- Flexi Group
Asia round-up: Macau’s investment prospects as region plans for foreign tourism
Macau Government to investigate opening up Macau to more tourists
Macau’s Chief Executive Ho lat Seng has revealed Macau’s Government will study how to open entry to the region for foreign visitors.
Foreign entry into Macau has been restricted since March 2020, when Covid-19 first started to affect the region.
The measure is still largely in effect, despite some intermittent relaxing of rules between Macau and neighbouring cities in the Guangdong province and Hong Kong.
Ho revealed the Government’s plans at a meeting of the Legislative Assembly – noting that Macau is currently only open (under a seven-day quarantine requirement) to tourists from mainland China and Portugal.
Ho said: “The Government will study the opening of Macau to more foreign visitors, but they have to be quarantined after entry.
“The Government has reservations about any quarantine-free measures because Macau’s epidemic control policy has to be in line with that of China.”
The need for Macau to fall in line with the policies of mainland China, particularly its zero-Covid policy, has been largely detrimental to the economical recovery of the region.
Its latest lockdown lasted through the back end of July, leading to an 84% month-on-month drop in revenue.
Although once again fully operational, there are still quarantine requirements for entry to Macau and the region is still bound to China’s strict zero-Covid policy. It is unknown when or if mainland China will drop its zero-tolerance policy on Covid.
How does this affect the attractiveness of investing in Macau? Read below to find out.
Macau: Is now the time to invest?
Following the Macau casino industry's worst month since the Covid-19 pandemic began, the team at Gambling Insider has debated whether now is actually a good time to invest in the gambling hub.
With stocks potentially low and an eventual uptick potentially sizeable, should investors consider the region more than ever right now – or are Macau's struggles set to do it longer-term harm?
To read the full debate on whether to invest in Macau, click here.
Do you want to have your say? Click here to vote.