The number of tourist arrivals to Macau during the three-day period encompassing the calendar New Year rose 8.5 percent year-on-year, to 356,812, according to data released by the Public Security Police.
The figures covered December 30, New Year’s Eve – December 31 – and New Year’s Day, January 1, the latter being a public holiday in Macau, mainland China and Hong Kong. This year, the two days prior to the public holiday fell at the weekend, which might have had some impact on the year-on-year comparison. In 2017, New Year’s Day fell on a Sunday.
Investment analysts have said that there need not necessarily be a correlation between headline numbers of visitors to Macau or even year-on-year increases in tourist arrivals, and the revenue performance of the city’s casino industry. The market is still thought to be skewed toward higher-end players that make an outsize contribution to casino gross gaming revenue. Tourists do however make up most of the players in the local gaming venues.
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”As the Macau gaming revenue structure is now leaning heavily towards the mass business … once the border fully reopens, the recovery from mass should drive the sector to bounce more swiftly”
Vitaly Umansky, Louis Li and Shirley Yang
Analysts at Sanford C. Bernstein