Retendering21-22

 fev25 Further “upside” this year in Macau tourism arrivals from the Chinese mainland might “largely come” from mainland provinces “with lower GDP [gross domestic product] per capita” than the city’s core Chinese feeder markets, and so limit post pandemic recovery in gross gaming revenue (GGR). That is according to a Tuesday note from CreditSights Inc. The institution said Macau had seen so far this year “a faster recovery in visitor arrivals from Chinese provinces with higher GDP per capita (i.e., Guangdong, Jiangsu, Zhejiang, Beijing, Shanghai, Tianjin, etc.), which have already recovered… to pre-Covid levels.” But the CreditSights team added it thought “any further visitation upside from mainland China would likely largely come from the other provinces with lower GDP per capita, which may constrain the recovery of GGR per visitor”. Analysts Nicholas Chen and David Bussey also noted in their Tuesday memo a divergence in January between visitor volume – which  went up circa 2...

 MAR25 Fitch Ratings Inc forecasts Macau’s gross domestic product (GDP) growth to slow to 6.9 percent this year  from 8.8 percent  in 2024, as the city’s gross gaming revenue (GGR) “is likely to rise more gradually to roughly 81 percent of its 2019 level, after a rebound in 2024”. The commentary was part of a Tuesday report in which the institution affirmed Macau’s long-term issuer default rating at “AA”, with a “stable” outlook. In its latest report on Macau, a special administrative region of China, Fitch analysts George Xu, Jeremy Zook and Jan Friederich wrote: “We expect GDP growth to be supported by continued, but slower, gaming tourism recovery, along with favourable visa policies for mainland visitors, non-gaming investments and enhanced tourism infrastructure.” They added: “However, a sharp slowdown in the Chinese economy, such as from substantial U.S. tariff hikes, and sharp yuan depreciation pose downside risks to Macau’s prospects.” https://www.ggrasia.com/fitc...

 MAR25 Fitch Ratings Inc forecasts Macau’s gross domestic product (GDP) growth to slow to 6.9 percent this year  from 8.8 percent  in 2024, as the city’s gross gaming revenue (GGR) “is likely to rise more gradually to roughly 81 percent of its 2019 level, after a rebound in 2024”. The commentary was part of a Tuesday report in which the institution affirmed Macau’s long-term issuer default rating at “AA”, with a “stable” outlook. In its latest report on Macau, a special administrative region of China, Fitch analysts George Xu, Jeremy Zook and Jan Friederich wrote: “We expect GDP growth to be supported by continued, but slower, gaming tourism recovery, along with favourable visa policies for mainland visitors, non-gaming investments and enhanced tourism infrastructure.” They added: “However, a sharp slowdown in the Chinese economy, such as from substantial U.S. tariff hikes, and sharp yuan depreciation pose downside risks to Macau’s prospects.” https://www.ggrasia.com/fitc...