Labor Day Hotel Occupancy Rates See Major Rise in Macau
According to data from the Macao Government Tourism Office, this represents a rise of at least 19% when compared to last year.
Hotel occupancy and gambling revenues grow as Macau celebrates Labor Day.
LISTEN TO THIS ARTICLE:This significant increase underscores a strong recovery in the tourism sector, reflecting growing visitor confidence and enhanced travel facilities. The data highlights not only a rebound from previous downturns but also suggests a sustained trend of growth as new attractions and improved services continue to draw tourists.
Huge Increase in Tourist Numbers
Roughly 3 million people entered and exited Macau over the five-day Golden Week holiday, according to the Public Security Forces of Macau, and 41% of these people were tourists. Inbound tourist numbers grew to 604,000, which is an increase of 22.5% when compared to the same period last year.
It wasn’t just hotel occupancy that was up, so was gambling revenue. Figures from the Gaming Inspection and Coordination Bureau (DICJ) show that Macau’s gambling market revenue in April reached MOP 18.545 billion ($2.3 billion), a 26% increase on the same period last year.
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Higher Revenues Possible in May
Mr. Ma Haowen, the Vice Chairman of Success Universe Group, which operates the “Ponte 16” casino project in Macau, expressed his satisfaction in the Chinese press regarding the hotel occupancy rates surpassing 90%. He highlighted the positive trend and optimistically noted that May’s gambling revenue might achieve the MOP 20 billion mark, setting a record high since the onset of the pandemic.
Related: China’s Bond Issuance in Macau to Boost Economic Diversification
Additionally, he attributed part of this financial upturn to the recent relaxation of visa regulations by China for travelers heading to Hong Kong and Macau. This policy change is anticipated to further boost tourism and gambling revenues. The improved travel conditions and subsequent increase in visitors are expected to sustain and possibly enhance the economic growth in the region.
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