Macau announces visa-free policy for 5 Gulf nations

The move is expected to benefit casinos as Macau aims to attract high-spending visitors.

Macau.- Citizens from Saudi Arabia, Qatar, Kuwait, Bahrain and Oman will be granted visa-free entry to Macau from July 16. The move is part of broader efforts to diversify tourism, but it’s believed that it will also benefit Macau’s casinos.

Sands China’s shares rose more than 5 per cent on Monday following the news, although they fell by 1.8 per cent today and are down by 2.7 per cent compared to a week ago.

Current arrivals from the Gulf are believed to be low, and aren’t even included in official statistics. All international long-haul markets together represented just 0.1 per cent of tourist numbers last year. However, the aim appears to be to lays groundwork for long-term growth in both tourism and investment. Macau’s Tourism Office has been promoting the city in Gulf markets, promoting awareness of halal-friendly services, as it aims to draw high-spending visitors.

Daily gross gaming revenue in early June was slightly below May, but financial institutions remain optimistic: Citi forecasts a 4 per cent annual increase in Macau’s gambling revenue. JPMorgan and UBS echo the optimism, highlighting infrastructure developments like the Capella Hotel.

Macau has been aiming to transition away from a gambling-centric economy. The city’s six licensed operators are collectively investing MOP130bn (USD 16bn) into non-gaming sectors, including healthcare, technology, and finance.