A study carried out by the Talent Development Committee has found that “local human resources and the pool of qualified staff are in a situation of scarcity,” reports Radio Macau, contrasting with the high importance placed on talent development in nearby Hong Kong and Shenzhen. Unlike in these two cities, Macau keeps little data on talent development. The Committee suggests that the needs of professional sectors should be studied to determine the exact number of skilled workers required and in which roles. Furthermore, general studies about Macau’s demographics should be studied to create more reliable projections on the city’s labor force.
F&B, retail firms see rise in customers
Visitor numbers in the food and beverage and retail establishments recorded a 12 percent increase during the Chinese New Year period. According to a survey conducted by the Economic Services Bureau, some 55 percent of the 1,420 total establishments recorded an average increase of 32 percent in its foot traffic. Some 49 percent of the totaled surveyed shops recorded a 27 percent increase in its turnover, while 16 percent of these firms recorded a fall in its sales turnover. The most visited establishments were recorded in the city’s tourist areas including Cotai, Rua do Cunha, Largo do Senado and Rua de Felicidade, amongst others.
Forex reserves up 0.4 percent
The Monetary Authority of Macao announced that the preliminary estimate of Macau SAR’s foreign exchange reserves amounted to MOP164.3 billion (USD20.32 billion) at the end of January 2019. The reserves increased by 0.4 percent from the revised value of MOP163.6 billion for the previous month. Macau’s foreign exchange reserves at end-January 2019 represented 10 times the currency in circulation.