Retailers in Macau’s key tourism districts have voiced growing concern over weak consumer spending during the recent eight-day Golden Week holiday, despite a strong rebound in visitor arrivals, according to local media outlet Exmoo News.
The city welcomed 1.14 million visitors between September 29th and October 6th, averaging 143,000 arrivals per day — up 1.9 percent year-on-year. Total border crossings reached 5.54 million, representing a 2.2 percent increase.
Mainland Chinese visitors accounted for 82.4 percent of arrivals, followed by Hong Kong at 11.2 percent, with Taiwan and foreign tourists representing 1.4 percent and 5 percent respectively. The busiest day was October 4th, when Macau recorded 821,000 border crossings and 191,000 visitor entries — both all-time highs for the National Day holiday period.
Despite these positive traffic figures, many local merchants lamented that “crowds without spending” best describes the situation. Retailers and restaurateurs across popular tourist areas, including Senado Square and Rua da Felicidade, reported that sales were markedly lower than expected.
Lei Cheok Kuan, president of the Central and Southern District Chamber of Commerce, indicated that while foot traffic around landmark sites such as the Ruins of St. Paul’s was impressive, “tourists’ spending power was much weaker, even worse than during the May Day holiday.” He said the downturn was “disappointing,” given earlier optimism fueled by the mainland’s recovering stock market, which had been expected to lift consumer sentiment. “It’s not just my jewelry store. Many restaurants and shops nearby reported similar declines,” Lei added.
He attributed the subdued consumption to two main factors: a generally sluggish mainland economy that has dampened tourists’ confidence, and a generational shift in spending behavior. “Younger visitors — the Gen Z group — have different expectations. Their consumption standards are higher, and Macau’s retail offerings have not fully kept pace,” he said.
Lei also commented on the city’s first trial of a temporary pedestrian zone in the Rua dos Ervanários and Rua de São Paulo area. While the initiative was intended to draw crowds and encourage spending, results have been mixed. “Some distinctive eateries and boutique shops with strong online followings performed well, but others struggled,” he said, stressing that merchants must now focus on improving product quality, service, and hygiene, while learning to attract online traffic. “Without adapting to new consumer habits, it will be very hard to survive.”
On the hospitality side, hotel occupancy during the holiday was strong. Macau Hotel Association president Jocelyn Wong said that resort hotels along the Cotai Strip were “fully booked” throughout the period, while older city-center hotels faced intense competition. She noted that policies such as “multiple-entry visas” and “group travel facilitation” had supported tourism but urged authorities to host more events in non-core areas such as Tap Seac Square and Lotus Square to spread visitor flow.
Wong added that the city’s hotels remain heavily reliant on mainland guests and called for broader efforts to attract Southeast Asian and other international travelers. With several major events scheduled for the year-end period, she expressed optimism that hotel occupancy rates would remain healthy.
