Hotel occupancy rate at 59.5% during May Golden Week

Industry figures indicated an average occupancy rate of 59.5% among local hotels during the mainland’s Labor Day Holidays, up by 28.8 percentage points compared with the rate in April. As of April 30, the supply of hotels and economical accommodation establishments totals 44,668 rooms in the city. Macau has welcomed a cumulative volume of 137,000 visitor arrivals during the Golden Week. The single-day record of inbound visitors peaked at about 42,000 on April 30, an all-time high in 2022. During the holidays, the tourism bureau conducted a total of 36 inspections targeting major ports of entry, tourist attractions and hotels. No sign of irregularities was discovered. 

Residents deposit slightly drops to MOP666b

Resident deposits dropped 0.3% from the preceding month to MOP665.9 billion while non-resident deposits also decreased 0.8% to MOP380.7 billion. According to the Monetary Authority of Macau, public sector deposits with the banking sector fell 0.6% to MOP263.1 billion.  As a result, total deposits in the banking sector dropped 0.5% from a month earlier to MOP1,309.6 billion.  Domestic loans to the private sector, meanwhile, decreased by 0.7% from a month ago to MOP558.2 billion, while external loans rose 6.8% to MOP794.4 billion.

UM teams win entrepreneurship competition 

Three teams from the University of Macau recently won prizes at the 2022 Bank of China Trophy One Million Dollar Macao Regional Entrepreneurship Competition. The winning teams will represent Macau in the grand final of the One Million Dollar Entrepreneurship Competition. This year’s competition received a total of 71 applications, covering areas as medical equipment, biotechnology, smart city, and financial technology.