Last month’s visitor totals reversed three consecutive months of decline – and hotels were able to benefit from the influx.
Business
The local government hopes issuances of both treasury and provincial-level bonds will become ‘routine practice’ as the SAR transforms itself into a modern finance hub.
The latest numbers from the Statistics and Census Service show that relatively few jobs were available in the gaming sector in June.
In a regulatory filing, the integrated resort operator said tourism in Macao showed ‘a robust recovery’ in 2023, after the ‘severely inhibited travel’ of the pandemic years.
While many economies are struggling with rapidly rising prices, Macao appears able to keep inflation in check.
A summer surge in visitor numbers is welcome news for the tourism industry but comes amid figures showing sharp falls in visitor spending.
In reporting its results, the company drew attention to the ongoing recovery of Macao’s gaming sector and ‘future opportunities for us to invest and grow.’
Chairman Lui Che Woo said the concessionaire’s “balance sheet continues to be exceptionally liquid and healthy.”
Per-capita spending by visitors is showing a steep decline from the first quarter of the year to the second, as tourists tighten their belts.