Younger travelers in Macau are encouraging gaming operators to embrace cross-field innovation, according to Pansy Ho, Vice Chairman and Secretary-General of the Global Tourism Economy Forum (GTEF).
During a media briefing at the 10th GTEF, Pansy Ho emphasized that Macau should seize the opportunity of the Forum to promote its tourism and showcase the latest developments to the world. Simultaneously, the tourism industry can learn from other countries.
She pointed out that Macau’s tourism still heavily relies on mainland China, as Chinese tourists visiting Macau are getting younger and have a high demand for new experiences. In this context, gaming operators must work on more innovations, especially cross-field innovations aimed at creating diversified entertainment.
Pansy Ho is also the head of MGM China, one of the six gaming concessionaires in Macau.
During a media session, the businesswoman was asked about the impact of economic changes in mainland China on Macau’s tourism industry.
She stressed that mainland China’s economy was closely linked to Macau’s. Since the outbreak of the epidemic, foreign visitors to Macau have still been affected by the cost and accessibility of transportation. “Therefore, even though the economic downturn in the mainland has affected the spending power of local residents, it hasn’t caused too much concern for Macau,” stated Ho.
She noted that Macau’s recovery has been very rapid, demonstrating the city’s strong resilience. At the same time, Ho stated that the six gaming companies are “working diligently” to implement and plan next year’s investment and program activities, which are expected to bring about new changes and enhance the business development of Macau’s tourism industry.
Under the new 10-year gaming concessions, which began on January 1st, gaming companies have already committed to spending a total of MOP108.7 billion ($13.5 billion) on non-gaming activities and exploring overseas tourist markets. This figure accounts for more than 91 percent of their total pledged investment under the 10-year licenses.
This year, the GTEF attracted participants and delegates from 38 countries and regions, as well as 84 cities and provinces across mainland China.