The latest report released by the Macau Economic Association points out that Macau continues to recover in the post-pandemic era, especially in the gaming, tourism, and hotel industries, which show positive performance. The report states that the recovery is ongoing, but "the overall performance is still uneven." In the first two months of 2026, gross gaming revenue reached 22.63 billion Macau patacas and 20.63 billion Macau patacas respectively, with a year-on-year increase of 13.9%. Simply put, tourists have returned, and the casino business is booming as a result.
Tourism data reaches new highs, investment banks optimistic about growth in March
The tourism sector indicators remain strong, with visitor numbers and hotel occupancy rates "overheating." Last year, visitor numbers rebounded to 40 million, surpassing the 2019 record of 39.4 million, with this year's target set at 41 million visitors. The Macau Economic Prosperity Index is expected to stabilize at 6.1 to 6.3 points in the first quarter. Citibank predicts March GGR to be 22.5 billion Macau patacas, a year-on-year increase of 14%; J.P. Morgan expects this month's growth to exceed 10%, driving a first-quarter increase of 13% to 14%; Seaport Research forecasts a 12.5% increase in March, with a first-quarter growth of 13.4%.
Middle East conflict risks: Energy prices may drag on consumption
Despite the optimistic outlook, the report warns that the escalating geopolitical tensions in the Middle East "may persist for a longer period." Rising energy prices could exacerbate the cost of living for residents, erode corporate profits, and further reduce consumer sentiment. Attention must be paid to changes in the external environment and the difficulties and challenges brought by internal development imbalances. Interested in the latest developments in the Macau gaming market? PASA official website continues to track.
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