New Covid-19 cases in Hong Kong could have negative impact on Macau
Andrew Lee, an analyst at brokerage Jefferies Hong Kong Ltd, said a new rise in Covid-19 cases in Hong Kong could delay the opening of new travel bubbles in the region.
Macau.- Macau’s economic recovery could be delayed by a new outbreak of Covid-19 cases in Hong Kong. According to Andrew Lee, an analyst at brokerage Jefferies Hong Kong Ltd, a rise in Covid-19 cases is “likely to get worse” and could delay the expansion of quarantine-free travel in the region, negatively affecting Macau’s gaming industry.
A few days ago, Macau health authorities stepped up Covid-19 measures for visitors from Hong Kong. People arriving in Macau via the Hong Kong-Zhuhai-Macau Bridge will have to wait at the boundary-crossing point for the result of a Covid-19 test, the results of which may take up to six hours to obtain.
Positive cases will have to isolate and go on through treatment at a dedicated clinical centre. Hong Kong’s Centre for Health Protection has reported 75,248 positive cases in the last 24 hours.
Hong Kong has historically accounted for 15 per cent to 20 per cent of Macau’s gaming revenue. However, Andree Lee noted that the importance of the Chinese market has grown since the Covid-19 pandemic started. Tourists from mainland China accounted for 93 per cent of arrivals in Macau during the recent Chinese New Year holidays.
