The estimated return on investment (ROI) of the upcoming Macao International Parade is still unclear, director of Culture Deland Leong told a press briefing yesterday afternoon.
The press briefing was held to announce the organization of the parade this year, which will be held near the end of this month, unlike previous editions which were held on Dec. 20, the anniversary of the establishment of the Macau Special Administrative Region.
Leong was asked by the Times about the expected ROI and the estimated number of tourists attracted by the event. Her justification for not having an estimate of the ROI is that the event will be held in March for the first time, hinting that there is no precedent from which her team could take reference.
She added that her team would conduct an evaluation of the ROI immediately following the conclusion of the event.
On the question regarding the number of tourists, Leong also turned to the event’s March timing March to explain that she has no estimate for this either. “We are unsure,” she said, adding that her bureau would like to test the appeal of holding the event in March.
Despite the lack of estimated figures, the culture chief moved on to discuss the broadcast of the event to an audience within the greater bay area. It was announced at the press conference that a total of 100 million viewers will have access to the broadcast.
Various sources have cited that the six Singapore concerts of U.S. singer Taylor Swift are expected to generate a total of associated income ranging between USD380 million to USD500 million. It was also reported that concertgoers from across the region have filled or will fill most hotel rooms available in the city-state. Singaporean officials started talks with the singer’s management early last year.
In response to questions from the press, Leong disclosed that this parade will cost the government MOP7 million, lower than previous editions “because the six casino operators will be involved in sponsorships.”
The total budget is about MOP23.3 million.
In addition to sponsoring the event, the six casino operators will also see performers at the parade – totaling 1,800 people from 64 local entities and 15 to 20 external entities on a preliminary estimate – bringing activities to their premises.
The casino operators will also set up booths along the route of the parade to stage shows and activities “to enrich the program,” in Leong’s words. They will also help promote the event to their customers and visitors. Leong said that specific joint promotions will run at the operators’ discretion.
Leong also explained that the event was moved to March to create gaps in the event calendar.
According to the Cultural Affairs Bureau (IC), the parade is organized by the bureau, alongside Galaxy Entertainment Group, Melco Resorts & Entertainment, MGM, Sands China Ltd., SJM Resorts, S. A. and Wynn Resorts (Macau), S. A. and will be held on Mar. 24. The event aims to “celebrate the 25th Anniversary of Macau’s Return to the Motherland,” the IC added.
The event will bring about artistic performances of different styles and participating groups with conceptual themes, strengthening the synergy of the event, increasing promotional activities and pre-events in the community and historic districts, extending the influence of the parade.
This year’s parade will feature art groups from different countries and regions including Portugal, Brazil, Mozambique, the Togolese Republic, France, Spain, Norway, United Kingdom, Italy, Shenzhen, Hong Kong and Macau.
New categories have also been added for the local parade group this year, such as the “Parade of Large-Scale Artistic Installations,” which features portable installations such as gigantic puppets and delivery backpacks.
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