News

IFT organised two public seminars on 1 June - “When the Tides Turned – How Las Vegas is Weathering the Financial Tsunami” and “The Next Rising Star in Gaming and Entertainment? Updates on the Development of Singapore’s Integrated Resorts”. Dr. Stuart Mann, Dean of William F. Harrah College of Hotel Administration, University of Nevada, Las Vegas (UNLV) and Dr. Andy Nazarechuk, Dean of UNLV Singapore Campus are the invited speakers. Dr. Stuart H. Mann has served as Dean of the world renowned William F. Harrah College of Hotel Administration at the University of Nevada, Las Vegas since 1998. He holds the Michael D. Rose Distinguished Chair and is a faculty member in the hotel management department, as well as being dean. He is the author of over 35 published research papers focusing on problem-solving and decision-making. His more recent publications deal with both multi-objective and multi-criteria decision-making and simulation methods for training hospitality employees. At the seminar, Dr. Mann shares his views on how Las Vegas, as metropolis of the gaming and MICE industry, overcome the financial breakdown. Dr. Andy Nazarechuk, the founding Dean of University of Nevada Las Vegas-Singapore, is a leader in both the academic and the professional worlds of hospitality development. He not only designed and developed the resources of the modern, technologically advanced facility of the first international campus of the renowned William F. Harrah College of Hotel Administration, but he also designed and developed the programmes offered at the Singapore campus. He is an internationally known speaker, facilitating workshops, teaching courses, and addressing conferences and conventions for hotel professionals and academics on topics ranging from human resource motivation & management to casino management. As gaming is mushrooming in Singapore, Dr. Nazarechuk analyses the current development and prospectus of the industry. IFT always advance the research level as to contribute to the industry and the society. By organising various seminars and workshops, IFT is devoted to constantly share with the industry the most updated information and research findings, in order to foresee the future of Macao’s tourism industry.
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An American national who had close contact with Hong Kong’s sixth confirmed Influenza A (H1N1) case had completed the medical observation period and left the quarantine site today, the Health Bureau announced. The American, who had sat near the patient on the same plane, showed no symptoms of influenza and was tested negative for the virus. Three other people were also tested negative for Influenza A (H1N1) virus today. Meanwhile, Guangdong health authorities had informed Macao of a domestic case of the virus today, but so far there were no sign of community outbreaks there. The Bureau said it would continue to monitor the spread of the virus. People visiting regions with confirmed cases should take note of the spread of the virus and keep good personal hygiene, the Bureau advised. Meanwhile, the Hospital Conde S. Januário treated 119 children and 25 adults with respiratory illness symptoms today and medical teams at terminals checked body temperatures of more than 142,000 people entering Macao. They also dealt with 211 enquiries To date there is no probable or confirmed human case of Influenza A (H1N1) reported in Macao.
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Three people who returned from Japan and America today with fever were tested negative for Influenza A (H1N1) virus. Two of them were Macao residents, aged about 20, and the other was a 19-month-old Japanese girl. They were found to have fever and respiratory illness symptoms by the medical team at the airport. Meanwhile, the Hospital Conde S. Januário treated 86 children and 42 adults with respiratory illness symptoms today and medical teams at terminals checked body temperatures of more than 120,000 people entering Macao. They also dealt with 83 enquiries To date there is no probable or confirmed human case of Influenza A (H1N1) reported in Macao.
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Headed by the Macau Business Tourism Centre (MBTC) of Macau Government Tourist Office (MGTO), a delegation of Macau trade representatives from hotels, convention and exhibition venues, event and destination management companies exhibited at the IMEX 2009 in Frankfurt, Germany on 26-28 May. Hosted in Germany annually, the IMEX is the essential worldwide exhibition for the international meetings, event and incentive travel industry to meet face to face in order to network, undertake professional education and, importantly, to conduct business. This year, more than 3,500 leading exhibitors from 157 countries participated in IMEX 2009. It is anticipated that over 3,700 hosted buyers and 8,700 trade visitors from around the world will visit the show. Other co-exhibitors at the booth of MGTO were members of the “Industry Partners Program” namely, Apex Event Specialist Co. Ltd, DOC DMC Macau Ltd, City of Dreams and Altira Macau, Coastal International Exhibition (Macau) Co. Ltd, and Macau Convention and Exhibition Association, displaying their promotional materials under this marketing platform provided by MGTO. In addition, many trade visitors approached the booth during the trade show requesting information on MGTO’s new “Strategic MICE Market Stimulation Program” which was launched just a week ago, aiming to assist business tourism partners as well as to maintain the momentum and competitive edge Macau has been building as an international destination. The program consists of three main categories: Conventions and Meetings, Exhibitions and Incentives. Any MICE organizers or planners that booked events in Macau up until 31 December 2009 are entitled to the application (http://industry.macautourism.gov.mo/en/page/content.php?page_id=184). As part of its effort to drive the industry forward, MGTO will bring more members of the “Industry Partner Program” to participate in several renowned MICE trade shows upcoming for the second half of this year. These include The 4th International Travel Expo MICE (ITE MICE) in Hong Kong in June, China Incentive Business Travel and Meetings Exhibition (CIBTM) in Beijing in September, Incentive Travel & Convention Meetings of Asia (IT&CMA) in Bangkok in October and European Incentive & Business Travel & Meetings Exhibition (EIBTM) in Barcelona in December. Relaunch of the AACVB As treasurer and secretariat of the Association of Convention and Visitor Bureaus (AACVB), MGTO attended a press conference conducted by the Association on the sideline of the IMEX 2009 on 26 May. The purpose of this press conference was to announce the relaunch of the AACVB as well as to reveal its new vision, goals, strategies and ambitions. The AACVB was established in 1983. The Association is now being relaunched with a new agenda which will help drive more MICE traffic to the Asian region through the establishment of a shared data bank among member CVBs. The new strategic direction also calls for the sharing of best practices and the creation of joint branding, advertising and marketing. AACVB will also look into areas such as training programs and accreditation to raise the region’s industry standards and professionalism. Other member convention and visitor bureaus (CVBs) of AACVB include China, Hong Kong, Korea, Malaysia, Philippines, Singapore and Thailand. This press release is available at: www.macautourism.gov.mo
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A Macao woman who had taken the same flight with a confirmed Influenza A (H1N1) victim from Taiwan left the quarantine site today after completing the medical observation period, the Health Bureau announced today. She showed no symptoms of influenza and was tested negative for the virus. Meanwhile, the Hospital Conde S. Januário treated 76 children and 34 adults with respiratory illness symptoms today and medical teams at terminals checked body temperatures of more than 130,000 people entering Macao. They also dealt with 83 enquiries To date there is no probable or confirmed human case of Influenza A (H1N1) reported in Macao.
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The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP137.4 billion (USD17.21 billion) at the end of April 2009. The reserves rose by 2.2% from the revised value of MOP134.3 billion (USD16.83 billion) for the previous month. When compared with the same period last year, the reserves increased by MOP20.7 billion or 17.7%. Macao SAR’s foreign exchange reserves at end-April 2009 represented 31 times the currency in circulation or 247.0% of Pataca M2 at end-March 2009. The trade-weighted effective exchange rate index for the pataca, a gauge of the domestic currency’s exchange rates against the currencies of Macao’s major trading partners, fell by 0.68 point month-to-month but rose by 5.59 points year-on-year to 92.58 in April 2009. For enquiry, please contact:Research and Statistics Department, Monetary Authority of Macao (Tel: 83952532; Fax: 28353042)
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Information from the Statistics and Census Service (DSEC) indicated that the value of total exports of goods amounted to MOP692 million in April 2009, down by 48.9% year-on-year, with the value of domestic exports falling sharply by 70.8% to MOP243 million and that of re-exports dropping by 14.0% to MOP449 million. The value of total imports of goods amounted to MOP2.95 billion, down by 22.3% year-on-year. A trade deficit of MOP2.26 billion was recorded for April 2009. From January to April 2009, total exports of goods fell by 49.4% year-on-year to MOP2.71 billion, with the value of domestic exports and re-exports declining by 65.3% and 22.1% respectively. Meanwhile, total imports of goods slid by 21.4% to MOP11.15 billion, and the trade deficit for the first four months of 2009 narrowed by 4.4% to MOP8.44 billion. The exports/imports ratio went down by 13.5 percentage points year-on-year to 24.3%. Analysed by destination of Macao’s exports, in the first four months of 2009, the value of merchandise exports to the USA, the EU and Mainland China decreased by 73.4%, 57.9% and 41.6% respectively year-on-year. The value of Textile & garment exports declined by 66.6% year-on-year to account for 39.2% of the total exports of goods; meanwhile, the value of Non-textile exports dropped by 24.2%. Regarding the country of origin of imported goods, the value of imports from Mainland China and Hong Kong dropped by 43.4% and 16.9% respectively year-on-year. The value of imports of all broad economic categories continued to decline, of which Raw materials & semi-manufactures dropped by 44.8% and Fuels & lubricants fell by 30.0%; meanwhile, the value of imports of Consumer goods recorded a slower decrease of 7.7%, with that of Food & beverages rising by 11.1%.
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The Statistics and Census Service (DSEC) released the summary of the GDP for the first quarter of 2009. The rates of change mentioned in the text refer to the year-on-year change in real terms, unless otherwise specified. In the first quarter of 2009, gross gaming revenue (excluding gratuities) declined by 12.7% year-on-year in nominal terms; total visitor spending (excluding gaming expenses) went down by 16.7%; gross fixed capital formation plunged by 32.1% upon suspension or slowing down of some large-scale construction projects, and merchandise exports shrank substantially by 49.9%. Integrating the respective information, as well as the high base of comparison in the same quarter of 2008, GDP for the first quarter of 2009 contracted by 12.9% in real terms, decelerating further from the 7.6% decline in the previous quarter. As regards major GDP components, private consumption expenditure increased by 3.4% in the first quarter of 2009, lower than the 9.4% growth in the previous quarter. Household final consumption expenditure in the domestic market rose by 1.8%, and that abroad expanded by 4.4%, with the expenditure in Mainland China amounting to MOP 766 million. Government final consumption expenditure recovered from the negative growth in the last two quarters of 2008 and increased by 7.1%, with compensation of employees, and net purchases of goods and services rising by 5.5% and 22.4% respectively. As a gauge of investment, gross fixed capital formation contracted by 32.1%, down drastically from the 15.1% decrease in the previous quarter. In the private sector, total investment declined by 32.4%, attributable to a 35.7% decrease in construction investment and a 23.6% drop in equipment investment. Total government investment expanded by 14.8%, in which construction and equipment investment grew by 3.2% and 37.9% respectively. Integrating the data of both sectors, overall construction investment decreased by 35.5% in the first quarter of 2009, down further from the 11.8% decline in the previous quarter; however, decrease of overall equipment investment moderated from the 24.5% drop in the previous quarter to 23.2%. In terms of visible trade, total value of merchandise exports shrank by 49.2% in nominal terms or 49.9% in real terms, deteriorating further from the 42.4% decrease in nominal terms or 44.6% in real terms in the previous quarter. Analysed by major destination, merchandise exports to the United States, the European Union and Mainland China contracted by 70.5%, 61.1% and 35.6% respectively in nominal terms. Total merchandise imports slid notably by 22.5% in nominal terms or 22.4% in real terms, decelerating from the 11.8% decline in nominal terms or 14.3% in real terms in the previous quarter. As regards invisible trade (exports of services), exports of gaming services dropped by 13.3%, and total visitor spending (excluding gaming expenses) went down by 16.7% upon the 9.6% fall in the number of visitor arrivals and the 5.3% decrease of their per-capita spending. Integrating the principal data on exports of services, overall exports of services dropped by 14.6%, declining sharply from the 5.5% decrease in the previous quarter; moreover, imports of services contracted by 21.6%, far worse than the 3.1% decline in the previous quarter.
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Organized by the Monetary Authority of Macao (AMCM), a delegation of the Macao financial sector visited Beijing and Guangzhou from May 10 to May 16. The delegates met with officials of the State Council Hongkong and Macao Affairs Office, Ministry of Foreign Affairs and Guangdong Provincial Government, and had dialogues with the People’s Bank of China, China Banking Regulatory Commission and China Insurance Regulatory Commission and their sub-offices in Guangzhou, and some local financial institutions. The delegation comprised of 37 representatives mainly from Macao banks and insurance companies. The delegation received a warm reception. There were candid two-way flow of communications relating to the industries under discussion. The delegates have benefited much and it is the consensus that the visit has achieved its intended purposes. The delegation of 37 strong came from AMCM, 16 local banks, 8 insurance companies in addition to specially invited guests, Mr. Zhou Zhukui, Director of Economic Affairs Department of the Liaison Office of the Central People’s Government in the MSAR and Mr. Tian Di, Deputy Division Director. The main objective was to reflect the most up-to-date developments of our economy and financial system to the relevant agencies of the Central Government. Simultaneously, we exchanged our ideas relating to the impact of the financial tsunami erupted in September last year and the problems and solutions arising therefrom. In addition, the delegation was given a briefing on the planning and logistics of enhancing regional financial cooperation and enlargement of the realm of financial services under the “Pan Pearl River Delta Regional Reformation and Development Plan” rolled out by the Central Government last year. In our visit to the State Council Hongkong and Macao Affairs Office, we met with Mr. Zhou Po, Deputy Director. The delegates were given to understand the scope covered by the Office which included the measures laid down by the Central Government to promote economic diversification of the SAR, particularly in its gradual implementation of related arrangements and promotions to enhance development of financial products and services. In our visit to the Ministry of Foreign Affairs, Mr. Liu Jieyi, Assistant Minister, elucidated to the delegates the scenario of international diplomacy of our country, especially issues relating to the recent international financial crisis. AMCM elaborated our efforts in promoting Macao to become an economic and trading platform between China and Portuguese speaking countries. It was also mentioned that the Conference of Central Banks and Regulatory Authorities of Portuguese Speaking Territories was convened in Macao in early April. The Conference was attended by commercial attachés of our country’s embassies in the Lusophone countries. They also agreed to fully cooperate with us in relevant efforts. Mr. Liu indicated his approval and assured continued co-ordination in related efforts within the framework of the Economic and Commercial Cooperation Forum of China and Portuguese Speaking Countries. In our visits to the People’s Bank of China, China Banking Regulatory Commission and China Insurance Regulatory Commission, we met with Mr. Yi Gang, Vice Governor, Mr. Liu Mingkang, Chairman and Mr. Zhou Yanli, Vice Chairman respectively. The delegation raised a number of proposals conducive to the further development of our financial industry, which included expanding the scope of RMB business, raising the limit imposed on the volume of RMB transactions, localizing the China insurance intermediary qualifying examination in Macao and strengthening financial cooperation. All these issues had a positive response from the relevant authorities. In our visit to Guangzhou, we met with Mr. Song Hai, Vice Governor of the People’s Government of Guangdong Province and Mr. Zhou Gaoxiong, Director General of the Financial Affairs Office. We exchanged candidly ideas and discussions relating to the enhancement of financial cooperation. Both sides agreed to organize working groups with a view to discussing feasible items. A pragmatic attitude would be applied to its gradual implementation within the framework of the “Pan Peal River Delta Regional Reformation and Development Plan”. Subsequently, we visited People’s Bank, Guangzhou Branch, Banking Regulatory Commission, Guangdong Office and Insurance Regulatory Commission, Guangdong Office and met with Mr. Ma Jing, President, Mr. Liu Fu Shou, Director General and Mr. Huang Hong, Director General respectively. We discussed and probed into topics of common interest and agreed to promote cooperation of financial industry in a pragmatic manner. Before leaving Guangzhou, the Financial Affairs Office arranged a tour for the delegates to visit Nan Hai where the area for innovative financial services of Guangdong was domiciled. A representative from the municipal government of Foshan gave a very detailed introduction to the structure and development of the service area. During our stay in Beijing and Guangzhou, we met with Mr. Li Lihui, President of Bank of China, Mr. Jiang Jianqin, Chairman of ICBC, Mr. Yang Chao, Chairman of China Life Insurance Company Limited and Mr. Li Ruo Hong, Chairman of Guangdong Development Bank. The delegation thus built up a bridge for the financial sectors of both jurisdictions. The delegation also visited the new premises of the MSAR’s Liaison Office in Beijing and met with the Chief Representative, Mr. Ng Pak Meng. According to AMCM, the visit, which was organized on the eve of the 60th Anniversary of the People’s Republic of China and the 10th Anniversary of the MSAR, carries special connotation. The visit has enabled the delegation to present the most up-to-date scenario of the Macao financial sector to the Central Government and related regulatory authorities. It has also put forward proposals and opinions relating to enhancing the “platform” function of Macao and the integration of our financial industry into the development of Pearl River Delta. Nearly all the proposals have taken into consideration the practical situation of the Macao financial markets and the development needs. They are practicable and feasible which have had the attention of relevant agencies. It is suggested that implementation be realized via the working groups of the two areas. The move will be consistent with the policy of the Central Government, whereby appropriate diversification will be made possible in the MSAR which is conducive to the overall sustainable development of the economy and our community. It is the conviction of AMCM that we have felt the concern and support rendered to the MSAR by our Motherland. All relevant agencies have conveyed their concern over the efforts made by our financial system in combating international financial crisis. They adopt proactive attitude and measures to support Macao to overcome all difficulties and maintain stable and sustainable development of the economy and community through appropriate diversification. According to the delegates, they have experienced very solid and pragmatic activities. The host units have expressed their concern over the issues raised by our delegates. We have enjoyed cordial and candid communications with our Mainland counterparts. The delegates consider that they have fulfilled the objectives of the visit and found the results fruitful. In the afternoon of 16 May, the delegation arrived at Macao via Gongbei. Names of delegates: AMCM
Teng Lin Seng, António Félix Pontes
Liaison Office of the Central People’s Government in the MSAR
Zhou Zhikui, Tian Di
Bank of China Macao Branch
Ye Yi Xin American International Assurance Macao
Ma Chuk Ho
Tai Fung Bank
Ho Hao Tong (Beijing), Sio Ng Kan (Guangzhou)
BNU
Herculano Sousa (Guangzhou), Kan Cheok Kuan
HSBC Macao Branch
Au Sing Kun
Seng Heng Bank
Zhu Xiaoping (Beijing)
Weng Hang Bank
Lee Tak Lim
BCM
Chan Son Chao (Beijing), Ang Poon Kien (Guangzhou)
Luso International Bank
Jiao Yun Di
CCB Macao Branch
Cheong Kin Hong
ICBC Macao Branch
Shen Xiao Qi
Guangdong Development Bank Macao Branch
Guo Zhi Hang
Bank of Communication Macao Branch
Tan Zhi Qing
Bank SinoPac Macao Brnach
Lin Chin Hung
Banco Espírito Santo do Oriente
José Morgado
Banco Commercial Português Macao Branch
José João Pãosinho
Banco BPI Macao Branch
Bento Granja
Luen Fung Hang Insurance
Miu Chow Yuet
Asia Insurance Company Limited
Vong Pak Vai
QBE Insurance Macao
Siu Yee Ming
China Insurance Co. Macao
Jiang Yi Dao (Beijing), Yu Kok Leung (Guangzhou)
Manulife Macao Branch
Lam Sin Mui (Guangzhou)
China Life Insurance Macao
Wang Jian Guo
American Home Assurance Macao
Chan Chi San
AMCM
Lao Kam Chio
Bank of China Macao Branch
Ma Jian
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Information from the Statistics and Census Service indicated that total land area of Macao measured 29.2 km2 as at the end of 2008, with the population density rising from 18,000/km2 in 2007 to 19,000/km2. Total lane length of public roads was 404.4 km, and the motor vehicle density was 452 vehicles/km. Per capita green area was 12 m2, up by 6.2% over 2007. Data from the roadside monitoring station in Macao Peninsula showed that the level of air quality was classified as Good for 76.8% of the total number of days in 2008. However, the Northern District, Rua do Campo and Big Taipa Hill monitoring stations recorded 20 days, 9 days and 8 days respectively when the observed value of respirable suspended particulates exceeded the standard value. In 2008, the lowest pH value of rainwater was 3.4 (precipitation with pH value lower than 5.6 is classified as acid rain). The quality of potable water from the distribution networks and Water Treatment Plants of Macao conformed to the standard according to the results of the analysis carried out by the Laboratory of the Civic and Municipal Affairs Bureau; besides, salinity level of potable water was classified as Low in 2008. The approval rate of water samples taken from the 10 public swimming pools was over 80%. In addition, water quality of Hac Sa and Cheoc Van beaches showed improvement from 2007. Macau Waste Systems Company, Limited (CSR) collected 179,000 tonnes of domestic garbage and 75,000 tonnes of garbage from the business sector in 2008, up by 2.9% and 9.4% respectively over 2007, but volume of construction waste decreased notably by 37.8% to 1,940,000 m3; besides, 298,000 tonnes of garbage were sent to the Incineration Plant, up by 3.6%. As regards waste water treatment, equipment deterioration of the Waste Water Treatment Plant (WWTP) in Macao Peninsula decreased the total capacity of waste water treatment to an average of 124,000 m3 per day, down by 25.9% year-on-year. A total of 4,205 cases of noise complaint were reported in 2008, up by 13.0% year-on-year, mostly concerning noise from conversation and shouting, construction works, etc. With regard to educational activities on environmental protection, the Civic and Municipal Affairs Bureau and the Environment Council organized 385 promotional activities in 2008, with participation of approximately 320,000 persons.
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