Macau: November GGR may reach just 30% of 2019 levels
Analysts have predicted that Macau’s GGR for November could be down by 70 per cent when compared to pre-pandemic levels, mainly due to travel restrictions and new cases of Covid-19 in mainland China.
Macau.- Analysts predict that Macau’s GGR will remain low in November. Morgan Stanley Asia Ltd forecasts that November GGR will be up 57 per cent month-on-month from MOP4.37bn (US$544m) to MOP6.9bn (US$860.9m) but down 30 per cent when compared to November 2019.
The figure recorded in October was the lowest monthly GGR of 2021, down 25.8 per cent month-on-month and 40 per cent year-on-year. It was below even August when the city recorded GGR of MOP$4.44bn (US$554.5m). Macau suffered an outbreak of local Covid-19 cases at the beginning of the month, which caused low tourist arrivals for October’s Golden Week.
Analysts said November’s figure will remain low mainly due to a recent Covid-19 outbreak in mainland China, which could spread to the neighbouring province of Guangdong. Sanford C. Bernstein Ltd also forecasts that November GGR may be down 60 per cent when compared to pre-pandemic levels. It doesn’t believe travel restrictions will be eased until next year.
Macau: daily arrivals show a steady rebound
However, the Macao Government Tourism Office (MGTO) has reported that average daily visits have shown a steady rebound. According to a press release issued at noon on Monday, 30,512 tourists visited Macau on Friday and 29,990 on Saturday.
The recovery started after Zhuhai eased restrictions for people who have travelled from Macau and will no longer require a 14-day quarantine.
Macau tourism office director Maria Helena de Senna Fernandes revealed the MGTO launched a campaign to promote the city as a safe destination. Mainland China continues to be the only country to have a largely quarantine-free travel bubble with Macau.
