Visitor expenditure drops 40% in Q3

Total visitor spending (excluding gaming expenses) dropped 39.7% year-on-year to MOP2.90 billion in the third quarter, dragged down by a 50% decline in visitor arrivals amid the pandemic. Total spending from overnight visitors (MOP2.63 billion) and same-day visitors (MOP264 million) fell 37.6% and 54.6% year-on-year respectively.Data from the Statistics and Census Service showed that in first three quarters of this year, total visitor spending was MOP13.34 billion, down 26.5% year-on-year. Visitors spent primarily on shopping, accommodation and food and beverage in the third quarter.

Macau banks’ int’l business share falls in Q3

The proportion of international business in Macau’s local banking sector fell in the third quarter, the SAR’s monetary watchdog said on Friday. According to statistics from the Monetary Authority of Macao, the share of international assets in total banking assets decreased to 84.7% at the end of September from 85.5% at the end of June, while the share of international liabilities in total banking liabilities fell to 82.4% from 83.3%. At the end of September, total international assets decreased 5.8% from last quarter to 2,077.8 billion patacas.

Chinese and Portuguese artistic works exhibited

An exhibition displaying works by artists from China and Portuguese-speaking countries (PSCs) opened Friday. The exhibits range from paintings and sculptures to photographic works by nine artists from several countries. The exhibition is part of the cultural week for China and PSCs held in Macau, aiming to showcase the countries’ unique charms and help consolidate Macau’s role as a center for cultural exchange between China and PSCs, according to the Permanent Secretariat of Forum Macao, a forum for economic and trade cooperation between China and PSCs. The exhibition will last until Dec. 11.