It seems that the Chinese New year has a serious effect on multiple financial industries. Some took serious hits in terms of volume and business frequency, but some were blessed by the holiday.
The ones finding themselves to be in the green are casinos and hotels in Macau. The increase in traffic was expected as many Mainland Chinese citizens flocked to the gambling hub of Asia. But it needs to be mentioned that even though the increase in traffic was expected, it was also an increase compared to last year’s celebrations. Macau has been showing a steady growth factor, which leaves everyone to question as to how they do it.
It is has been believed by CasinoCrunch that savvy marketing strategies have been used. Things like sponsorships and adsense. But very little has been covered in terms of sponsorships. So it is only natural to think that the increase in traffic is due to economic growth in Mainland China.
Better than 2018
Regardless of why the growth has been happening, it is still remarkable to see a more than 26% increase in visitation. Naturally, most of the visitors were Hotel customers, but nearly every hotel in Macau is also a Casino, therefore the revenue has definitely increased, although there is no information about it yet.
According to reports, starting from the first day of festivities more than 600,000 visitors entered the city. More than 70% of those visitors were from Mainland China. However, it needs to be noted that although the new Hong Kong – Zhuhai – Macau bridge helped with the influx of visitors, most of them still refrained from using it. The majority of the visitors game from the Gongbei border gate. Although it is a small indicator that the newly constructed gate was rather disregarded, we still have to wait for the golden week of Macau to truly determine, how valuable the bridge actually is.
A Healthy Market
GGRAsia conducted a survey of the 5-star hotels in the city and reported that nearly all of them were full during the festivities. Saying that visitors booked as much as a week or at least 4 days before their arrival. Overall, this was nothing but a display of a healthy market on the peninsula.
Since such large numbers are shown over a single week, it is only natural that the golden week of Macau coming later this year will see massive numbers as well.