Wow, wow, wow! MICE [Meetings, incentives, conferences, and exhibitions] DSEC statistics for 2015 are out, and guess what, the number of events (909) is up by a staggering 116 y-o-y! Of course, with only MOP$232 million of receipts (including MOP$127 million of public funding) for the whole of 2015, this is equivalent to a bit less than 9 hours of gambling revenues in 2015 (with a bit more than MOP$230 billion for 2015, GGR per hour, despite the dwindling figures, is about MOP$26.35 million...). Also, in terms of number of attendees and participants, there is a drop of 4% to 2.48 million, whereas in Vegas, out of comparison, there were 5.89 million participants in 21,306 conventions and meetings held in 2015. So, Macao is holding 23 times less events than in Vegas but is attracting about 2/5 of the Vegas' attendees! For revenues, it is difficult to compare as Vegas mixes CAT (Casino Tourism) and MICE! But as pointed out by Carlos Siu Lam and John Crossley: "Efforts should be dedicated to creating a unique image and destination experience for Macao under the current resource constraints, rather than simply imitating Las Vegas. Offering different kinds of products is a key aspect in this regard. In a nutshell, the diversification of the tourism and casino industry in a gaming jurisdiction relies on its ability for: (1) enriching its products and services; (2) diversifying its customer mix; and (3) differentiating its image from that of its competitors." This concurs with the conclusions of the PwC report on Building Better Cities...
No comments:
Post a Comment