Macau inbound package tours won’t return for now

Ho Iat Seng, Macau’s chief executive, said it will take “more time” for mainland Chinese authorities to resume tours to Macau.

Macau.- Inbound package tours from mainland China will have to wait for now due to a new outbreak of Covid-19 cases in Hong Kong and in the neighbouring province of Guangdong. Ho Iat Seng said that due to the current pandemic situation, he did not think mainland Chinese authorities would allow mass tourism to Macau anytime soon.

Ho said the Macau government is not considering relaxing its “zero epidemic” strategy. He explained that this approach is important to ensure the current largely quarantine-free travel arrangements with mainland China, the city’s main source of tourists.

Tourists from mainland China accounted for 93 per cent of arrivals in Macau during the recent Chinese New Year holidays. 

Macau casino investors’ wealth plunges due to Covid-19 restrictions

Forbes has released its annual rich list and several Macau casino investors have seen their wealth decline due to factors such as Covid-19 related travel restrictions. Analysts attributed the plunge to the drop in the investors’ net worth to Macau casino companies’ share prices.

Lawrence Ho, chief executive of Melco Resorts & Entertainment, saw the biggest drop, with his fortune falling 37 per cent year-on-year from US$1.99bn to US$1.25bn. He was followed by Lui Che Woo, chairman of Galaxy Entertainment, whose fortune plummeted 28 per cent to US$12.8bn.