New Central Government Policies Boost Tourism Consumption
The Central Government has once again introduced a new policy initiative for the benefit of Macau, raising the duty-free allowance to $12,000 for travelers entering the territory for personal use, injecting a new impetus to Macau’s economic development. Prof. Amy Siu Ian SO, Assistant Dean (International and External Relations) of the Faculty of Business Administration and Associate Professor of the Department of Integrated Resort and Tourism Management, shared her views on the new policy of the Central Government to boost tourism spending in “Macau Daily”. She said that the increase in duty-free quota will effectively stimulate the spending intention of tourists and promote the upgrading and development of Macau’s tourism consumption market, which will benefit the whole retail industry in Macau.
According to statistics, total visitor spending in the first quarter of 2024 has increased by about 20% over the same period in 2019, and per capita spending has also risen. Prof. Amy Siu Ian SO believes that in order to create more development opportunities for SMEs, the industry can consider adjusting their business strategies, better understanding the preferences of new types of consumers, and improving the quality and variety of their products. At the same time, they can make full use of multi-media means to strengthen product promotion and enhance the exposure and attractiveness of their products.
Prof. Amy Siu Ian SO also pointed out that Macau still needs to continuously improve its tourism experience. This includes improving the city’s transport, tourism support measures, and introducing more special cuisines or entertainment programmes to meet the diversified needs of tourists. At the same time, Prof. Amy Siu Ian SO emphasized that Macau should continue to improve the quality of its tourism services in order to consolidate its position as a world center of tourism and leisure. In the future, Macau should also make full use of this favorable policy to encourage local retailers to innovate and enhance their products and services to attract more high-end consumers.
