Macau tourism boost as Chinese province relaxes travel restrictions
Global gambling hub Macau received a welcome boost as neighbouring Chinese province, Guangdong agreed to lift quarantine requirements for visitors.
Travellers returning from Macau will no longer have to self-quarantine for two weeks.
It is a timely boost for Macau and the casino industry which is heavily reliant on mainland visitors.
It saw an uptick in the share prices of Las Vegas Sands Corp., Wynn Resorts Ltd. and other casino operators.
Wynn shares were up as much as 11%.
The quarantine rule by Guangdong has been in place since March to stem the spread of the pandemic.
Such is Macau’s reliance on tourism and gambling, its GDP plunged 49% in the first quarter of this year.
The gaming industry is currently losing an estimated $15 million a day.
Casinos have partially reopened but restrictions have kept mainland China and foreign visitors away.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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