Tourism in Macau: MICE events up 29.8%

There were 1,011 events in the first nine months of the year.

Macau.- The number of MICE events held in Macau in the first nine months of the year was up by 29.8 per cent in year-on-year terms. There were 1,011 events, 94 per cent of the number in pre-Covid-19 2019. The sector generated MOP4.48bn (US$557m) in non-gaming revenue. That’s a rise of 5.4 per cent compared to the same period in 2023 (MOP4.26bn).

There were 943 meetings and conferences, an increase of 30.2 per cent in year-on-year terms. The number of participants grew by 12.7 per cent to136,000. There were 40 exhibitions down by four compared to 2023. Exhibitions drew 4,680 exhibitors and 28,295 professional attendees, down by 0.7 per cent and 9.2 per cent year-on-year, respectively.

Close to 41 per cent of events during the first nine months of the year revolved around commerce and management (409 events). Other topics included IT (108 events), tourism (108 events), and medical and health (97 events). There were 28 incentives, up by 17. The participant count grew by 16 per cent to 12,000.

For the third quarter, the number of MICE events grew by 16.7 per cent year-on-year to 300. MICE-driven receipts in the city’s non-gaming industries amounted to about MOP2.02bn (US$251m), down 17.3 per cent year-on-year but up 36.4 per cent quarter-on-quarter.

There were 276 meetings and conferences, up by 19 per cent year-on-year, while the number of exhibitions decreased by six to 14. These drew 1,685 exhibitors and 9,178 professional visitors. The number of incentive events doubled to 10.

Macau received 25,920,914 visitors in the first nine months of the year. That’s an increase of 30.1 per cent when compared to last year and represents 85.8 per cent of the 2019 level.

See also: Non-gaming spending up 8% in first nine months of the year

Gaming in Macau: government forecasts $29.7bn in revenue for 2025

Macau’s government has forecast MOP240bn (US$29.7bn) in gross gaming revenue for 2025. That compares to MOP216bn budgeted for this year. The estimation is part of the financial-year 2025 budget plan, which has been submitted to the Legislative Assembly. The proposed budget for 2025 anticipates overall revenue of MOP121.09bn (US$15bn) and expenditures of MOP113.38bn (US$14.1bn), resulting in a projected budget surplus of MOP7.7bn ($954m).

The Office of the Chief Executive stated that it expects the recovery momentum of the integrated tourism and leisure businesses for the next fiscal year to continue, with a continuous rise in inbound tourist volume. “Their travel and consumption patterns may see changes,” it noted.

The chief executive office added: “Considering all factors, the fiscal year 2025 gross gaming revenue is estimated to reach MOP240bn. Such is the principal fiscal income that serves as a foundation for the Macau Special Administrative Government in formulating the fiscal year 2025 budget plan.”