{"id":7575,"date":"2024-07-19T05:14:18","date_gmt":"2024-07-19T05:14:18","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/07\/19\/macaus-ggr-set-for-rapid-recovery-during-tourism-surge-says-creditsights\/"},"modified":"2024-07-19T05:14:18","modified_gmt":"2024-07-19T05:14:18","slug":"macaus-ggr-set-for-rapid-recovery-during-tourism-surge-says-creditsights","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/07\/19\/macaus-ggr-set-for-rapid-recovery-during-tourism-surge-says-creditsights\/","title":{"rendered":"Macau\u2019s GGR Set for Rapid Recovery During Tourism Surge, Says CreditSights"},"content":{"rendered":"
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Macau continues to see a resurgence in visitor numbers as the region recovers from the COVID-19 pandemic. Credit research specialist CreditSights reports a steady increase in the amount of money wagered per visitor, now approaching 93% of pre-pandemic levels. Analyst David Bussey highlighted that the Gross Gaming Revenue (GGR) spend per visitor for January-May 2024 reached $841, a significant recovery from the $805 recorded during the same period in 2023.<\/p>\n

Optimism In Growth<\/h2>\n

Bussey noted the year-on-year growth, emphasizing that despite the favorable results, Macau has not yet surpassed its pre-pandemic heights. For instance, the 2019 GGR spend per visitor was $920. However, Bussey is optimistic that improved transportation and increased visitation will drive further short-term growth.<\/p>\n

CreditSights also pointed out that enhancements to travel frameworks are likely to sustain a steady flow of tourists from mainland China. The shift from a 7-day to a 14-day stay for multiple-entry business visas and the facilitation of tours between Hengqin and Macau within a week are expected to benefit the industry significantly.<\/p>\n

Despite its popularity among international tourists, Macau relies heavily on visitors from China,<\/a> who account for over two-thirds of all tourists. Consequently, the relaxed travel restrictions for Chinese nationals are anticipated to significantly boost the gaming economy.<\/p>\n

Bussey expressed confidence in Macau\u2019s ongoing recovery, predicting that the region\u2019s annual GGR will surpass government forecasts. While Macau anticipates a GGR of about $26.8 billion for 2024, it had already exceeded $14.2 billion by June. CreditSights\u2019 more optimistic projections suggest that GGR could reach $29.1 billion or more, marking a 28% year-on-year increase.<\/p>\n

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