Macau enjoyed a healthy year-on-year bump in visitors during the Lunar New Year festivities but analysts are fretting over a sudden and significant rise in the price of transit visas on the Chinese mainland.
The Macau Government Tourism Office (MGTO) announced Thursday that over 963k visitors traveled to Macau during the weeklong Lunar New Year celebration that spanned February 15-21, up 6.5% from the number who visited during the 2017 event.
The final figure is below the 10% year-on-year rise Macau witnessed over the holiday’s first four days, as the daily average peaked at 185.5k on February 18. The second last day of the holiday saw annual growth fall to 2.8%, while the final day’s figure was 1.4% below the final day of the 2017 event.
The MGTO’s standard caveat is that there’s no direct link between visitation and casino revenue, in part because many VIP and premium mass gamblers give Macau a wide berth during the holiday to avoid the teeming masses of tourists.