MACAU BUSINESS
year-on-year in the second quarter of 2003 after a 13.8 per cent growth in the first quarter. But the territory quickly rebounded with a 21.7 per cent rise in the GDP in the July to September period; before finishing the year of 2003 with an increase of over 11.6 per cent in GDP. “Given the experience of SARS in 2003, the tourism
market had only resumed normal operation about three months after the end of the epidemic,” said Mr. Wu, adding he expects the market might show signs of recovery this time in June, in the best case scenario. “The Wuhan Coronavirus definitely deals a huge blow to the tourism industry,” he remarked. His group hopes the government will soon roll out
measures to ramp up the local economy, as the epidemic has affected not only the tourism industry but also the sectors of gaming, hotels, aviation and food and beverage. “But no measures will be effective before the spreading of this epidemic is curtailed,” he added.
Shortening hours
While the 15-day suspension of casinos and entertainment venues does not cover retail outlets and food and beverage businesses in the local mega resorts, some have followed suit or shortened operation hours due to the absence of customers. Technology giant Apple Inc has closed its two Macau outlets — located in Galaxy Macau and Sands Cotai Central, operated by Sands China Ltd — for a week starting from 5th February, and it is expected the two shops will remain closed for another week, in line with the shutdown of casinos, Macau Business has learnt. A 4th-February memo sent by the retail operation of Sands China to its retailers, seen by this magazine, noted the operations of hotels and shopping malls at its properties have remained normal, but suggested the tenants could change their opening hours and carry out daily temperature checks on their staff. Already afflicted by the slowing mainland economy, the local retail industry is expecting a deteriorating performance
26 MARCH 2020
amid the current epidemic. The city’s retail sales has dwindled for three consecutive quarters through the July to September period of 2019, the latest government figures show; with a 18.1-per cent decline in clothing in the third quarter, which was the largest drop since the second quarter of 2015. A store manager of a luxury clothing brand contacted
by this magazine for this story noted quite a few stores have shortened their opening hours since the outbreak and before the temporary shutdown of casinos. “This measure could also help cutting costs, with fewer staff manning the operation,” said the manager, who declined to be identified due to the company’s policy. “Many brands now don’t need their part-time sales assistants while also encouraging their full-time staff to take annual leave or un-paid leave.” The store manager noted the store has remained in
operation but the business volume has plunged by more than 80 per cent since the epidemic; adding: “I know some shops have chosen to suspend their operation after the casino shutdown. I could only pray this outbreak is temporary and the
business could rebound soon. Otherwise, I won’t be surprised if the luxury brands start to cut the headcount when the outbreak persists for months,” the manager added.
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