May 1, 2008Macau received 7.5 million visitors in the first quarter of 2008, which was a rise of 17.9 percent against the same period of 2007.
The number of visitors from mainland China was 4.38 million, which was a rise of 22.6 percent, while the number of visitors from Hong Kong and Southeast Asia rose 3.3 and 63.3 percent, respectively.
Posted in Economy, Economy & Business, Macau General, Macau Government, Macau Tourism, Travel 
No Comments »
April 29, 2008The peg of the pataca to the Hong Kong dollar is an established policy of the Government and will not be changed for a long time, the Chief Executive, Mr Edmund Ho Hau Wah, said when he attended a plenary session of the Legislative Assembly this afternoon.
Mr Ho, who was answering legislators’ questions, said he understood that the increasing exchange rate of RMB had stimulated inflation; however, the pataca’s link exchange rate relationship with the Hong Kong dollar will not be changed in order to maintain financial stability.
Posted in Economy, Macau General, Macau Government, Macau Tourism No Comments »
April 28, 2008More than one rally which were originally planned to be staged on May 1 demanding measures to tackle illegal workers as well as soaring living costs could be called off after the Chief Executive announced the two-billion pataca subsidy for Macau residents on Tuesday, reports Macau Daily Times.
According to lawmaker and chief member of the New Macau Association, Au Kam San, the latest government announcement of distributing a one-time 5,000 pataca or 3,000 pataca subsidy to every permanent and non-permanent resident in July did “cool down the May 1 rally sentiment”.
Posted in Economy, Edmund Ho, Employment, Macau General, Macau Government, Social and Politics No Comments »
April 25, 2008Macau’s financial health is solid although there are some risks that make the territory vulnerable to external shocks, according to US ratings agency Moody’s Investors Service.
“Macau’s solid fiscal position has produced considerable public sector surpluses over the past five years and because it does not have any public debt that needs to be repaid, its budget surpluses are all saved,” said Steven Hess, senior credit analysts of Moody’s sovereign risk unit.
Posted in Economy, Economy & Business, Macau Business, Macau General, Macau Government, Social and Politics No Comments »
April 11, 2008The Macau government is waiting for approval from the central government in Beijing to begin works on the reclamation land projects which are expected to total an area of around five square kilometers.
The secretary for transport and public works, Lau Si Io, said the project plan is based on that of 2006, which the local government handed to the central government for appraisal and approval, which has now entered the final stage.
Posted in China, Development, Infrastructure, Macau General, Macau Government, Macau Property, Social and Politics No Comments »
April 5, 2008Macao registered a record high of 26,992,995 visitor arrivals in 2007, up by 23% over 2006; visitors from Mainland China and Hong Kong accounted for 55% and 30% of the total respectively. Mainland visitors travelled to Macao under the Individual Visit Scheme totalled 7,165,203, up by 24%. Visitor arrivals in package tours rose notably by 45% to 4,233,714.
In 2007, the number of Macao residents travelled in package tours dropped by 22% over 2006 to 212,107 and those travelled under individual arrangements using services provided by travel agencies increased by 4% to 386,927.
Posted in Cotai Strip Hotels, Hotel Macau, Macau Business, Macau Casino, Macau Gaming, Macau General, Macau Tourism, Travel No Comments »
March 30, 2008The world economy remained strong in the first three quarters of 2007, but the momentum tended to slowdown in the fourth quarter; however, the economy of Macau was not much affected due to the support from Mainland China. Driven by the rapid development of the gaming and tourism sector, investment surged substantially and local consumption remained robust; as a result, the economic growth for 2007 was far higher than 2006.
GDP of Macao for 2007 was estimated at US$19.20 billion, up by 27.3% in real terms and the per-capita GDP amounted to US$ 36,357. GDP for the fourth quarter of 2007 recorded an increase of 22.1% in real terms; meanwhile, the rates for the first and second quarters were revised downward from 25.7% and 31.6% to 25.2% and 30.8% respectively, but that for the third quarter was revised upward from 30.9% to 32.2%; for 2006, the rate of growth maintained at 17.0%.
Posted in Cotai Strip, Economy, Macau Business, Macau Casino, Macau General, Macau Government, Macau Investment, Macau Tourism No Comments »
March 29, 2008At the end of the fourth quarter of 2007, there were 44,743 paid employees engaged in the Macau Gaming Industry, up by 22.9% year-on-year. Analyzed by occupation, 30,486 were engaging in positions that are directly related to betting services, such as hard and soft count clerks, cage cashiers, pit bosses, casino floorpersons, dealers, betting service operators, etc., corresponding to a year-on-year growth of 34.5%; meanwhile, 5,341 were working as casino and slot machine attendants/hosts, security and surveillance workers, etc., down by 5.3% from a year earlier.
In December 2007, average earnings (excluding bonuses and allowances) for full-time employees in the Gaming Industry rose by 6.6% year-on-year to US$1,862. Average earnings for employees in positions that are directly related to betting services stood at US$1,867, up by 2.0% over December 2006. The average earnings for services and sales workers, including casino and slot machine attendants/hosts, security and surveillance workers, etc., increased by 10.9% to US$1,119.
Posted in Cotai Strip, Economy & Business, Employment, Entertainment, Macau Casino, Macau General, Social and Politics No Comments »
