THE M3: NEW MAINLAND TOURISM LAW; DROP IN S'PORE LOCALS; MID-AUTUMN TOURISTS

THE MACAU METRO MONITOR, SEPTEMBER 25, 2013

 

 

NEW RULES TO BRING A 50% DROP IN MAINLAND TOURIST GROUPS Macau Daily Times

A new Mainland tourism law could result in a 50% drop in the number of tourist groups in October.  According to Max Lau, head of the Macau Travel Agency Association, the new law will steer tourists towards “rational consumption”.  “Prices of tourist groups will increase according to the new law.  Tourists will gradually find that what they paid in the past was not the real cost of the trip.” 

 

Article 35 of the new tourism law prohibits China’s domestic travel agencies from “organizing tourism activities and luring tourists with unreasonably low prices, which is estimated to cause the previously under-market package rate to surge instantly.”  Furthermore, Chinese travel agencies shall not “designate specific shopping places, or provide tourism services that require additional payment.” 

 

FEWER LOCALS VISIT THE CASINOS: ONLY 7.7% MADE MORE THAN ONE VISIT IN PAST 3 YEARS Strait Times

According to the Casino Regulatory Authority (CRA) in Singapore, only 7.7% of locals here made more than one visit to the two casinos here in the past three years.  CRA said that the vast majority of the remaining 92.3% did not visit the casinos at all.

 

The total number of visits to the casinos by Singaporeans and permanent residents has also dropped, in a sign that the novelty factor could be wearing off, said CRA's president Richard Magnus.

 

They made a daily average of 17,000 visits last year, down from 20,000 visits when the casinos first opened in 2010.  CRA also attributed the drop in the number of casino visits to the effectiveness of its safeguards in deterring vulnerable individuals from problem gambling.

 

LESS TOURISTS DURING MID-AUTUMN FESTIVAL  Macau Daily Times
According to the Public Security Police Force (PSP), visitors to Macau during the mid-autumn festival recorded a decrease of 6.74% YoY or 470,000 visitors.  From September 19 to 22, a total of 729,614 arrivals was recorded through seven immigration checkpoints: namely Border Gate, Lotus Bridge, Outer Harbor Ferry Terminal, Inner Harbor Wharf, Macau International Airport, Cross-border Industrial Zone and Taipa Temporary Ferry Terminal.  

 


Cartoon of the Day: Hard-Headed Bears

How's this for "hard data"? So far, 107 of 497 S&P 500 companies have reported aggregate sales and earnings growth of 4.4% and 13.2% respectively.

read more

Premium insight

McCullough [Uncensored]: When People Say ‘Everyone is Bullish, That’s Bulls@#t’

“You wonder why the performance of the hedge fund indices is so horrendous,” says Hedgeye CEO Keith McCullough, “they’re all doing the same thing, after the market moves. You shouldn’t be paid for that.”

read more

SECTOR SPOTLIGHT Replay | Healthcare Analyst Tom Tobin Today at 2:30PM ET

Tune in to this edition of Sector Spotlight with Healthcare analyst Tom Tobin and Healthcare Policy analyst Emily Evans.

read more

Ouchy!! Wall Street Consensus Hit By Epic Short Squeeze

In the latest example of what not to do with your portfolio, we have Wall Street consensus positioning...

read more

Cartoon of the Day: Bulls Leading the People

Investors rejoiced as centrist Emmanuel Macron edged out far-right Marine Le Pen in France's election day voting. European equities were up as much as 4.7% on the news.

read more

McCullough: ‘This Crazy Stat Drives Stock Market Bears Nuts’

If you’re short the stock market today, and your boss asks why is the Nasdaq at an all-time high, here’s the only honest answer: So far, Nasdaq company earnings are up 46% year-over-year.

read more

Who's Right? The Stock Market or the Bond Market?

"As I see it, bonds look like they have further to fall, while stocks look tenuous at these levels," writes Peter Atwater, founder of Financial Insyghts.

read more

Poll of the Day: If You Could Have Lunch with One Fed Chair...

What do you think? Cast your vote. Let us know.

read more

Are Millennials Actually Lazy, Narcissists? An Interview with Neil Howe (Part 2)

An interview with Neil Howe on why Boomers and Xers get it all wrong.

read more

6 Charts: The French Election, Nasdaq All-Time Highs & An Earnings Scorecard

We've been telling investors for some time that global growth is picking up, get long stocks.

read more

Another French Revolution?

"Don't be complacent," writes Hedgeye Managing Director Neil Howe. "Tectonic shifts are underway in France. Is there the prospect of the new Sixth Republic? C'est vraiment possible."

read more

Cartoon of the Day: The Trend is Your Friend

"All of the key trending macro data suggests the U.S. economy is accelerating," Hedgeye CEO Keith McCullough says.

read more