Gambling hub Macau set for major tourism boost
Casino operators in China’s biggest gambling city are breathing a sigh of relief, as tourist groups have been given the green light to visit.
Businesses have been struggling since Beijing implemented a crackdown on corruption, and the Covid-19 pandemic battered the world’s biggest gambling hub.
Tourism is a major pillar of Macau’s economy, and the return of tour groups from China is expected to provide a much-needed boost to the city’s struggling gambling industry.
Tourists will need to apply for a visa to visit the region. The scheme itself was responsibly for around half of all Chinese visitors to the territory in 2019.
Shares in Macau casino operators soared up to 13 per cent after the e-visa scheme was placed back on the cards.
Gambling from mainland citizens accounts for around 90 per cent of casino revenue across the region.
Many of these businesses have been struggling since the crackdown began, and the return of Chinese tourists is expected to help them recover some of their lost revenue.