Thanks to the Masses Macau Enjoys Massive Growth
The world’s number one gambling destination, Macau, had another fantastic year in 2013 taking in $45 billion, 18.6% more than the year before. However, while in the past much of the growth has been thanks to mega-rich Chinese gamblers, last year’s growth was due to the Chinese middle class and their new access to Macau.The mass market Chinese tourists to Macau will generally spend anywhere from a couple of thousand up to one million Yuan.
However, even these small amounts have produced a massive increase in revenues. Furthermore, with just 4% of mainland China having visited Macau, there is still plenty of potential for further growth.
However, analysts are expecting growth to slow in 2014 and drop closer to 10% to 14%. This is because there are no new casinos opening in the coming year and many casinos and hotels are already operating at capacity.
Nonetheless, even if growth does slow, it should only be temporary. Wynn Macau is creating a $4 billion resort and the Las Vegas Sands Corporation is building a miniature Eiffel Tower which will host luxury retail outfits and a convention center.