The seven-day long Chinese holiday which is a part of the Chinese New Year celebration has come to an end, and it seems that Macau has made record-breaking figures which that even higher than it was anticipated. Apart from making huge profits, Macau can also take pride in surpassing one million tourists, which happened for the first time. In other words, despite the ups and downs that this city faced during the last year, it seems that the effort has finally paid off and that they are seeing great results which will be even better in the future.
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What Are the Figures?
GGRAsia has published an official report on Monday, citing official data that they had received from the Macau Government Tourism Office. According to them, the city which approximately has 653,100 residents has managed to host a total of 1.21 million visitors during seven days, starting on February 4. When it comes to the year-on-year comparison, there was a significant increase of 26.6%. This exceeded all earlier predictions which stated that there will be a total of 1.04 million tourists visiting Macau which is a 9% increase compared to the last year. In other words, the Chinese New Year was celebrated in style!
Naturally, the majority of the tourists — somewhere around 899,000 — came from mainland China, which is also a 25.6% increase in year-on-year comparison. In fact, 21% of those tourists were very happy to take the new Hong Kong-Zhuhai-Macau Bridge which was opened recently and leads straight to the casino city.
According to some preliminary figures, Gongbei, the busiest entry point in the city, saw over 601,000 people entering Macau, and it admitted nearly all the tourists from the neighboring province of Guangdong.
On the other hand, Sanford C Bernstein and Company issued a report which states that the boost in revenue did not follow the boost in visitors. Eunice Lee, Vitaly Umansky, and Kelsey Zhu, who are analysts from Hong Kong, explained that in the first ten days of February, there was an enclave record set as there were average daily rates of $103.9 million. That said, the monthly improvement for February in year-on-year comparison is only about 5%, which is a lot less compared to the number of tourists.
The thing with Macau is that it makes most of its revenue from the regular high rollers who decide to stay away while there was a crowd in town during the Chinese New Year. With them gone, most visitors play casual games with normal bet sizes, which is why the number of visitors is rarely related to revenue in Macau. It is always nice to see that the city is becoming increasingly popular in China and across the globe.
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