Macau Expects Stable Economy and More Casino Visitors in 2021
Macau, like many other places in the world, suffered a great deal in 2020 due to the coronavirus pandemic. It lost 75% of gross gaming revenue (GGR) and on many days, the number of visitors was in single digits. However, there is optimism that the year ahead will be far better.
The Macau Secretary for Economy and Finance, Lei Wai Nong, said in a statement that the region will have a “stable and positive” economy and there is hope that Macau will have a GGR of roughly $16.28 billion. He also pointed out that a large number of visitors are forecast and highlighted the fact that there has been an increase since mainland China began relaxing its travel restrictions towards the end of last summer. Thanks to this, there were as many as 30,000 visitors for New Year’s Eve.
In the statement, Lei said that they are hoping that visitors will stay longer this year to aid the region’s recovery,
“We are trying to keep mainland visitors to stay longer in Macau if the number of visitors does not increase greatly. We need to improve our services and products to make our visitors feel welcome and warm, and to attract them to visit Macau again.”
However, it is unlikely to be an easy task. With the coronavirus once again spiking around the globe, visitors to Macau from foreign countries need to have a negative coronavirus test that was carried out within 72-hours prior to arrival. Not only does this make last-minute trips much harder, but also, people are likely to be wary of traveling until the virus is brought under control.
There are also some concerns about new anti-gambling laws in China and how they will impact Macau. China has banned the promotion of offshore gambling facilities from within mainland China, and this may mean that Macau’s casinos cannot be advertised on the mainland.
I believe that we have to observe the mainland China law as well as Macau’s gaming law and the relevant gaming regulations. That is a must. We have been making adjustments to our gaming law … and on our anti-money laundering standards. We will continue to work well on those aspects so that our gaming industry can sustain a healthy development.
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