The Macau Metro Monitor, June 14, 2011
ECONOMY TO GROW BY LOW DOUBLE-DIGIT: TAM Macau Daily Times
Secretary Francis Tam said the Macau economy is likely to experience a low double-digit growth this year. There are forecasts that call for a slowdown in 3Q, added Tam. Last year, the MSAR economy grew by 26.2% to MOP 217 BN. The secretary also acknowledged that yearly inflation – which hit 4.9% in April – is likely to remain high for the foreseeable future, considering the situation in mainland China and worldwide.
PACKAGE TOURS AND HOTEL OCCUPANCY RATE FOR APRIL 2011 DSEC
Visitor arrivals in package tours decreased by 5.0% YoY to 543,679 in April 2011. Visitors from Mainland China (408,461), Thailand (12,959) and Japan (9,233) decreased by 4.9%, 14.7% and 45.3% respectively. Visitors from Taiwan (27,491); Hong Kong (24,718) and Republic of Korea (18,546) increased by 11.9%, 9.4% and 23.5% respectively.
Hotels and guest-houses received 675,836 guests in April 2011, up by 1.7% YoY, with the majority coming from Mainland China (53.4% of total) and Hong Kong (20.9%). The average length of stay remain unchanged YoY at 1.4 nights. The average occupancy rate of hotels and guest-houses was 84.5%, up by 3.6% points YoY.
MAINLAND CONFIRMED INDIVIDUAL TOURISTS SCHEME WITH TAIWAN People's Daily
According to the State Council's Taiwan Affairs Office, a pilot plan allowing Mainland China visitors to Taiwan as individual tourists will commence on June 28, which covers residents from Beijing, Shanghai and Xiamen at the first stage. Currently, mainlanders are only allowed to visit Taiwan on package tours after the authorities lifted a partial ban in July 2008.
CHINA RAISES BANK RESERVE REQUIREMENTS Bloomberg
China's Required Reserve Ratio for banks will be raised to a new high of 21.5%, effective June 20. Also, China’s producer prices rose 6.8% in May and non-food inflation accelerated to 2.9%, the fastest pace in at least six years.