E-payment critical to stimulate tourism development: GBA experts

Given the surging demand for cashless transactions, electronic payment is likely to significantly affect the development of the tourism industry in Macau, industry experts from the Greater Bay Area (GBA) predicted.
Last Friday, July 9, some big names from the e-payment and tourism sectors convened a meeting (held in a hybrid in-person and online format) to explore the development of e-payment and trends of regional integration.
During the event, the president of the Macao Institute for Tourism Studies (IFTM), Fanny Vong, addressed the media and guests to note that tourism and electronic payment have had close ties with each other as consumption is a necessary and crucial aspect of the entire tourist journey.
Electronic payment can enhance a person’s travel experience while they travel between locations in Macau, Vong added.
Vong stressed that considering that mainland holidaymakers, who are already well accustomed to mobile payment methods, are the largest source market for Macau, it is crucial for Macau to develop an e-payment system on par with China’s so as to meet the mobile payment needs of mainland tourists. She commented that Macau’s digital payment scene is already quite advanced.
The IFTM president also unveiled the institution’s plan to launch a graduate program focusing on the integration of tourism and technology aptitude in the academic year of 2022/2023, to cultivate local talent in the field so they are able to stay abreast of travel trends.
Apart from mobile payment methods, the president stressed that Macau should develop other advanced tourism-related technologies, such as augmented reality (AR) and virtual reality (VR) technology, to keep today’s travelers excited and engaged.
The hybrid meeting was convened at The Venetian Macao on July 9 by the Alliance for Developing Macao into Guandong-
Hong Kong-Macao Greater Bay Area Tourism Education and Training Base (Alliance).
The event attracted over 100 participants. They included authorities from the GBA governments, management of tourism, catering, retail, financial industries, and teachers and students of higher education institutions.
The organizers invited several key executives from the e-payment conglomerates in the region to deliver speeches, such as chief executive officer of Octopus Holdings Limited, Angus Lee, an executive of Tencent (Wechat Pay) and Benny Ho.
The Alliance was co-founded in 2018 by the then-Secretary for Social Affairs and Culture, IFTM, Macao Government Tourism Office, Education and Youth Affairs Bureau, Higher Education Bureau and nine higher education institutions in Macau.