They accounted for 71% of arrivals before the pandemic, with another 19% coming from Hong Kong, according to the tourism board.
Register now for FREE unlimited access to Reuters.com RegisterCasinos have supported heady growth since 2002 when Macau opened the market to multiple operators.
Macau’s tiny population of 680,000 was nearly 70% richer on a per capita basis than their peers in Hong Kong, per the International Monetary Fund.
But their collective enthusiasm masks an awkward reality: Macau’s dependence on the gambling industry looks increasingly fraught.
Gaming revenue, which peaked at $45 billion in 2013, has never recovered from the blow to VIP business, sinking to $36 billion by 2019, per Macau’s Gaming Inspection and Coordination Bureau.