Macau retail market hit by drop in tourist spending
Macau retailers have been hurting as tourists rein in their spending, official figures show. For the first quarter of the year, visitors spent MOP11.54 billion (US$1.44 billion) – excluding gaming – a 13.6 per cent year-on-year drop compared to the MOP13.36 billion for the same period last year, according to Statistics and Census Service (DSEC) data.
Shopping accounted for 43.7 per cent of spending, compared to 27.8 per cent for accommodation and 20.4 per cent for food.
Individual tourists spent MOP8.86 billion of the total, a 14.8 per cent drop, while tourist groups accounted for the balance, a 9.6 per cent drop.
Overall per-capita spend amounted to MOP1547, a 14.1 per cent drop. Business events (MICE) participants spent larger amounts – MOP3132, a 9.9 per cent rise. Visitors on holiday spent 19.1 per cent less, falling to MOP2177 per capita, while those who came for shopping spent 10.4 per cent less at MOP2074.
Per capita spending by tour group participants from mainland China, at MOP813, fell 5.5 per cent compared to the same quarter last year, while those from Singapore, at MOP556, increased 12.1 per cent.