AGP Executive Report

Economic Outlook: Macao’s GDP grew 2.9% in the first nine months of 2026, but expansion slowed to 0.1% in the third quarter as gaming-service exports fell 4.8%. Other tourism services rose 6.6%. Hotel guests slipped 0.9% year on year to 10.81 million, while room occupancy reached 90.7% and foreign guests increased 10%. Culinary Spotlight: Macao hosts the Bocuse d’Or Asia-Pacific for the first time on November 1 and 2, bringing eight chef teams to compete for places in the global final and boosting the city’s profile as a Creative City of Gastronomy. Macao–Portugal Ties: The University of Macau and the University of Lisbon held their first joint medical symposium, drawing about 150 participants to discuss medical education, research and healthcare innovation. Greater Bay Area Culture: A month-long arts festival opened in Shenzhen, with events across all 11 GBA cities, including Macao. The city will also host an international forum on mutual learning among civilizations on November 9 and 10.

Economic Outlook: Macao’s GDP grew 2.9% in the first nine months of 2026, but expansion slowed to 0.1% year-on-year in the third quarter as gaming-service exports fell. The overall unemployment rate eased to 1.8%. Tourism: Hotel occupancy averaged 90.7% in the first three quarters. International hotel guests rose 10%, even as total hotel guests slipped 0.9%. Community Spending: A government rewards scheme expands from November 1 to December 31, offering discounts to encourage residents and visitors to spend in local businesses. Regional Links: Shenzhen hosts the APEC CEO Summit on November 17–18, with Greater Bay Area development among the agenda topics. Cultural Exchange: Macao’s International Forum on Mutual Learning among Civilizations is set for November 9–10, with discussions on China–Portuguese-speaking countries ties and culture in the AI era. Travel Access: An IATA survey presented in Macao found 43% of international travelers had avoided a destination because of complex entry requirements; 58% had used airport biometrics, with 87% satisfied.

Economic Growth: Macao’s economy grew 2.9% in the first three quarters of 2026, but third-quarter growth slowed to 0.1%. Tourism services rose while gaming-service exports fell 4.8% in the quarter. Tourism: Visitor arrivals reached 32.18 million through September, up 8.5% year on year. Hotel occupancy averaged 90.7%, though guest numbers slipped 0.9%; international hotel guests increased 10%. Jobs and Spending: Local unemployment fell to 2.3% in July–September. Retail electronic payments rose 13.3% in the first nine months, compared with 2.2% growth at restaurants. Diversification: The government is expanding community spending rewards from November, while six gaming concessionaires have committed a combined US$1.1 billion to a new MOP20 billion fund aimed at broadening the economy.

Community Spending: Macao will expand its rewards scheme from Nov. 1 to Dec. 31, offering discount packages to encourage residents and visitors to shop in local neighbourhoods and attend designated events. Urban Renewal: A government survey of 292 buildings in the old Laahn Gwai Lau area starts next week, gathering data to guide maintenance and renewal work. Gaming: MGM China reported record third-quarter revenue of about HK$8.9 billion and a 17.1% share of the local gaming market, despite a citywide slowdown. Tourism: Visitor arrivals rose 8.5% to 32.2 million in the first nine months, while gaming revenue increased 3.2%. Regional Links: Trade between mainland Greater Bay Area cities and APEC economies reached a record 5.58 trillion yuan in the first three quarters, up 26.7% year on year. Macao Chief Executive Sam Hou Fai pledged to align the city’s work with national development priorities.

Urban Planning: Macau’s government has submitted its final proposal to amend the 2020–2040 master plan, paving the way for district development plans and changes tied to a tourism and culture zone, a science park and an aviation hub. Gaming: MGM China posted a record third quarter, with revenue up 5% to about HK$8.9 billion and a record 17.1% share of Macau’s gaming market, despite a citywide slowdown. Education: The University of Macau and the University of Lisbon are advancing plans for joint clinical medicine degrees and wider research collaboration. Tourism: At a Macao tourism forum, Pansy Ho urged destinations to make travel more people-focused and encourage itineraries combining multiple stops. Regional Cooperation: A Greater Bay Area business event in Hong Kong brought together about 430 participants to explore opportunities under China’s next Five-Year Plan.

Urban Planning: The government has presented its final proposal to amend Macao’s 2020–2040 urban master plan, making way for three major projects in tourism and culture, research and development, and aviation. District development plans are expected to follow. Tourism: Visitor arrivals rose 8.5% to 32.2 million in the first nine months of 2026, while gaming revenue grew 3.2%. Air Travel: At a Macao-hosted aviation symposium, IATA urged the industry to link digital payments, identity checks and AI tools to make journeys smoother and strengthen airline finances. Culture: Jackie Chan will make his opera-directing debut with a new “Turandot” production that blends Puccini’s classic with Chinese martial arts and modern visuals. Community: A local health group is calling for stronger dementia support, including better health education, more care facilities and expanded home and respite services for seniors.

Travel & Aviation: IATA urged airlines to connect AI, digital payments and biometric identity to make journeys smoother and strengthen finances at its symposium in Macao. Greater Bay Area: Guangdong launched paperless online business registration for Hong Kong and Macao investors across nine mainland GBA cities. Tourism & Economy: Macao welcomed 32.18 million visitors in the first nine months, up 8.5% year on year; gaming revenue rose 3.2%. Economic Diversification: The government signed agreements with six integrated resort operators to establish a MOP20 billion guidance fund, backed by MOP9 billion in private funding. Public Policy: The 2027 budget, including cash payouts, has advanced to review. Tourism Forum: The Global Tourism Economy Forum in Macao concluded with around 1,300 participants from 30 countries and regions, and more than 8.6 million online views.

Travel and Technology: Macao is hosting aviation leaders at the IATA World Financial and Passenger Symposium, where speakers highlighted AI trip planning, digital payments and biometrics as ways to improve travel. Tourism and Gaming: Visitor arrivals rose 8.5% to 32.18 million in the first nine months, while gaming revenue grew just 3.2% to MOP187.12 billion. September arrivals jumped 15.9%, even as gaming revenue fell for a fourth straight month. Economic Diversification: The government and six gaming concessionaires have agreed to establish a MOP20 billion guidance fund, with MOP9 billion in private backing, to support diversification. Connectivity: Vietravel Airlines plans to launch direct Hanoi–Macao flights on November 29 as it expands its network. What’s On: November brings a packed calendar, including the 73rd Macau Grand Prix from November 19 to 22, alongside a new city culture festival and events marking the 160th anniversary of Sun Yat-sen’s birth.

Policy and Investment: Chief Executive Sam Hou Fai will deliver Macao’s 2027 Policy Address on Nov. 16. The government has signed agreements with six integrated resort operators to establish a MOP20 billion guidance fund, with MOP9 billion in private backing, to support economic diversification. Tourism: Visitor arrivals rose 8.5% to 32.18 million in the first nine months of 2026. Vietravel Airlines plans to launch a direct Hanoi–Macao route on Nov. 29. Gaming: CreditSights says it is too early to call the sector’s recent softness structural, and sees October revenue as a key gauge of whether Macao can meet its 2026 target. Events: November’s calendar includes the Macau Grand Prix from Nov. 19 to 22 and a new City Culture Festival from Nov. 14 to 22. Melco’s Tsingtao Beer Carnival is also running at City of Dreams through Nov. 22.

Tourism & Mobility: Uber says active passengers from mainland China rose 130% during Golden Week, with the Ruins of St Paul’s, Macau Tower and the Science Centre among popular stops. Culture & Events: A Tsingtao Beer Carnival at City of Dreams runs until Nov. 22, promoting Macau-Qingdao exchanges; next month’s calendar includes the Macau Grand Prix and a new city culture festival. Sport: Macau’s Ethan Frederico de Sousa won silver in cadet slalom at the FIA Asia-Pacific Motorsport Championship, as the city made its debut. Government & Economy: Chief Executive Sam Hou Fai will deliver the 2027 Policy Address on Nov. 16. A new MOP20 billion government guidance fund is backed by MOP9 billion from the six casino operators. Regional Links: A Greater Bay Area business conference in Macau facilitated more than 70 business-matching sessions to help companies reach overseas markets. Tourism Outlook: Visitor arrivals rose 8.5% to 32.2 million in the first nine months of 2026.

Tourism: Macao’s 12th Global Tourism Economy Forum brought together about 1,300 delegates from nearly 30 countries to discuss resilience, inbound travel, cultural tourism and sustainability. Policy: Chief Executive Sam Hou Fai will deliver the 2027 Policy Address on 16 November, followed by a public press conference and lawmakers’ questions the next day. Economic Diversification: A MOP20 billion Government Guidance Fund is now operational, combining MOP11 billion in public funds with MOP9 billion from six integrated resort operators to support emerging industries and research commercialisation. Trade: Macao’s three major trade fairs drew more than 90,000 visits and generated about 140 agreements, with most linked to the city’s diversification priorities. Visitor Growth: Arrivals rose 8.5 percent to 32.18 million in the first nine months of 2026. Culture: The Lusofonia Festival and China–Portuguese-speaking countries arts festival brought nearly 690 performers together for almost 50 programmes.

Economic Diversification: Macao has launched a 20-billion-pataca Government Guidance Fund, with 11 billion from government reserves and 9 billion pledged by the six integrated resort operators to support economic development. Tourism and Trade: Visitor arrivals reached 32.18 million in the first nine months of 2026, up 8.5% year on year. The MIF, PLPEX and Macao Franchise Expo drew more than 90,000 visits and resulted in about 140 signed agreements. Culture and Community: The China–Portuguese-speaking Countries arts festival and Lusofonia Festival brought nearly 690 artists together for almost 50 programmes. Macao’s Maritime Festival also opened, attracting more than 4,500 visitors to its first day of activities. Public Health: The Health Bureau has set up 13 e-cigarette disposal points across Macao. A separate update put the rate of nearsightedness among kindergarten and primary school pupils at 29%.

Tourism: Macao welcomed 32.18 million visitors in the first nine months of 2026, up 8.5% year on year. September arrivals rose 15.9%, though visitors from Hong Kong slipped slightly. Economic Diversification: Six gaming concessionaires pledged a combined MOP$9 billion to the government’s new MOP$20 billion Guidance Fund, which aims to support industries beyond gaming and tourism. Trade: Macao’s three major expos drew more than 90,000 visits, generated about 1,100 business-matching sessions and produced around 140 agreements, strengthening links with mainland China and overseas markets. Youth Football: Macao’s U-15 side beat St Kitts and Nevis 2-1 at the FIFA World Cup and Festival in Azerbaijan. Travel Alert: The government issued a Level 1 alert for France, advising residents there or planning to travel to stay vigilant and follow official updates.

Tourism: Macao recorded 32.18 million visitor arrivals in the first nine months of 2026, up 8.5% year on year. September arrivals rose 15.9%, though visitors’ average stay shortened. Economic Diversification: The government launched a MOP$20 billion guidance fund, backed by MOP$11 billion from fiscal reserves and MOP$9 billion from the six gaming concessionaires, to support new industries and innovation. Trade and Investment: Macao’s trade fair and two companion exhibitions drew more than 90,000 visits and secured around 140 agreements; 78 companies have submitted investment proposals, up 14% year on year. Travel Advisory: Authorities issued a Level 1 alert for France, urging Macao residents there or planning to travel to stay vigilant and follow official updates. Culture: The 8th Encounter in Macao arts festival and 29th Lusofonia Festival opened with nearly 50 programmes celebrating cultural ties with Portuguese-speaking countries.

Travel Advisory: Macao has issued a Level 1 alert for France, urging residents there or planning to travel to stay vigilant and follow official updates. Economic Diversification: A new MOP$20 billion government guidance fund has launched, with MOP$11 billion from the government and MOP$9 billion committed by the six integrated resort operators to support industries beyond gaming and tourism. Trade and Investment: The MIF, Portuguese-speaking countries’ products exhibition and franchise expo drew more than 90,000 visits and helped secure around 140 agreements; 78 overseas companies have submitted investment proposals. Tourism: Visitor arrivals rose 8.5% year on year to 32.18 million in the first nine months, though average stays edged down. Culture: The Encounter in Macao festival and Lusofonia Festival opened with nearly 690 artists and performers set to take part in about 50 programmes.

Economic Diversification: Macao’s six gaming concessionaires have pledged a combined MOP9 billion (US$1.1 billion) to the government’s new Guidance Fund, which will back emerging industries, technology and closer ties with Hengqin. Tourism: Visitor arrivals rose 8.5% to 32.18 million in the first nine months of 2026, but overnight visitors were nearly unchanged and average stays slipped to one day. Culture: The 8th Encounter in Macao arts festival and 29th Lusofonia Festival opened with nearly 690 performers and about 50 programmes celebrating Chinese and Portuguese-speaking cultures. Business Links: Macao’s trade fair and related exhibitions hosted more than 700 business-matching meetings, while Chief Executive Sam Hou Fai visited the Macao International Technology Industry Centre and reaffirmed the government’s push to grow high-tech industries.