Fitch Ratings Inc. has said that Macau’s economy could rebound after the impact of the Covid-19 pandemic.<\/p>\n\n\n\n\n\n\n\n
Macau.- Fitch Ratings Inc has said that it believes Macau\u2019s economy could rebound by 53 per cent this year. It believes Macau GGR could reach half of pre-Covid-19 levels.<\/p>\n\n\n\n
The forecase comes after a study by\u00a0the University of Macau that predicted the city could see economic growth of up to 33.5 per cent<\/a>\u00a0in 2021.<\/p>\n\n\n\n According to Fitch Ratings Inc, Macau’s recovery would be helped by\u00a0strong gaming and tourism recovery in the second half of 2021<\/strong>\u00a0if travel restrictions between mainland China and Macau are eased in the months ahead.<\/p>\n\n\n\n A gradual roll-out of Covid-19 vaccination programmes<\/a>, combined with a quarantine-free travel bubble will also play a key role in Macau\u2019s economic recovery.<\/p>\n\n\n\n However, Macau chief executive Ho Ian Seng has recently said\u00a0for now there are no plans to relax restrictions on non-resident foreigners<\/strong>\u00a0entering Macau.<\/p>\n\n\n\n Macau casinos registered a low performance in VIP GGR <\/strong>during the first quarter of the year 2021 at under 20 per cent of pre- Covid-19 levels<\/strong>.<\/p>\n\n\n\n According to JP Morgan<\/strong>, this was due to supply issues and reforms that impacted Macau’s junket operators<\/a>.<\/p>\n\n\n\n Macau\u2019s Gaming Inspection and Coordination Bureau (DICJ)\u00a0<\/strong>reported there are now only\u00a085 junkets operating in the Special Administrative Region (SAR)<\/a>.<\/p>\n\n\n\nMacau VIP sector down in 21Q1<\/h2>\n\n\n\n