The Economic Association of Macau predicts that the recovery of the local economy will already be felt in the first quarter of the year. After the Chinese New Year tourist boom, the association estimates that investments planned by concessionaires will protect Macau from the global scenario of recession and even the drop in consumption in Mainland China
The first three months of 2023 could mark the turning of the page after three years of economic paralysis in Macau and restrictions and isolation dictated by the fight against the pandemic. At least, this is the forecast of the Economic Association of Macau, indicated by the most recent Prosperity Index published yesterday, which foresees the continuation of the growth in the flow of tourists and the positive effects on commerce, restaurants and the tourism industry.
The report also indicates that Macao’s short-term economic outlook will benefit from the booming effect produced by tourism receipts during Chinese New Year. While in the long term, the investments that gambling concessionaires committed to when renewing licenses, particularly in the non-gaming segments, may be decisive in attracting foreign tourists.
Read more at: Hoje Macau
