Hong Kong-listed Landing International Development opened its Shinhwa World theme park at the end of September, as IR projects for the honeymoon island forge ahead despite the uncertainty caused by a diplomatic spat with China and tensions with the North.
Tourism numbers to the island have slumped following Beijing’s decision in March to ban all tour group travel to South Korea following Seoul’s decision to deploy a U.S. anti-missile system. More recently the accelerated pace of nuclear tests and bellicose rhetoric from the north has raised tension and had a further impact.
Tourist arrivals from China have fallen more than 48 percent in the eight months through August, according to figures from the Korea Tourism Organization. In the month of August, the most recent available, China arrivals were down more than 60 percent.
The number of Chinese tourists who visited Jeju from June 30 to July 6 was tallied at 9,386, about...
AstroPay is the pioneer payment solution for thousands of consumers in Latin America, Asia and Africa, who want to purchase online on international sites, that helps merchants access new markets through its main product, AstroPay Card.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.