A new survey finds that many in the local food and beverage sector earn less than the average monthly wage.
Business
JP Morgan’s figures suggest the holiday saw higher daily revenue averages than any post-pandemic period to date.
The territory saw its highest daily visitor arrival total since the start of the Covid 19 pandemic, with mainland Chinese visitors in the overwhelming majority.
Some 5,000 workers arrived over the summer alone, with the overall total increasing by around 19,000 since the start of the year.
As it seeks to build up the non-gaming economy, Macao hopes to lure high calibre professionals to work in its emerging bond market and finance sector.
The company Macau Legend, which owns Macau Fisherman’s Wharf, is set to exit Cabo Verde and Cambodia by 2025.
Shopkeepers say there isn’t enough tourist traffic outside of the main sightseeing areas and add that visitors are spending less money than they hoped.
JP Morgan says the third-quarter result would have been even better without the stormy weather that swept Macao in September.
Analysts have been concerned about the bottom-line impact of the severe weather experienced in the month by Macao, which was battered by a typhoon and heavy rain.