Macau Breaks Visitor Record in August 2024 with an astounding 3.65 million tourists, cementing its status as a global hub for casinos.
Epic Visitor Surge in Macau
Known for its lavish casinos, Macau has seen a surge in popularity as a gambling hotspot. Nestled on the East China Sea, this city, recognized for its awe-inspiring architecture and Portuguese colonial heritage, smashed its visitor record in August, following two less-than-impressive months. As per the Macau Statistics and Census Bureau, an astounding 3.65 million people visited the city during that month, surpassing the count from August 2019 (3.62 million) and setting a new high, according to Macau's government.
Analysts from JP Morgan predict that the demand in Macau is performing better than feared and outperforming numerous other consumer sectors in China. "The demand in Macau is performing better than feared and outperforming numerous other consumer sectors in China," asserted JP Morgan's team in a message to clients, as reported by GGRAsia.
Spotlight on International Tourism
Of the tourists, 2.75 million hailed from mainland China, a significant increase of 18.5% compared to the previous year. Conversely, the number of visitors from neighboring Hong Kong dropped by 6.8%. The influx of international visitors swelled by 25.5% to 162,331, which is approximately 75.3% of the pre-pandemic level in 2019. The Macau government aims to attract more overseas tourists through social media campaigns in the future.
Macau, being a compact destination, relies significantly on events and festivals to entice tourists and keep the destination fresh in their minds. "Content is key, and we need to offer them extremely captivating content to ensure Macau remains top of mind," said Maria Helena de Senna Fernandes, director of the Macau Government Tourism Office (MGTO), in an interview with Macau Post.
Swift Revival from COVID
Macau was hit hard by the COVID-19 pandemic. Tourism contributes approximately 9.2% to Macau's gross domestic product (GDP) in a city home to nearly 700,000 people with self-governing rights.
Macau at a Glance
- Record-Breaking Visitors: 3.65 million in August 2024
- Core Markets: Mainland China (2.75 million), Hong Kong (663,449)
- Casinos and Tourism: Account for approximately 9.2% of GDP
- Top Attractions: Historic Centre, Portuguese colonial heritage, iconic casinos
- Tourism Boost: Subsidies for hotels and transport, new tourist routes
- Competition: Thailand and Japan are creating their gaming markets
While the city's casinos remained operative at the beginning of the pandemic, unlike most other businesses, they were later closed following a contentious decision. This decision proved disastrous for the city's finances. According to a study published in the scientific journal Cities, visitor numbers and casino revenues in April 2020 decreased by 99.7% and 96.8%, respectively, compared to April 2019.
The main driver of growth over the past two decades... almost came to a standstill as tourist flows dried up," stated the International Monetary Fund in a report on CNN.
Following the lifting of stringent measures, the coastal city, cherished by e-scooter riders, has bounced back remarkably quickly. It has already recorded 333% more income in 2023 than in 2022.
The Macau government, as per the East Asia Forum [Link in English], took proactive steps early on to stimulate tourist demand, primarily through partnerships with local businesses and the creation of new tourist routes. It seems likely that these preparations aided a more rapid recovery once travel restrictions were lifted. Moreover, the Macao Government Tourism Office (MGTO) initiated aggressive promotional activities in the Greater Bay Area, consisting of significant metropolises like Guangdong, Shenzhen, and Hong Kong, as early as the third quarter of 2022.
Escalating Competition from Other Asian Nations
Meanwhile, Macau, which transformed from a humble fishing village into a mega-gambling hub over time, faces competition from other Asian countries.
As some Southeast Asian countries aggressively develop gambling, there will almost certainly be competition for customers from these countries," said Wang Changbin, chairman of the Centre for Gaming and Tourism Studies at the Macau Polytechnic University, Macau Business.
Thailand, for instance, is moving towards legalizing gambling. The burgeoning Southeast Asian market, popular among tourists, has already attracted five of the world's largest gambling conglomerates, all of whom are now investing there. Japan is also exploring the gambling world, albeit with early challenges.
The recent news of Macau's visitor record break in August 2023, with 3.65 million tourists, has been widely covered in various media outlets.In the midst of escalating competition from other Asian nations like Thailand and Japan, Macau's latest news about record-breaking tourists is a significant boost to its reputation in the international tourism sector.
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