Economic Association anticipating Golden Week

With visitor arrivals gradually resuming, the upcoming October 1 Golden Week is worth anticipating, the Macau Economic Association said in a statement.
The group cited the average daily visitor arrival figures to support its claim. After the extension of the validity period for the polymerase chain reaction (PCR) test for Macau-Guangdong travel to seven days, visitor arrivals have risen to an average of above 20,000 per day.
It added that if the Covid-19 situation in both Guangdong and Macau remains stable, visitor arrivals should keep increasing.
Meanwhile, the group estimates that the Prosperity Index from September to November will fall between 3.1 and 3.4 points. However, its estimation with regard to the August Prosperity Index is pessimistic, with the expectation that it may fall to 2.9 points due to travel restrictions in force through most of the month.
In addition, various economic data, such as gross gambling revenue, tourist arrivals and hotel occupancy rate, have plummeted. The group stressed that the M2 money supply in June and July fell about 2.5% year-on-year.
The association added that the rise in imports, albeit under the Covid-19 pandemic, has emphasized Macau’s status as a free port. AL

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