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