Macau Welcomes Almost 280,000 Tourists at the Start of the Chinese New Year

On Sunday, February 15, which coincided with the first day of the holiday period on the Chinese mainland, Macau recorded 132,428 arrivals. The Chinese New Year, falling on February 17 this year and extends over a nine-day holiday period on the mainland, concluding on February 23.

While the latest data from the Public Security Police did not provide a detailed breakdown of visitors’ origins, it is evident that a substantial number of tourists entered Macau through key checkpoints. The Border Gate checkpoint alone accounted for 111,494 arrivals, while the Hong Kong-Zhuhai-Macau Bridge facilitated 54,400 entries, and the Hengqin checkpoint welcomed 50,687 visitors.

In anticipation of the holiday rush, many hotel properties within Macau’s casino resorts have reported high occupancy rates. A survey conducted by GGRAsia revealed that numerous hotels had already sold out or were nearing full capacity for most nights throughout the holiday period.

Despite a noted slowdown in Macau’s casino gross gaming revenue (GGR) leading up to the Chinese New Year, banking group Citi has projected a positive outlook. They anticipate that the combined GGR for January and February will surpass last year’s figures by approximately 13.5%. The forecast suggests that the holiday season could provide a much-needed boost to the local economy.

Kenneth Feng Xiaofeng, the chief executive of MGM China Holdings Ltd, shared insights during an earnings call on February 5. He indicated that even in the current market climate, there has not been a significant decline in tourism demand leading up to major holidays.

To capitalize on the festive spirit, many businesses in Macau have ramped up their marketing efforts, offering special promotions and events designed to attract tourists. From extravagant fireworks displays to themed dining experiences.

As the holiday season unfolds, the tourism sector in Macau is poised for a promising year ahead. With the gradual recovery of travel and tourism, the gambling industry there are optimistic about the potential for growth. The Chinese New Year serves as a crucial indicator of the city’s ability to attract visitors and stimulate economic activity.