Reports MACAU MARKET REPORT
The amendments are pushing for the development and promotion of non-gaming elements. As part of their licence agreement the concessionaries had to each collectively commit to spending around MOP16bn in additional non-gaming projects aimed at increasing international tourism, specifically looking at developing MICE business, maritime tourism, sporting events, entertainment, and themed amusements.
Te amendments are pushing for the development and promotion of non-gaming elements. As part of their licence agreement the concessionaries had to each collectively commit to spending around MOP16bn in additional non- gaming projects aimed at increasing international tourism, specifically looking at developing MICE business, maritime tourism, sporting events, entertainment, and themed amusements.
One of the problems with this process however is the lack of available land in Macau.
To solve this, Hengqin, an island three times the size of Macau, has now been identified as a special zone and is to be leased and administered by Macau to help cater for the bottleneck of non-gaming entertainment facilities.
Pre-2009, Hengqin was an undeveloped island inhabited by around 5,000 fishermen. Te original
48sq.km of land was extended by land reclamation and now covers
106sq.km and has changed from a rural area to a modern city with various resorts and parks including the Chimelong Ocean Kingdom amusement park which opened in 2012 and sees around 11 million visitors annually.
Te aim is to create the Hengqin-Guangdong- Macau cooperation zone by 2030. Still under Chinese rule gambling is prohibited but MICE and luxury hotel brands are moving in and there are already 8,000 hotel rooms with the potential to reach 100,000 rooms within 10 years.
Te push is to provide more budget-friendly hotels to offer an alternative to the expensive luxury hotel rooms in Macau. Of the 43,400 hotel rooms in Macau nearly 60 per cent belong to five-star category and 20 per cent are four- star category. Only five per cent are more budget friendly two-star inns or guesthouses.
Te Hengqin port opened in 2020 and is the first 24-hour border between Macau and mainland China. Galaxy Entertainment is planning a leisure resort development on the island on the
P58 WIRE / PULSE / INSIGHT / REPORTS
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164
