• While Mainland China visitation is the most important visitor segment and has been above expectations in 2014, Hong Kong visitors represents 23% of the total  (2nd largest) and declined for the 11th straight month.  

  • Year-to-date, total and Mainland visitation rose 8% and 14%, respectively, while HK visitation shrunk by 6%.

  • There is a rumor the dead-boat gaming cruises out of the ports in HK may be playing a role as they are particularly attractive for locals looking for a quick gambling trip without going through the Macau ferry and immigration congestion. 

  • One concern could be if China’s macro issues bleed into Mainland visitation to Macau, HK may not be there to pick up the slack. 

MACAU: DON’T FORGET THIS VISITOR GROUP - hlk