While many economies are struggling with rapidly rising prices, Macao appears able to keep inflation in check.
Business
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.
The Macao Trade and Investment Promotion Institute says the accolade is due to the city’s “concerted efforts to provide excellent conference experiences.”
Back after a three-year hiatus owing to the Covid-19 pandemic, the prestigious boat show is expected to attract thousands of big-spending attendees, organisers say.
Last weekend’s influx will give cheer to the tourism industry, which saw a seven percent fall in the number of same-day visitors between April and June.
Figures from the China Tourism Academy indicate more trips were made to Macao by mainland travellers than to anywhere else in the world during the first half of this year.