The Macau Economic Association says that the overall outlook for the city’s economy is stable, although small and medium-sized businesses are still facing problems.
Business
However, the number of international tourists is still lagging and the average length of stay in Macao is slightly down, year on year.
No date or reason have as yet been given for the unconfirmed departure of the gaming conglomerate’s senior executive.
New data shows that non-gaming spending in 2023 was more than 11 percent higher than the figure registered in 2019.
It noted that Chinese consumers were favouring domestic tourism and the entertainment sector, boding well for the SAR’s casinos and overall economic recovery.
Forbes blamed diminishing gaming stocks for the removal of Ho, chairman and CEO of Melco Resorts and Entertainment, from its rich list.
Real estate associations are calling on authorities to liberalise the investment residency scheme to boost the city’s ailing property sector.
Plans for the Inner Harbour casino’s long-awaited addition have been submitted to the government for approval, its co-owner confirms.
According to a new survey, retailers in Macao’s residential districts fared poorly over the Lunar New Year, while those in tourist areas saw increased sales.