Macau expects rise in visitor numbers for Chinese New Year
According to the Public Security Police Force of Macau, at least 5.5 million will make their way into and out of Macau.
Macau.- Forecasts indicate that at least 5.5 million travellers will enter and leave Macau during the Chinee New Year period. The Public Security Police Force of Macau has projected that numbers will return to levels seen in 2019.
Police representative Lei Tak Fai told Macau Business he expected a year-on-year increase of 3 per cent in visitor numbers. The peak influx is anticipated on Monday (February 12), with a daily average of 550,000 to 600,000 visitors.
Analysts from Morgan Stanley forecast a 4 per cent month-on-month increase in gross gaming revenue (GGR) for February, reaching MOP20 n (US$2.5bn), with a daily average of MOP691m. Historically, the Chinese New Year festivities have contributed to February’s gaming revenue growth, averaging 5 per cent month-on-month increases from 2016 to 2019, according to analysts Praveen K Choudhary and Gareth Leung.
According to industry reports, 80 to 90 per cent of Macau hotel rooms are already booked for the holiday period. Macau’s GGR for the first 4 days of February was MOP2.5bn (US$310.3m). The figure is similar to January, when the city saw a GGR of MOP19.34bn (US$2.4bn).
