The Macao Trade and Investment Promotion Institute expects to see a 50 percent increase in the city’s event schedule in the coming year.
Business
Beginning next year, authorities will take measures that professionals say will help with the rejuvenation of the sector and boost sales.
Macao’s aviation industry may be bouncing back, but the private charter flight sector is still lagging behind, with total flights only equivalent to 30 percent of 2019 numbers.
After Alvin Chau was cleared of fraud (though not a raft of other crimes), Macao’s gaming operators are no longer entitled to more than 2 billion patacas in compensation.
CEO Craig Billings said he saw ‘particular strength’ in the group’s mass gaming, luxury retail and hotel businesses in Macao.
The concessionaire just released its latest results, which included a dividend payment its chairman says demonstrates ‘confidence in the longer-term outlook of Macao.’
Prices in the Macao Peninsula went down by slightly less than their Taipa and Coloane counterparts. The only uptick is in pre-sale residential units.
Minimum wage workers in the SAR will see a pay rise from the beginning of next year, and perhaps another one in the not so distant future.
Kenneth Feng, president and executive director, said the operator was excited about Macao’s continued recovery and diversification.