Macau’s Chief Executive has gone over details of the city’s aim to grow its MICE sector, in a sit down with China’s Vice-Minister of Commerce, Wang Shouwen.
The meeting took place in Beijing, following the top annual party encounter, the ‘Two Sessions’, where top brass laid out their economic and social goals for the upcoming years.
During the meeting with Macau’s Chief Executive, Ho Iat Seng, the officials noted that the MICE industry is ‘one of the most important in the diversification of Macau’s economy’, and that it has rebounded since COVID curbs were lifted.
The sector is now being boosted as new venues – such as Galaxy’s 16,000-seat arena and exhibition center – come online in the second quarter.
In addition, room supply continues to increase as the hotel industry overcomes its labor shortage.
But while the Cotai Strip continues to be Macau’s hub for MICE activities, the top officials are setting their sights on Hengqin for the next step in Macau’s evolution – encouraging the use of facilities on the island to boost the exhibition economy.
Macau has been mandated to diversify its economy away from gaming, something it’s been hard-pressed to do as the sector provides some 85 percent of government revenues.
