Analysts at Fitch Ratings Inc. have predicted that Macau’s gaming and tourism sectors recovery will gain steam in mid-2022.<\/p>\n\n\n\n\n\n\n\n
Macau.- Macau’s economy is slowly gaining momentum following continued disruption from the Covid-19 pandemic this year, and analysts believe the city will continue to recover in the upcoming months. The Fitch Ratings 2022 Outlook: Greater China report analyses Macau’s perspectives for 2022 and predicts a more stable recovery for\u00a0the gaming and tourism sectors.<\/strong><\/p>\n\n\n\n According to Fitch Ratings, Macau\u2019s economic growth rate in 2022 will increase from 25 per cent in 2021 to 36 per cent.\u00a0 Analysts highlight the impact of higher vaccination rates and the phased resumption of the electronic version of the\u00a0Individual Visit Scheme (IVS)<\/a>.<\/p>\n\n\n\n However, analysts noted that Macau is expected to maintain its explicit Covid-zero policy\u00a0<\/strong>and will prioritise the return of tourists from mainland China. As such, they noted that the recovery “will depend on China’s evolving cross-border tourism and gaming policies, which may be temporarily interrupted by the virus outbreak.”<\/p>\n\n\n\n They note that Macau’s gaming industry will continue to be the main source of income<\/strong> despite a recent emphasis on the importance of diversifying the economy.<\/p>\n\n\n\n Macau reported\u00a0gross gambling revenue of MOP6.75bn<\/a>\u00a0(US$844m) for November. According to the Macau Government Tourism Office (MGTO, between January to October, the city received 6.08 million tourists, up 32.2 per cent year-on-year. Macao Government Tourism Office director\u00a0Maria Helena de Senna Fernandes\u00a0<\/strong>has said the city hoped to have over 7 million visits by the end of the year. <\/p>\n\n\n\n She has predicted that Macau could receive\u00a0up to 10 million visitors in 2022<\/a>\u00a0if Macau finally reopens borders with Hong Kong.<\/p>\n\n\n\n