The Macau government is looking into opening up Macau to more tourists.
Macau’s Chief Executive, Ho Lat Seng, has stated that the government will investigate ways to allow foreign visitors to enter the region.
Since March 2020, when Covid-19 first began to affect the region, foreign entry into Macau has been restricted.
Despite some intermittent relaxation of rules between Macau and neighboring cities in Guangdong province and Hong Kong, the measure remains largely in effect.
Ho revealed the Government’s plans at a Legislative Assembly meeting, noting that Macau is currently only open to tourists from mainland China and Portugal (due to a seven-day quarantine requirement).
“The Government will study opening Macau to more foreign visitors,” Ho said, “but they must be quarantined after entry.”
“The Government is wary of any quarantine-free measures because Macau’s epidemic control policy must be consistent with China’s.”
The need for Macau to conform to mainland China’s policies, particularly its zero-Covid policy, has been largely detrimental to the region’s economic recovery.
“The government will investigate the possibility of opening Macau to more foreign visitors, but they must be quarantined after entry… The government is wary of any quarantine-free measures because Macau’s epidemic control policy must be consistent with China’s.” Macau’s Chief Executive, Ho lat Seng
Its most recent lockdown lasted until the end of July, resulting in an 84% drop in revenue month over month.
Despite the fact that Macau is now fully operational, there are still quarantine requirements for entry, and the region is still subject to China’s strict zero-Covid policy. It is unclear when or if mainland China will lift its zero-tolerance policy toward Covid.
What effect does this have on the attractiveness of investing in Macau? To find out, continue reading.
Is it time to invest in Macau?
Following the worst month for the Macau casino industry since the Covid-19 pandemic began, the Gambling Insider team debated whether now is a good time to invest in the gambling hub.
With stocks potentially low and an eventual uptick potentially significant, should investors consider the region more than ever right now – or are Macau’s struggles dooming it in the long run?
Click here to read the full debate on whether to invest in Macau.
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