Macau Visitor Spending Rises 8% YOY; Mainland China Still Dominant Source of Visitors

November 8, 2024 Macau Industry Updates

Macau’s tourism sector continues to recover strongly, with visitor spending reaching new heights in 2024. According to the latest data from the Statistics and Census Service (DSEC), total visitor spending, excluding gaming, surged by 8% year-on-year in the first three quarters of 2024, totaling MOP$56.21 billion (US$7.02 billion). This marks a significant recovery, with spending also up by 17.5% compared to the same period in 2019, before the pandemic disrupted global travel.

The substantial growth in visitor spending is closely linked to the remarkable increase in visitor arrivals. In the first nine months of the year, the total number of visitors reached 25.92 million, a 30.1% jump compared to the same period in 2023. Despite this surge, the average length of stay for visitors has seen a slight decrease, dropping by 0.1 days to an average of 1.2 days per visitor.

A notable trend is the rise in group arrivals, which saw a dramatic increase of 101.2%, bringing the total number of group visitors to nearly 1.5 million. This shift reflects the growing trend of organized travel, particularly from neighboring regions, where group tours are becoming more popular as travelers seek convenience and value.

In terms of spending behavior, visitors to Macau have shown a clear preference for shopping, which accounted for 45.6% of the total spending during the first three quarters of 2024. Accommodation followed closely behind, making up 25.5%, while food and beverage expenses accounted for 20.8%. These figures highlight the diverse nature of the Macau tourism industry, where shopping, dining, and lodging are the primary drivers of economic activity outside of gaming.

Interestingly, visitors attending performances and events in Macau showed the highest per capita spending, averaging MOP$5,211 (US$651). This group was followed by those attending conventions and exhibitions, with a per capita spend of MOP$4,439 (US$554). These figures underscore Macau’s growing reputation as a hub for international events, which attract high-spending visitors interested in cultural and business activities.

Mainland Chinese Tourists Still the Largest Source Market

While spending patterns have varied, mainland China remains the dominant source of visitors. Mainland Chinese tourists spent an average of MOP$2,487 (US$311) per capita in the first three quarters of 2024. Although this represents a 21.7% decline compared to 2023, it is important to note that spending is still up by nearly 40% compared to the same period in 2019, highlighting the resilience of this market.

Visitors from Hong Kong also showed a decline in per capita spending, with an average of MOP$1,078 (US$135), down 11.3% year-on-year. However, this group still exhibited an increase of 14.8% compared to 2019, reflecting a return to pre-pandemic spending levels.

Foreign visitors, particularly those from Southeast Asia, have seen a significant uptick in their spending. The per capita spending of foreign visitors in the first three quarters of 2024 reached MOP$2,244 (US$280), marking a 59.8% increase compared to the same period in 2019. Notably, Singaporean tourists led the charge, spending an average of MOP$2,812 (US$351) per capita, a remarkable increase of 59% over 2019.

Q3 Results: Visitor Spending Remains Strong Despite Minor Dip

In the third quarter of 2024, visitor spending showed a slight decline, falling by 6% year-on-year to MOP$18.42 billion (US$2.30 billion). This decrease was largely driven by a drop in spending from stay-over visitors, who spent MOP$15.58 billion (US$1.95 billion), down 7.6% compared to Q3 2023. The per capita spending in Q3 also saw a decline of 15.4%, reaching MOP$2,002 (US$250).

However, despite these declines, the Q3 figures still reflect strong growth when compared to 2019. Total visitor spending in Q3 increased by 21.2%, and per capita spending grew by 30.7%, demonstrating the ongoing recovery of the tourism sector and its resilience in the face of economic challenges.

The data from the first three quarters of 2024 paint a promising picture for Macau’s tourism industry. The combination of increased visitor arrivals, a diverse range of spending activities, and a growing emphasis on events and conventions position the region well for continued growth in the coming months.