As the Golden Week holiday wraps up, statistics reveal that hundreds of thousands of tourists have descended to Macau and Hong Kong since September 29. Despite this, the numbers were only approximately 85 per cent of pre-pandemic levels.
Tourists Flock To Macau & Hong Kong For Golden Week
About 900,000 tourists descended on Macau, the largest gaming hotspot in the world, to take selfies in front of historical sites like Senado Square and gamble in the city’s casinos. According to executives who spoke on the condition of anonymity, the number of daily visitors has increased more than five times over last year during the eight-day national holiday, pushing hotel occupancy rates beyond 90 per cent.
The tourism bureau has asked hotel industry venues to optimise steps to handle peak passenger traffic, according to a statement from the Macau government. These include hiring more workers, providing shuttle buses, and setting up check-in desks.
About 80 per cent of visitors to the former Portuguese colony are from the mainland of China. Around 700,000 people are living in Macau, which is the only location where gambling at casinos is permitted. Analysts noted a return of more than 100 per cent in mass gaming revenues, but earnings in the coveted “big-whale” VIP category were only reportedly 15 per cent of prior levels.
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Compared to 2019, things seem to be pretty much in line with their predictions of a 100 per cent plus recovery in mass gross gaming revenue.
Around A Million Tourists Arrived
As per a Hindustan Times report, 1.4 million residents departed adjacent Hong Kong between September 29 and Wednesday while almost 1 million tourists arrived. Despite a 30 per cent increase in foot traffic, retailers reported similar sales to a typical weekend, indicating that some tourists were hesitant to splurge.
The market for branded products and luxury items in Hong Kong is mostly driven by tourists from greater China. However, since the outbreak, many people have altered their spending habits, choosing low-cost dining establishments and pastimes like hiking or swimming at the city’s numerous beaches.
Even though there was a steady stream of tourists, company growth lagged behind foot traffic, according to the chairperson of the Hong Kong Retail Management Association.
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On well-known Hong Kong shopping avenues that had 56 million visitors in the days before the pandemic in 2019, real estate companies report that about half of the units are now unoccupied.
Cover Image Courtesy: Canva
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