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.
SECTOR SPOTLIGHT | Live Q&A with Healthcare Analyst Tom Tobin Today at 2:30PM ET
Join us for this edition of Sector Spotlight with Healthcare analyst Tom Tobin and Healthcare Policy analyst Emily Evans.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