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In cooperation with Ichipon Sushi, Institute for Tourism Studies (IFT) Year 3 Tourism Retail and Marketing Management students taking the Retail and Marketing Business Project course led by Dr. Fernando Lourenço helped a local entrepreneur to promote a new takeaway sushi restaurant, aiming to serve its target customers in Macao. A series of marketing activities was carried out by IFT students in collaboration with Ichipon Sushi including conducting market research, and developing, implementing and evaluating the impact of the digital marketing communication and social media marketing campaigns of the restaurant. This was a fantastic opportunity for IFT students to understand the process of business start-up in relation to the application of social media marketing principles and strategies. Moreover, this was an excellent way to build stronger links with the industry by offering support to local entrepreneurs and businesses. The result of the marketing approaches was fruitful. The IFT students successfully helped the entrepreneur to double its sales. Furthermore, the interaction rate of various social media channels of the restaurant improved immensely and customers' recommendations and feedback on the channels were received, helping the restaurant to build relationships with the target customers. The entrepreneur is very happy with the result and therefore willing to offer summer jobs for our students to manage the social media channels, in addition to have given awards and certificates to congratulate their efforts and hard work. This was a fantastic recognition that proves the success of the students' project. The amazing work of the students can be found on our YouTube channel, where each group of the students prepared a summary of their design in motion picture: http://www.youtube.com/user/YatPun.
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Consumer Council published its latest issue of Consumer Report no. 237. Result of the 2013 accuracy test on fuel metres at petrol stations is released; the magazine also includes coverage on the signing of protocol between Macao Consumer Council and Zhonshan Consumer Council. The Council has already established cooperative systems with 41 consumer organizations in mainland China at the moment. Consumer Council conducts periodical accuracy tests on fuel metres at local petrol stations to encourage industry's concern on the functionality and maintenance of facilities at petrol stations and to safeguard consumers' interests. Result of the current test has been released earlier and a consolidated report which includes the details of testing procedures, passing rates of past years' results, and tips on how to save fuel is featured in the magazine. The Council signed a protocol with Zhonshan Consumer Council in March, at the moment, the Council has already established cooperative mechanisms with 41 consumer organization in China. The Council believes that the signed protocol enables enhancement in consumer protection work. The current issue also includes features on consumer protection work in mainland China and other countries, such as the report on the guideline for cosmetics for children, and an article on the 'Lemon Law' of Singapore. Consumer Report also introduces the different measures taken by other countries to confront the danger of global water scarcity. Consumer Report is now available free of charge at Consumer Council (Av. Horta e Costa, N.º 24-A, Edf. Cheung Heng, R/C), and the service counter of Consumer Council at Macao SAR Government Service Centre (Rua Nova da Areia Preta, Nº52), Public Information Centre at Vicky Plaza, libraries and bookstores. Consumers may also access the resources online on the Council's official website (http://www.consumer.gov.mo). For enquiries, please call 8988 9315.
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To celebrate the China Cultural Heritage Day and the International Archives Day, the Historical Archives under the auspices of the Cultural Affairs Bureau of the Macao S.A.R. Government (CAB), present the exhibition "An Art of Precision - Shipbuilding in Macao: People, Craft and Society". The exhibition's opening ceremony took place at 3pm on June 8th 2013 at the Historical Archives, located at Tap Seac Square. Present at the ceremony was the CAB President, Mr. Ung Vai Meng, who presented senior members of the shipbuilding industry with souvenirs and certificates, and showed his gratitude for their contribution of precious items as well as their assistance in organising lectures and workshops.
Shipbuilding is a traditional industry with a time-honoured history in Macao. The operation and changes in Macao's shipbuilding industry has a close relationship with Macao's socioeconomic development, also witnessing the evolution of other industries between the 19th and the 21st centuries. At the same time, shipbuilding in Macao adopted traditions and customs of different industries and trades, thus having a profound cultural significance.
The exhibition will present over 100 items, ranging from records of oral interviews, documents, photographs and objects, such as shipbuilding tools from different periods, Lou Pan worship objects (patron of shipbuilders), stamps from the Shipyard Workers' Association, contacts, plants and models of fishing boats and information about the School for the Shipyard Workers' Children, among others. Themed on the people, craft and society of Macao's shipbuilding, the exhibition seeks to acquaint visitors with the historical background of the industry, its craft, interpersonal relations, worships and customs, practices and taboos, modes of operation and unique way of continuity. Lectures and workshops on the theme are also scheduled during the exhibition period to offer a further insight into Macao's shipbuilding.
The exhibition runs until December 7th, daily from 10am to 6pm, at the Historical Archives (closed on Mondays and public holidays). Admission is free. For enquiries, please visit www.archives.gov.mo or call 28592919, during office hours, for more details.
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Consumer Council conducted its specific price survey on tissue papers on 6th June for the implementation of Section 2b), Article 10, Law 4/95/M of 12th June. Result of the mentioned survey has been uploaded to the Council's website (www.consumer.gov.mo) and is available in the Council's 'Supermarket Price Information Platform' iPhone and Android apps. For inquiry, please call the Council's hotline: 8988 9315.
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Macau Government Tourist Office (MGTO) has recently organized the "Effective Travel Agency Supervisory Management Workshop" and "Technique in Handling Dissatisfied Customer Workshop for Tour Guides", two professional training sessions for travel industry partners in response to the city's booming tourism development. MGTO held a certificate presentation ceremony today (June 6) for the workshop attendees. The ceremony was held at Tourism Activity Centre at 5 p.m. today (June 6). In the ceremony, MGTO Director Maria Helena de Senna Fernandes, Deputy Directors Manuel Pires and Cecilia Tse presented the attendance certificates to nearly 100 trade partners who joined the workshops, encouraging the trade to keep upgrading their service quality and work efficiency for enhancement of Macau's tourist-city image. Pacing with Macau's rapid tourism development, the tourism and related industries are demanded to keep enhancing their professional skills and service quality in order to meet the customers' diverse needs. MGTO thus held related workshops which offered training specifically for tour guides and travel-agency executives or managers. The workshops won active participation among the trade partners. MGTO well recognizes the significance of human resources and service quality on Macau's path towards a World Centre of Tourism and Leisure and its diversified development. The office will therefore continue to foster and coordinate professional training opportunities for the tourism sector while encouraging the trade partners to upgrade themselves and dedicate their efforts to Macau travel industry.
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(5 June 2013, Macau) – A press conference to launch the second edition of Global Tourism Economy Forum ("GTE-Forum" or "the Forum"), hosted by the Secretariat for Social Affairs and Culture of the Macau SAR Government, co-organised by the China Chamber of Tourism under the authorisation of All-China Federation of Industry and Commerce (ACFIC) and coordinated by the Global Tourism Economy Research Centre, was announced at the Macau Tower Convention and Entertainment Centre on 5 June, 2013. The GTE-Forum this year will again gather key decision-makers in the global tourism industry to share ideas and generate solutions on how the industry can continue to positively impact the world economy. The second edition of GTE-Forum will be held at the Macau Tower Convention and Entertainment Centre from 17-19 September 2013. Under the theme "Regenerate our Economies: Invest in Travel and Tourism", this edition of the Forum explores how tourism industry plays a vital role in critical moments of current economic recovery. This year, GTE-Forum aims at bringing together more global leaders of political and economic sectors, ministers of tourism, provincial governors and officials from China and experts from the finance and investment industries to share their ideas on how tourism-related industries has become and will continue to be the economic growth drivers amidst opportunities that have resulted from a huge myriad of consolidation, acquisitions, and new partnerships in the global markets. The Forum serves as an Effective International Exchange Platform
With tourism being the pillar of Macau's economy and global economic recovery, the role of this Forum is particularly significant. Ms. Cheung So Mui Cecília, Chief of Office of the Secretary for Social Affairs and Culture of the Macau SAR Government, said, "Macau has been closely following the Central Government's Twelve-Five Year Plan to establish the city as the World Centre of Tourism and Leisure and a regional commerce and service platform; Macau's success in hosting the inaugural Global Tourism Economy Forum has fully demonstrated the respective strengths and advantages that Macau possesses," she added, "With global tourism industry achieved impressive growth albeit continuing economic challenges, we expect the GTE-Forum can seek for more innovative ideas, once again broaden our horizons, gather insights from tourism heavyweights, experts and scholars and explore how tourism industry can drive for new economic growth." Ms. Maria Helena de Senna Fernandes, Director of Macau Government Tourist Office addressed in her speech, "Macau has been a prominent gateway for and served as a platform of Mainland China. Macau's commitment to organize three consecutive Global Tourism Economy Forums allows the city to fully play its role as the gateway and platform between China and the World, which further enhances Macau's status as the World Centre of Tourism and Leisure." Expressing her gratitude to all the sectors for their support, Ms. Pansy Ho, Chairman of Global Tourism Economy Research Centre, Vice Chairman and Secretary-General of GTE-Forum, indicated that she expects the Forum to unleash its strengths as a platform of idea exchange and as a springboard for the promotion of multilateral cooperation, and the generation of more extensive development opportunities for tourism and related industries in Macau, China and other countries, aiming at driving overall economic growth. Ms. Pansy Ho said, "The success of the inaugural GTE-Forum goes far beyond what we had achieved in the three-day forum. What we are most proud of is the success of subsequent business networking activities initiated and organized by the Forum, such as the Chinese Private Entrepreneur Delegation visit in Portugal and Spain. This clearly demonstrates the Forum's capability as a platform to bring about cross-region, cross-industry exchange and cooperation; while it strategically positions Macau as the regional hub of the convention and exhibition industry, showcasing Macau as the gateway between China and the rest of the world. The second edition of GTE-Forum has been designed to emphasize the element of business matching. Several business matching sessions, presentations and workshops for both Chinese and foreign enterprises and organisations have been created, enabling Chinese enterprises to follow the national strategy of "bringing in investment and resources, and going out to learn and invest", explore investment and development opportunities for tourism-related industries of China and other countries, and promote cross-industry interactive development, thus driving overall economic growth." Top tourism organizations offer continued support by hosting their own respective sessions at the Forum This edition of GTE-Forum has a wealth of highlights, including the Ministerial Round Table, in collaboration with UNWTO, with tourism ministers of European and Asian countries speaking on the critical issue of "Travel Facilitation"; the WTTC Session: Points of View from International Private Sector Leaders and the PATA Session: Points of View from Asia Pacific Leaders, with renowned global leaders of the tourism industry proposing creative solutions to regenerate our economies; and the China's Perspective session focusing on private enterprises of China and how the Chinese industry leaders achieve their mission of "Go Global". This edition's GTE-Forum is also enriched with an investment element through business-matching sessions, examining market trends and sharing investment strategies, and essentially lining up a broad range of opportunities of cooperation between source of funds and source of deals. Mr. Shao Qiwei, Chairman of National Tourism Administration of the People's Republic of China, Mr. Taleb Rifai, Secretary-General of World Tourism Organization (UNWTO), Mr. Michael Frenzel, Chairman of Executive Board, TUI AG and Chairman of World Travel and Tourism Council (WTTC), Mr. David Scowsill, President and CEO of World Travel and Tourism Council (WTTC) and Mr. Martin Craigs, CEO of Pacific Asia Travel Association are among the key speakers of this edition's GTE-Forum. Furthermore, All-China Federation of Industry and Commerce (ACFIC), Liaison Office of the Central People's Government in the Macau SAR, Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Macau SAR, National Tourism Adminstration of the People's Republic of China, World Tourism Organization (UNWTO), World Travel and Tourism Council (WTTC), Pacific Asia Travel Association (PATA) and Macau Government Tourist Office will offer their continued support and actively participate in the Forum. The inaugural GTE-Forum attracted over 1,000 representatives from 34 countries and regions as well as delegations from 22 provinces and cities of Mainland China. Riding on the success of the first Forum, the second edition of GTE-Forum will analyze the current tourism and economic trend with more effective and insightful approach.
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Consumer Council conducted its specific price survey on beverages on 4th June for the implementation of Section 2b), Article 10, Law 4/95/M of 12th June. Result of the mentioned survey has been uploaded to the Council's website (www.consumer.gov.mo) and is available in the Council's 'Supermarket Price Information Platform' iPhone and Android apps. For inquiry, please call the Council's hotline: 8988 9315.
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We are very happy to announce the successful completion of a project by our Year 4 Tourism Retail and Marketing Management students taking the Visual Merchandising and Store Design course lead by Dr. Fernando Lourenço to help a local entrepreneur (Vanda Rodrigues) to develop a range of store design concepts for a new food outlet targeting tourist in Macao. The design theme for the store was set to 'showcase the heritage of Macao and its colonial past'. Via this project, our students had to engage in research leading to the development of mood-board to stimulate the development of concepts. Subsequently, students had to use floor planning, 3D modeling as well as graphics programmes to turn their ideas into professional illustrations as well as videos for their final presentation. Although most students were new to the field of design and prior knowledge is limited, the outcomes were fruitful and were beyond the expectation of the course leader as well as the local entrepreneur. This was a fantastic opportunity for students to understand the process of business start-up in relation to store design and visual merchandising. Moreover, this was an excellent way to build a stronger link with the industry by offering our support to local entrepreneurs and businesses. Students were given awards and certificates to congratulate their efforts and hard work.
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According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in April. As total deposits increased at a faster pace than total loans, the overall loan-to-deposit ratio of the banking sector dropped from a month earlier.
Money supply
Currency in circulation and demand deposits grew 0.9% and 5.3% respectively. M1 thus increased 4.6% from one month earlier. Concurrently, quasi-monetary liabilities rose 0.9%. The sum of these two items, i.e. M2, increased 1.4% to MOP396.5 billion. On an annual basis, M1 and M2 rose 32.2% and 25.2% respectively. The share of Pataca (MOP) in M2 stood at 24.7%, down 0.1 percentage point from a month ago or 1.1 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 54.7%, up 0.3 percentage points month-to-month but down 0.4 percentage points year-on-year.
Deposits
Resident deposits rose 1.4% from the preceding month to MOP388.2 billion. Of which, MOP deposits, HKD deposits and other foreign currency deposits increased at respective rates of 1.1%, 1.9% and 0.2%. Non-resident deposits grew 7.5% to MOP141.0 billion whereas public sector deposits with the banking sector edged up 0.1% to MOP53.8 billion. As a result, total deposits with the banking sector rose 2.7% from a month earlier to MOP583.1 billion. The shares of MOP and HKD in total deposits were 20.3% and 47.3% respectively.
Loans
Domestic loans to the private sector increased 2.9% from a month ago to MOP216.8 billion. Among which, MOP69.3 billion was MOP-denominated and MOP127.7 billion was denominated in HKD, representing 32.0% and 58.9% of the total respectively. On the other hand, external loans increased 1.3% to MOP260.1 billion; of which, loans denominated in MOP and HKD accounted for 0.9% (MOP2.3 billion) and 21.0% (MOP54.7 billion) respectively.
Loan-to-deposit ratios
The loan-to-deposit ratio for the resident sector at end-April rose 0.8 percentage points from the previous month to 49.0%. The ratio for both the resident and non-resident sectors dropped 0.5 percentage points to 81.8%. For enquiry, please contact:
Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)
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In order to provide diversified training opportunities for Macao's local hotel industry professionals and enhance their management skills, Institute for Tourism Studies (IFT) and Cornell University, U.S.A. co-orgainsed a two-day Executive Development Programme on Planning for Profits for Hotels on 3 and 4 June. This workshop will integrate the disciplines of management accounting, finance, marketing and business decision making, aiming to enhance participants' management decision making skills with respect to pricing and incentives, advertising, staffing, service quality and other operating decisions by learning how to evaluate financial statements. The programme attracted 24 professionals of local hotels and mega resorts to participate. IFT has the honour of inviting Mr. Robert E. Kastner, an experienced lecturer in tourism education, to be the facilitator of this programme. Graduated from Cornell University with Bachelor of Science and Master of Business Administration specialising in finance, Mr. Kastner has been teaching at the School of Hotel Administration of Cornell in the areas of concentration include accounting, hotel financial management, investments, and personal computing. He has also developed numerous software programs in the area of financial management and hotel development earlier and has been teaching at Cornell's Professional Development Programme. The purpose of the programme is to enable participants to learn how to perform competitive analysis, identify opportunities to improve profitability and measure success. Programme topics include:
 Formulate and implement marketing and profit making strategies for hotel operation;
 Practice hotel decision-making and analysis through rapid feedback of operating results. Decision-making areas include pricing, rate incentives, advertising & promotion, staffing, operations and finance;
 Perform competitive analysis and identify opportunities to improve profitability;
 Understand the concept of GOP "Flow-Through" and the impact on profitability;
 Practice income statement analysis, apply ratio analysis to hotel financial statements and discuss industry trend comparisons.
 Understand the concept of operating leverage and how to calculate the break-even point;
 Understand the performance measures of hotel operators and owners including vocabulary such as GOP, NOI, EBITDA, ROE, ROCE, ROA, ROI, etc.;
 Understand the concepts of financing and financial leverage and its impact on profitability, cash flow and return on owners' investment. As the tourism and hospitality industry is growing swiftly in Macao, the demand for knowledgeable professionals is increasing and thus hotel management needs to upgrade themselves to cope with the changing market trends. This course offers key insights on how to plan for profits for hotels in a strategic and theoretical way which is definitely one of the essential areas in operating a hotel. It is hoped to strengthen the decision makers' theories and extend the knowledge to their operations.
IFT is always striving to enhance its research and teaching so as to contribute to the society. By organising diversified seminars and workshops, IFT constantly shares with the industry the most updated information and research findings about the future development of Macao's sustainable tourism industry and ways to enhance it.
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