[WATCH] Macau in the year ahead, 2021
In this exclusive series, Alidad Tash, leading contributor to SiGMA’s Intelligence series and managing director of 2NT8 limited, opens up about Macau in the year ahead of 2021
Macau has been doing well in relation to the pandemic in recent times, with April being the last time a carrier was recorded. Since then, the cases have all been caught at the border.
This all boils down to their terrific, albeit draconian, restrictions and quarantine policy, which includes a 21 day hotel quarantine restriction.
Having said that, Macau has eased its travel restrictions for those travelling from inland China. Back in late September, restrictions were put in place allowing visitors to come in once passing their COVID-19 test.
When we look at the economic point of view for Macau, we can see that the economy struggled between Q2 and Q3 which is understandable since Macau’s main source of economic revenue is tied to the gaming industry. Revenues were down 95% around this time compared to 2019.
Once the borders were open in Q4, revenues went from 95% to 70% down.
Unfortunately, 2021 has not kicked off in the way many were expecting. Q4 saw revenues increase with many anticipating a rise in Q1 2021 but there has not been the same amount of growth expected. This is due to China’s flare up in COVID-19 cases which has effected people’s excitement to travel to Macau for Chinese New Year.
What can we expect for Macau in 2021, economic wise? Will there be demand for the vaccine from the people? Will it be a requirement to acquire a visa?
Watch the full video to find out:
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