Mainland Chinese are the biggest spenders, followed by tourists from Taiwan and Hong Kong, with shopping topping the expenditure list.
macao economy
Nearly 40 percent of the government’s targeted gross gaming revenue for 2023 has been made in the first four months of the year, data shows.
Speaking at a Labour Day function, Lei Wai Nong also talked up the government’s record on workers’ rights despite international criticism.
Visitors to the territory over the long weekend don’t appear to have read the memo on Macao’s economic diversification.
However, the territory’s reserves still stand a long way off from the all-time high of almost 679 billion patacas recorded in 2021, figures show.
The agency also says Macao’s economy should recover by almost 50 percent this year as it captures ‘strong pent-up demand’ from mainland Chinese tourists in the wake of the pandemic.
Health services, financial services, technology and events are seen as essential secondary sectors to support Macao’s central activity of tourism.
The good news? More Macao companies plan to increase wages. But before you get too excited, hikes are expected to reach modest levels only.
Delegates in Beijing for the annual ‘two sessions’ gatherings are told that the central government will work to develop the local economy.
