Amid slowing economic growth and the consequent impacts on tourism and other industries, businessmen in neighboring regions are taking measures to safeguard their business chances and lift sales figures. But Macau operators – mostly small-and-medium sized enterprises (SMEs) – are taking a more “positive” attitude to the downturn and even hope to benefit from it.
The recent statistics might have worried many businesses in the region as mainland economic data are showing more evidence of a slowdown, and in Macau where the economy heavily depends on the mainland, growth in tourist numbers has been on the weak side. Golden Week ended last Sunday, only barely attaining a slight increase and was way below the industry’s expectations of a huge rise in visitor numbers and spending due to the overlapping of the National Day holiday and the Mid-Autumn Festival that was regarded as a special driving force for tourism and therefore a golden chance for the retailers of souvenirs and eateries in Macau. The industries expressed disappointment over the sales during Golden Week when there was only single-digit growth.
In the mainland, a price war is starting in the travel industry as agencies try to secure more business at the start of a traditionally low season starting in October after the national holiday. However, the story is a
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