MGM China Co-Chairperson and Executive director Pansy Ho said Thursday that Macau’s economy has recovered to between 60% and 70% of pre-epidemic levels, but still faces many challenges ahead.
Ho is a first-time member of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), which is now in session as part of the National People’s Congress. She spoke about the current situation in Macau during an interview in Beijing on Wednesday.
“Macau’s measures to prevent and control the epidemic are similar to those of the mainland, so it has recovered very well during the period since the resumption of customs clearance in January this year,” Ho said.
“Macau’s economy has recovered to 60% to 70% of its pre-epidemic level, but it will still face many challenges to recover its past economic performance, as there are still many travel options for mainland tourists and business visitors.”
Ho spoke of the re-tendering of Macau gaming licenses in 2022, stating, “The six licensed companies have pledged to invest heavily in non-gaming elements over the next 10 years to make Macau a more attractive tourist destination. The non-gaming elements will include MICE, sports and culture.”
She also noted that Hong Kong and Macau will work together more closely to develop their respective strengths and create a “one-way, multi-destination” travel experience, allowing visitors to visit both cities at the same time during holidays.
Ho is a first-time member of the CPPCC, while her brother, Melco Resorts Chairman and CEO Lawrence Ho, and Galaxy Entertainment Group Vice Chairman Francis Lui have been re-elected to the CPPCC this term.
The Chairman of Golden Dragon Group, Chan Meng Kam, was also re-elected to the CPPCC this year.
