Pandemic control and economic recovery efforts to continue in the Year of the Ox – CE – Macau Business

The Macau SAR government efforts to control the pandemic to recover the local economy, Chief Executive Ho Iat Seng announced in his annual Chinese New Year message.

In the new year, the Macau SAR Government will continue to work hand in hand with all sectors of society to advance in adversity. We will firmly coordinate actions to prevent and control the pandemic and those of economic and social recovery, and make efforts to accelerate the development of adequate diversification of the economy, Ho noted.

Macau society has faced difficulties, united and in solidarity, and the socio-economic situation remains generally stable

The city is preparing to the Year of the Ox after a Year of the Rat marked by the Covid-19 pandemic and its impact in the local economy.

After a steady period of plunging visitor numbers gaming revenue, the local economy has shown signs of recovery, but with community outbreaks in some mainland China provinces prompting authorities to lower expectations for the Lunar New Year holiday period.

Gambling revenue increased by 3 per cent in January from the previous month to some MOP22.1 billionand financial report published by gaming operators for the last quarter of 2020 have so far showed a return to operational profits.

Visitor arrivals surged by 150 per cent from the third quarter to the fourth quarter of 2020, however despite a 30,000 per day average spike in the Christmas and NYE period, visitor arrival numbers are trending at about 20,000 per day, a number set to remain unchanged during the CNY period between February 11 and 17 and with hotel bookings trending at only 30 per cent.

Still, the start of the local vaccination plan on January 9 first for priority groups and later to the general population has brought hopes that as local immunization rates grow, the local economy will be able to gradually recover.

In his CNY message, Ho also thanked all frontline workers, namely health professionals, police officers, firefighters and the public administration workers team, as expressed sincere thanks to all the personalities of the different social sectors and to the residents of Macau for their efforts during last year.

The Year of the Rat says goodbye, taking winter with him, and the Year of the Buffalo comes with Spring. In this happy, peaceful and beautiful time, I want, on behalf of the Government of the Macau Special Administrative Region, to send my best wishes for a good Chinese New Year to all residents, Ho expressed

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Pandemic control and economic recovery efforts to continue in the Year of the Ox - CE - Macau Business