In 2024, Macau’s gaming sector has shown significant resilience and recovery following the disruptions caused by the COVID-19 pandemic. According to recent research by the Fitch Group’s CreditSights division, the gaming gross revenue (GGR) per visitor has reached 93% of pre-pandemic levels, marking a crucial factor in Macau’s steady growth trajectory.
Visitor Spending Trends
Analyst David Bussey highlights that from January to May 2024, the average GGR spend per visitor stood at US$841, equivalent to 93% of the spend during the same period in 2019. This figure represents a notable increase from the US$805 recorded per visitor in 2023 but slightly below the peak of US$920 achieved in 2019. This rise in spending per visitor is pivotal as it underscores a robust recovery in consumer confidence and economic activity within Macau’s gaming and hospitality sectors.
Governmental and Policy Initiatives
Positive sentiment from mainland China has also bolstered Macau’s visitor numbers and spending. Measures such as streamlined online visa processing for residents of 20 mainland cities, extended lengths of stay for business visas, and enhanced travel flexibility between Hengqin and Macau have facilitated easier access for Chinese tourists. Mainland China, contributing approximately 70% of Macau’s visitors, has seen visitation levels at 81% of 2019 figures year-to-date, reinforcing sustained growth in visitor arrivals.
Market Growth Forecasts
CreditSights projects that Macau’s GGR for 2024 could surpass government forecasts, which initially predicted MOP$216 billion (US$26.8 billion). By June 2024, Macau had already reached MOP$114 billion (US$14.2 billion) in GGR, positioning it optimistically towards potentially achieving MOP$234 billion (US$29.1 billion) for the year. This forecasted 28% year-on-year increase exceeds the government’s conservative estimate of an 18% rise, indicating robust market dynamics and continued recovery momentum.
Visitor Arrivals and Tourism Impact
Preliminary figures from the Macau Government Tourism Office (MGTO) reveal a substantial rebound in visitor arrivals, with 16.7 million visitors welcomed in the first half of 2024. This represents a remarkable 43.6% increase compared to the previous year and signifies recovery to 82.5% of levels seen in the first half of 2019. Such resurgence in visitation underscores Macau’s appeal as a leading destination for gaming and entertainment in the Asia-Pacific region.
Macau’s gaming industry has demonstrated resilience and growth in 2024, supported by increased visitor spending, favorable governmental policies, and robust market forecasts. The recovery to 93% of pre-COVID spending levels per visitor indicates a strong rebound in consumer confidence and economic activity within Macau’s tourism sector. Looking ahead, continued improvements in visitation and spending patterns are expected to sustain this growth momentum, positioning Macau as a key player in the global gaming landscape.