Macau hotel sector reports US$794.4m deficit in 2022
The performance was due to the Covid-19 pandemic.
Macau.- The Macau hotel sector had a combined deficit of MOP6.4bn (US$794.4m) in 2022 due to the impact of the Covid-19 pandemic. Official data reveals that total receipts and expenditures amounted to MOP14.7bn (US$1.8bn) and MOP21.1bn (US$2.6bn), respectively. These represented year-on-year declines of 23.8 per cent and 7.1 per cent.
There were two new establishments, bringing the total number of hotels to 133. However, the number of employees in the sector fell by 4,401 to 35,749. Employee compensation remained the biggest expense at MOP10.14bn (US$1.2bn), followed by operating expenses at US$1.1bn. Macau’s visitor arrivals in 2022 were the lowest since 1999 at 5.70m.
The Macau Gaming Sector Survey 2022 reported that gross value added by the gaming industry in 2022 dropped by 51.6 per cent compared to the previous year to MOP30.37bn (US$3.76bn). The Statistics and Census Service (DSEC) reported a 72.8 per cent year-on-year decrease in the gross surplus of the gaming sector, with pre-tax earnings totalling MOP11.56bn.
