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Post by Blitz on Sept 23, 2024 8:59:34 GMT -5
Macau visitor arrivals surpass pre-COVID levels for first time in August by Pierce Chan Mon 23 Sep 2024 www.asgam.com/index.php/2024/09/23/macau-visitor-arrivals-surpass-pre-covid-levels-for-first-time-in-august/Macau welcomed 3,651,731 visitor arrivals in August, up 13.3% year-on-year and surpassing the pre-pandemic level for the first time since reopening. According to information from the Statistics and Census Service, the August tally was 0.8% higher than the same month in 2019, and up 20.9% compared to July 2024. The main source of August arrivals was mainland China, which increased by 18.5% year-on-year to 2,752,322, and by 4% over the same period in 2019. Hong Kong visitor arrivals of 663,449 decreased by 6.8%, while arrivals from Taiwan reached 73,629, up 26.7% year-on-year. Visitor arrivals from Hong Kong and Taiwan recovered to 99.6% and 77.3% of the same period in 2019 respectively. International arrivals in August totalled 162,331, up 25.5% year-on-year and back to 75.3% of the same period in 2019. Among them, Korea led the way with 36,923 arrivals, up 61.4% year-on-year, while the Philippines recorded 35,180 arrivals, up 31.7% year-on-year. Visitor arrivals from Japan also increased by 24.8% year-on-year to 10,582. By mode of arrival, those coming by air increased by 24.7% year-on-year to 282,733 in August. Arrivals by land increased by 16% to 2,986,134 although those by sea decreased by 9.2% to 382,864. There were 2,041,362 same-day visitor arrivals in August, a 23.4% year-on-year increase, and 1,610,369 overnight visitor arrivals, up 2.7%. The average length of stay of visitors was 1.1 days, a decrease of 0.1 days compared with the same month last year. The average length of stay of overnight visitors was extended by 0.1 days to 2.3 days. For the first eight months of 2024 combined, arrivals reached 23,392,903, up 32.7% year-on-year and back to 85.3% of the same period in 2019. International arrivals of 1,503,936 were back to 68.9%.
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Post by bjspokanimal on Sept 24, 2024 13:46:09 GMT -5
Good to see Macau gaming finally rising above pre-covid levels and the relative demise of junkets more fully baked into the new state of the industry. 2009 presented a classic contrarian turn-around opportunity for LVS while covid created a 2nd such opportunity. Perhaps this current recovery will give those of us who sold a lot of our stock ahead of covid the opportunity to get a good sales price for the rest of our shares if the current strength in Macau delivers sufficient euphoria among momentum investors over the next 6 to 12 months, particularly if economic recovery in China adds even more fuel to such euphoria.
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