Melco Resorts & Entertainment recently hosted a significant tourism roadshow titled ‘Glow Your Way to Macau’ at its luxury resort, City of Dreams Mediterranean, located in Cyprus. Organized by the Macau Government Tourism Office (MGTO), the event aimed to position Macau as a prominent travel, leisure, and business destination in front of an international audience. This roadshow was more than just a marketing endeavor—it was a strategic initiative to strengthen connections between tourism and MICE (Meetings, Incentives, Conferences, and Exhibitions) industries across Europe and the Middle East.
The event drew participation from key stakeholders, including officials from the Republic of Cyprus, representatives from the Macau Special Administrative Region (SAR) government, as well as influential travel agents and business associations from both Europe and the Gulf Cooperation Council (GCC) countries. This gathering highlighted Macau’s determination to build cross-border collaboration and expand its reach into new markets.
In light of this event, it’s essential to understand the evolving role of Macau in the global tourism industry and the strategic importance of Cyprus as a partner in this ambitious vision.
Background of Macau and Cyprus Cooperation
Macau is globally recognized for its rich blend of East-West cultural heritage and thriving tourism industry, anchored by its status as one of the world’s leading gambling hubs. As a Special Administrative Region of China, Macau has consistently sought ways to diversify its economy beyond gaming by focusing on tourism and MICE industries. It is against this backdrop that the collaboration with Cyprus—a country situated at the crossroads of Europe, Asia, and Africa—becomes even more relevant.
Cyprus, with its advantageous location, offers a natural gateway to European and Middle Eastern markets, which presents an unparalleled opportunity for Macau to extend its influence and attract new visitors. The City of Dreams Mediterranean, the first luxury resort of its kind in Cyprus, serves as a key asset in building this bridge of collaboration between the two regions.
The Event Overview: ‘Glow Your Way to Macau’
The ‘Glow Your Way to Macau’ tourism roadshow organized by the MGTO was a critical component of Macau’s broader strategy to boost tourism and business exchanges with Europe and the Middle East. This event aimed to showcase Macau’s capabilities not only as a leisure destination but also as a premier venue for international MICE events. The roadshow featured presentations, networking opportunities, and discussions on future collaborations between the various countries represented.
The event was attended by key figures, including Lawrence Ho, CEO of Melco Resorts & Entertainment, who emphasized the importance of having the Macau Government Tourism Office bring its delegation to the City of Dreams Mediterranean. Maria Helena de Senna Fernandes, Director of the MGTO, reinforced this view, highlighting the potential for the resort in Cyprus to serve as a bridge between Macau and its potential markets in Europe and the Middle East.
The participation of officials such as Andreas Gregoriou, Head of the Republic of Cyprus’ Presidency, underscored the strategic significance of Cyprus in these exchanges. He pointed out that the country’s strategic location makes it an ideal platform for Macau to explore new markets and potentially expand into both Europe and the GCC countries.
Macau’s Positioning as a Tourism and Business Hub
Macau’s positioning as a tourism and business hub has evolved over the past decade, driven by the government’s efforts to diversify its economy. Historically known for its robust casino industry, Macau has now shifted its focus towards becoming a top destination for meetings, conferences, and incentive travel. The Macau Government Tourism Office (MGTO) has actively sought to market the region as more than just a gambling mecca, promoting its cultural richness and modern infrastructure.
One of the key focal points of this strategy is to promote Macau as a hub for MICE tourism, leveraging its high-end resorts, state-of-the-art venues, and world-class connectivity to attract international events. The ‘Glow Your Way to Macau’ roadshow is just one example of these efforts in action, aimed specifically at fostering business tourism and cultural exchanges with European and Middle Eastern markets.
Macau’s allure lies not just in its luxury casinos and integrated resorts but also in its ability to host world-class events. It has successfully hosted events such as the Macau International Trade and Investment Fair, which further solidifies its position as a global business hub. Through initiatives like this roadshow, Macau aims to cement its reputation as a destination where business meets leisure on an international scale.
Cyprus as a Strategic Partner
Cyprus plays a pivotal role in Macau’s ambitions to expand into European and Middle Eastern markets. Its geographic location between Europe, Africa, and the Middle East makes it an ideal hub for connecting businesses and tourists from these regions. The City of Dreams Mediterranean resort, with its unique positioning as the largest integrated resort in Europe, allows Macau to use Cyprus as a launching pad for its international tourism expansion.
In his remarks, Andreas Gregoriou, representing the Republic of Cyprus, highlighted that Cyprus could serve as a strategic platform for Macau to explore new opportunities in the region. He expressed confidence in the potential for cross-promotion between the two destinations, further emphasizing how both regions can benefit from shared tourism and business exchanges.
This collaboration holds significance for both parties. For Macau, Cyprus represents a gateway to broader markets in Europe and the Middle East. For Cyprus, aligning with Macau’s tourism prowess provides an opportunity to tap into the Asian travel market and promote itself as a key Mediterranean destination for leisure and business travelers alike.
Impact of the Event on Melco Resorts & Entertainment
The tourism roadshow also aligns with Melco Resorts & Entertainment’s broader strategy to grow its presence in international markets. Melco, the operator behind City of Dreams Mediterranean, has seen a surge in revenue recently. The company reported a 22% increase in revenue in Q2 2024, highlighting its confidence in the resort’s future growth potential.
In addition to this revenue growth, Melco recently repurchased 8.33 million shares from its parent company, Melco International, for a total of $44.5 million. This move signals the company’s belief in the continued growth of its integrated resort offerings, particularly as it seeks to expand its footprint into European and Middle Eastern markets. The City of Dreams Mediterranean, as its flagship property in Cyprus, plays a crucial role in this expansion strategy.
By hosting the Glow Your Way to Macau roadshow at this venue, Melco is not only boosting Macau’s global profile but also positioning its Cypriot property as a hub for future international events and tourism exchanges.
The ‘Glow Your Way to Macau’ roadshow, hosted by Melco Resorts & Entertainment and organized by the Macau Government Tourism Office, serves as a key example of how cross-border collaborations can foster mutually beneficial relationships between tourism and business hubs. For Macau, this event marks an important step in its efforts to expand into new markets, particularly in Europe and the Middle East. For Cyprus, the partnership represents a strategic opportunity to tap into Asian tourism markets while promoting its own integrated resort as a premier destination for leisure and business.
As Melco continues to report strong financial growth, the future looks promising for further collaborations between Macau and Cyprus. Through ongoing events like this roadshow, both regions have the potential to deepen their ties and explore new avenues for tourism, investment, and business growth.
The long-term benefits of these initiatives are clear: greater international exposure, increased visitor numbers, and a stronger presence in global tourism markets for both Macau and Cyprus.