In its first year since the reopening of borders, Macao saw a 70 percent recovery in visitor arrivals compared to pre-pandemic 2019.
Business
Foreign and Taiwanese travellers will be eligible for the perk, in a bid to boost tourism via Macao’s sister SAR.
Macao’s casinos surpass 2023 revenue targets, triggering mandatory non-gaming investment hikes for operators in 2024.
Domestic exports in particular posted a major slide, decreasing by almost a quarter during the period from January to November in Macao.
A local labour group believes more regulations around gaming staff are needed to boost service quality and says staffers themselves are largely on board.
That’s the most optimistic projection made in the University of Macau’s economic forecast for 2024, but much depends on how many tourists the territory can attract.
The high number of visitors to Macao during the Christmas period bodes well for the start of 2024, according to some industry insiders.
Macao’s per capita GDP is well above many of its neighbours’, including Hong Kong, Taiwan, Japan and South Korea.
Average daily arrivals neared 110,000 across the four-day holiday, in an end-of-year boost to the local tourism industry.