Turismo: Shifting visitor demographics

jun25

Sands desiludida com os resultados em Macau no início do ano

Foi isso mesmo que Goldstein disse em Nova Iorque, na 41ª Conferência Anual das Decisões Estratégicas da consultora Bernstein, ao lamentar que o Grupo Sands seja o maior investidor em Macau e não esteja a ser recompensado com os retornos que ambicionava.

As palavras do líder do Sands são manchete esta manhã do jornal Tribuna de Macau. “Não tivemos um desempenho tão bom como poderíamos ter tido em termos competitivos e o nosso último trimestre foi decepcionante”, disse o CEO do grupo norte-americano. Nos primeiros três meses, os lucros da Sands baixaram 32%.

Ainda assim Goldstein também fez um ‘mea culpa’ ao dizer que a empresa precisa de ser mais agressiva num contexto marcado pelo aumento da concorrência interna e regional, bem como a ascensão do jogo online.

O gestor salientou ainda mais dois fatores que contribuem para estes resultados: a redução do consumo dos visitantes da RAEM e o fim do segmento junket.

Apesar destes resultados no início do ano, Robert Goldstein mantém-se positivo em relação à evolução do negócio em Macau.

O responsável da Sands disse estar optimista de que o território volte a movimentar entre 32 e 34 mil milhões de dólares em receitas de jogo, mas alerta que isso não acontecerá em breve. Atualmente, os casinos estão a ter receitas anuais entre os 27 e os 28 mil milhões de dólares.

https://www.plataformamedia.com/2025/06/03/sands-desiludida-com-os-resultados-em-macau-no-inicio-do-ano/

may25

The ‘she-economy’ has hit in Macao. What does it mean for tourism? 

• Women are reshaping the global hospitality landscape by focusing more on culturally immersive destinations, according to Agoda, an online travel platform

• Cementing the swing is the recovery of Mainland Chinese and South Korean visitors to Macao along with gender shifts in neighboring markets like Japan and Singapore

https://macaonews.org/news/business/macau-women-females-tourism-travellers/

may25

Entre Janeiro e Março, a despesa ‘per capita’ dos visitantes na RAEM desceu 13,2% em termos anuais, completando sete trimestres consecutivos com quebras homólogas. Num período em que os turistas internacionais superaram a média geral da poupança, os gastos totais dos visitantes, excluindo o jogo, baixaram 3,6% para 19,6 mil milhões de patacas, revelam dados oficiais

https://jtm.com.mo/local/gastos-de-visitantes-internacionais-sofrem-quebra-acima-da-media/

may25

‘Rapid shifts’ in visitor spending behind Macao’s shrinking GDP 

• The Statistics and Census Service has released revised figures detailing the SAR’s economic performance across the first three months of the year

• It attributed a year-on-year decline in first quarter GDP to ‘rapid shifts in visitor consumption patterns, preferences and demographics’

The DSEC noted that “volatility and challenges” were having a negative impact on the global economy, in part due to “increasing uncertainties in China-US relations.” Closer to home, it acknowledged that “rapid shifts in visitor consumption patterns, preferences and demographics” had weakened spending sentiment among visitors.

“The decline in visitor expenditure has exerted pressure on the local tourism industry, contributing to fluctuations in Macao’s economic recovery in the first quarter of the year,” DSEC’s statement read.

Ending on a positive note, the statement affirmed that – barring major changes – the SAR was “unlikely to face a cyclical economic downturn and is expected to sustain its recovery momentum.

https://macaonews.org/news/business/macau-first-quarter-gdp-macao/

 may25

Speaking to AGB during the G2E Asia conference held in Macau, Professor Zeng highlighted alarming trends that point to long-term challenges for the SAR’s gaming industry, suggesting that GGR may not return to pre-COVID levels in the foreseeable future.

Professor Zeng Zhonglu of the Gaming Research Team at Macau Polytechnic University

“The government expects monthly GGR of MOP20 billion ($2.5 billion), but figures for the first four months of 2025 have consistently fallen short,” he stated.

The causes, Zeng explained, are multi-faceted. A key factor is the weakening mainland Chinese economy and the resulting decline in consumer spending.

“Even though hotel occupancy has remained stable, the average daily room rates in mainland cities dropped by around 8 percent in Q3 last year. This indicates that tourists may be traveling, but they are spending less,” he noted. “This trend is reflected in Macau as well — per capita spending and retail sales among visitors have both decreased.”

Another critical concern is the evolving structure of Macau’s visitor base. Although overall tourist numbers have nearly returned to pre-COVID levels, the composition has shifted significantly. “We are seeing an increase in elderly travelers and those under 15, while the most economically productive age groups — particularly those aged 25 to 34 and 45 to 54 — are declining,” said Zeng.

In the first quarter of 2025, visitors aged 55 and over accounted for 28 percent of total arrivals, up from just 21 percent in 2017. The number of young dependents also rose, while mid-aged groups with higher spending power either stagnated or declined. “This demographic shift is not favorable for gaming or retail consumption,” Zeng warned.

This stands in sharp contrast to Las Vegas, where the share of younger adult visitors has increased in recent years, while the proportion of senior tourists has declined — a more favorable trend for gaming revenue.

Data from the Statistics and Census Service (DSEC)

According to AGB’s analysis, when comparing 2019 to 2024, the under-15 age group saw a 6.3 percent increase in tourist numbers. Meanwhile, the economically productive 25–34 age group declined by 25.7 percent, and the 45–54 age group fell by 21.2 percent. 

The elder demographic (>=65 years) experienced a notable increase of 21.4 percent during this period. This illustrates a modest rise in the youngest tourist demographic, a significant drop in key working-age segments, and a substantial growth in the number of senior visitors.

Zeng also emphasized that geographic proximity is influencing visitor behavior. “Visitors from nearby regions such as Zhuhai and Guangdong have surged due to relaxed travel rules. But the closer they live, the less they tend to spend — the novelty wears off quickly,” he said.

The academic cited survey data showing that while 60 percent of visitors from provinces beyond Guangdong would gamble in Macau, only around 23 percent of Hong Kong visitors and 40 percent of those from Guangdong would do the same.

On the issue of broader economic recovery, Zeng was cautiously realistic. “If the number of visitors continues to grow, it could partially offset declining per capita spending,” he said. “But the extent of that compensation will depend on China’s broader economic trajectory. Without recovery, spending will remain sluggish.”

Regulatory pressure and the end of the junket era

Although this is not a new issue, the scholar reiterated that the decline in GGR is also linked to increased regulatory pressure from mainland China, particularly the criminalization of cross-border gambling.

Zeng pointed to recent amendments to the criminal code that introduced a new offense — organizing cross-border gambling — which did not exist previously. “This legal shift has dismantled the traditional junket system that used to channel VIP players from the mainland to Macau. That channel has effectively closed,” he explained.

Even high-end mass market play, once seen as a potential substitute for the defunct VIP segment, has not matched previous spending levels. “According to data from Sands, high-end mass market customers have shown the most resilience, but this segment alone cannot make up for the absence of VIP revenue,” Zeng said.

Regional competition looms

Looking ahead, Zeng warned of intensifying regional competition. Japan’s integrated resort project in Osaka, set to launch operations by 2030, could attract a significant share of high-spending mainland tourists, particularly from northern provinces. “For travelers from northern China, Japan is not only closer than Macau but also offers diversified attractions such as shopping, dining, and cultural experiences,” he said.

In contrast, Macau faces physical limitations. “Most of Macau’s developable land is already in use. Future growth in hospitality and entertainment capacity will be constrained,” he noted. Some operators, such as Galaxy, have begun considering Hengqin as a spillover destination for accommodation and events.

Despite the rebound in tourist volume, Zeng cautioned against focusing solely on numbers. “Las Vegas has shown that targeting younger and more affluent segments is a more sustainable strategy,” he said. “Macau cannot rely solely on visitor numbers. Without improving the quality — particularly the spending capacity — of its tourists, the gaming industry will struggle to meet government revenue targets.”

https://agbrief.com/intel/deep-dive/12/05/2025/weak-spending-aging-tourists-weigh-on-macau-ggr-outlook-warns-expert/?utm_source=Asia+Gaming+Brief&utm_campaign=03fd454002-AGB%3A+%2302138+Tuesday%2C+13th+May%2C+2025&utm_medium=email&utm_term=0_51950b5d21-03fd454002-%5BLIST_EMAIL_ID%5D&ct=t%28AGB%3A+%2302138+Tuesday%2C+13th+May%2C+2025%29&goal=0_51950b5d21-03fd454002-%5BLIST_EMAIL_ID%5D&mc_cid=03fd454002&mc_eid=31e20475e6