Macau’s estimated GGR for 2024 revised

Shirley Pulis Xerxen 1 month ago
Macau’s estimated GGR for 2024 revised

As reported online by Macao News earlier today, Macau’s estiamted GGR will reach 239.9 billion patacas (€27.8 billion) in 2024. The forecast was made by brokerage firm CLSA after revising its previous estimate.

The revision in the estimate was the result of favourable tourist/visitor numbers so far this year. According to the news site, analysts confirm that Macau remains a favourite destination with Chinese visitors due to its close proximity. CLSA’s estimate is more optimistic than the forecast of the local government which is set at roughly 10% less.

April saw Macau welcome approximately 2.6 million visitors, a 75%increase from pre-pandemic levels in April 2019. April figures mark a 4.4% decline over March figures. In spite of the decline, April 2024 figures represent an increase of over 14% over the same 2023 period.

Macau’s global branding

Speaking during an event last week, deputy director of the Macao Government Tourism Office (MGTO), Cheng Wai Tong said that the MGTO has been working together with the six integrated resorts to put together in-person roadshows in various countries such as Malaysia, Korea, Thailand, Japan, and Indonesia. He mentioned that the MGTO has jumped on the social media bandwagon to showcase the region in its efforts to reach out to the widest audience possible.

The Tourism office, with the participation of the six IRs from Macao and other operators in the tourism sector including airlines and travel agencies will launch the “Experience Macao” three-day roadshow. from tomorrow. The event is being held in Bangkok and showcases Macao’s rich culture, cuisine and everything else the region has to offer.

Devonne Iao, Senior vice president of Sands China has said that the problem in the attempts to diversify the market lies in trying to accomplish too much and communicate too many messages to the market. He proposes a collaborative effort to establish a strong brand identity for Macao, centred around a clear overall message, key proposition, and selling point, and by working collaboratively on this, it would likely speed up their efforts.

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