Visitation to Macau has climbed exponentially to new three-year highs over the first three days of the Chinese New Year “Golden Week”, but it is the next three that will determine how profitable the holiday period has been according to investment bank JP Morgan.
In a Wednesday note, JP Morgan analyst DS Kim described the average 61,166 people to have entered Macau over the first four days of Golden Week as “decent but not amazing” due to a higher mix of Hong Kong arrivals – 38% versus the usual 25% – who are more often day trippers with smaller wallets.
