SUBSCRIBE TO OUR FREE WEEKLY NEWSLETTER

Macau’s MOP$109 billion diversification bonanza

As Macau emerges from the ravages of the COVID-19 pandemic, it finds itself in the midst of a seismic evolution.

Already renowned as an entertainment capital of Asia, the city is preparing for yet another surge of investment as part of the government’s push to diversify the SAR’s economy and attract a broader range of tourists from across the globe. And helping them achieve this are Macau’s six integrated resort operators, who have pledged a combined MOP$109 billion (US$13.5 billion) over the next decade.

This massive investment spans the gamut of social and cultural attractions, from international sporting events and art shows to gastronomy, themed amusements and even health-based tourism among others.

So, what exactly will the Macau of 2033 look like?

MICE

The award of new concessions late last year included a commitment by the city’s six concessionaires to support key diversification pillars laid out by the Macau SAR Government.

Among the most critical of these is continued expansion of the local Meetings, Incentives, Conferences and Exhibitions (MICE) industry by either developing new facilities or expanding existing ones to better compete with regional MICE hubs such as Hong Kong and Singapore.

Such plans are already well afoot, with Macau to see the opening of a new convention center in 2023 covering 40,000 square meters of MICE space in the heart of Cotai. Described as “Asia’s most iconic and advanced MICE and entertainment destination”, the operator has promised to enhance awareness of the new facility “through an array of promotion schemes, including building partnerships in targeted overseas markets and participating in different industries’ promotion events internationally.”

All six Macau concessionaires have outlined specific MICE-related plans, with one revealing it will develop a new 18,000-square meter MICE facility adjacent to its existing space. Its focus, the company said, would be the targeting of global multinational companies to host their annual meetings and corporate summits in Macau.

Another has outlined plans to create a garden-themed venue “that combines the benefits of both indoor and outdoor environments to cater for small to medium sized events as well as modern MICE configurations.”

Other concepts include development of a brand-new multi-functional conference and exhibition area, scheduled to come into operation in 2024 and featuring “scientific innovations, diversified technologies, a flexible spatial layout and a plethora of high-end catering services.”

ENTERTAINMENT

One of the more intriguing concepts to be planned for development over the next decade is the development of a dedicated performing arts and entertainment district to showcase both Chinese and foreign performing arts. Expected to launch in 2024, this district would “present a 24/7 portfolio of original entertainment products” featuring large-scale projects to integrate tourism, arts and culture, entertainment performances, digital technologies, history and gastronomy.

Already signed on to the project is Chinese director Zhang Yimou and Beijing Dang Hong Qi Tian International Culture and Development Group Co, which was the VR experience provider of the 2022 Winter Olympics. This will be complemented by a multimedia space integrating art and entertainment experience with XR interactive technology, described as an “immersive art experience empowered by art, science and interactive entertainment designed for visitors of all ages.”

Resident shows have also emerged as a theme of the times, with plans afoot for at least four new shows — some to be brand new launches and some the return of shows that had been successful pre-COVID.

Among the other entertainment attractions to be developed or introduced in the near future are a new 16,000 seat multi-purpose arena; a 4,000-seat music and performing arts theatre; a new Cineplex boasting six theatres, an Imax theatre and five Director’s Club theatres; as well as a themed, interactive and immersive center offering “experiential entertainment through state-of-the-art technology for guests of all ages.”

SPORTS

Sports tourism has emerged as a particularly topical issue in recent months, with both the government and major Macau companies recognizing the significant opportunities that hosting high-profile sporting events can bring.

Macau is currently home to some events of note, including the annual Macau Grand Prix, however the President of the Macao Sports Bureau, Pun Weng Kun, recently expressed his belief that “the participation of large enterprises in sports events will increase the effectiveness of the events and attract more visitors to Macau, so that the public can also enjoy the high-level events.”

Already this year it has been confirmed that the Macao Open golf tournament will return in 2023, bringing many of the region’s top golfers with it as part of the Asian Tour. Likewise, the World Table Tennis (WTT) Champions Macao 2023 has already made its long awaited comeback this year.

Among the plans touted are the hosting of elite football and tennis events, including “invitational soccer matches between top teams from major leagues in Asia and around the world.”

One company has vowed to “deepen its cooperation with various industry stakeholders in Macau, Hong Kong, the Mainland and around the world in organizing exciting and interactive side activities to enhance branded sports tourism projects. These activities will boost the attractiveness and scale of the related events in Macau while facilitating ‘tourism + sports’ integrated development.”

Also planned to open is a skateboard park to promote sports activities, which will include an annual international skateboard competition from as early as 2025.

ARTS AND CULTURE

Macau already punches well above its weight on the international art scene with no shortage of art galleries and art exhibitions open to the public on any given day. But there is a lot more to come.

Among the proposals made public late last year are a new 7,000-square meter art museum incorporating “innovative and immersive technologies” and another for a 1,000 square-meter “Splendors of China” Museum planned to be an iconic, highly interactive and modern museum showcasing China’s millennial culture and the most important chapters in China’s history.

Similarly, specific plans to promote Macau’s cultural heritage include the creation of a “Macao Heritage Carnival” to be hosted throughout traditional areas of the city, with the organizer to offer trips for its patrons to Macau’s traditional areas and to host MICE group events visiting historical landmarks throughout Macau.

Also planned are “innovative programs to revitalize Macau’s rich cultural heritage including partnering with local artists to hold regular performances, exhibitions and workshops in rehabilitated buildings.”

HEALTH-BASED TOURISM

Health-based tourism is an emerging sector in Macau; one seen by the Macau government as providing a potential competitive advantage over regional peers as it develops over the coming years.

Major Macau companies have been quick to jump on board the trend via promises to launch new health-oriented tourism products and services. These are planned to incorporate “various health and wellness elements, including innovative ‘tourism + medical treatment’ products” among other features.

One of the more compelling proposals revolves around a first-class imaging and diagnostic medical check-up center offering magnetic resonance imaging (MRI), computer tomography scans (CT Scan), 2D and 3D mammography, ultrasound and X-rays. The clinic is described as “the first and the largest private imaging and medical check-up polyclinic in the Macau SAR, located in an integrated resort” and “a comprehensive wellness body check-up destination with full-fledged medical offerings.”

Also in the offing is an urban oasis that will embody the concept of “sustainable living art” and offer one-stop services combining wellness and medical offerings such as medical hydrotherapy, diet therapy, leisure and health management, medical tourism and health assessment.

THEMED AMUSEMENTS

Amusement parks have been largely overlooked in Macau over the years, perhaps due to the emergence of similar attractions in nearby Hengqin, although the mood appears to be shifting. In recent months we’ve seen the launch of a brand new indoor and outdoor water park in Cotai, covering an area of 9,670 square meters and with 16 attractions plus F&B facilities.

Also in the works is Macau’s first-and-only high-tech amusement park, targeting families and leisure visitors and planned to occupy approximately 61,000 square meters. It is planned to incorporate multimedia, interactive and multi-sensory technologies in the games and rides on offer.

CITY OF GASTRONOMY

Macau has no shortage of high-quality food and beverage options, from sumptuous local delicacies to Michelin-starred restaurants developed by the very best chefs in the world. In fact, the Michelin Guide Hong Kong Macau 2022 honored 15 Macau restaurants with a combined 26 Michelin stars – not bad for a city measuring just a little over 30 square kilometers!

But there’s a lot more to come. Taking on board the need for greater diversification and broader appeal for international tourists, Macau will soon welcome an initiative designed to highlight the unique range of experiences to be enjoyed whilst dining in Macau. This initiative is also aimed at supporting Macau’s development as a UNESCO Creative City of Gastronomy. This will see a range of new dining options launched over the next decade specifically designed to cater to the preferences of visitors from around the world.

There are also plans to launch a luxury yacht experience featuring on-board dining and entertainment including celebrity appearances, as well as water sports.

With dozens of new restaurants already scheduled to open in the next 12 months, Macau will certainly set itself as the place to be in Asia for diverse and distinguished dining.

COMMUNITY-BASED TOURISM

A key focus of the Macau SAR Government’s long-term plans for the city is community-based tourism – essentially the provision of day-to-day attractions in and around the streets of Macau that appeal to both tourists and the local Macau community and which take advantage of the unique characteristics of Macau society and neighborhoods.

Such ambition provides for a broad spectrum of possibilities, but the ideas have come thick and fast and provided a comprehensive blueprint focused on revitalization of the city. One of the major projects to be launched is a “Macau Historic Centre Revitalization Plan” which will involve a comprehensive re-engineering of the downtown area and tourism offerings within it.

The Macau Historic Centre Revitalization Plan will see the San Ma Lo area redeveloped into a “thriving cultural district with a strong sense of local community.” The plan includes creation of a riverfront food street under the theme of ‘from land to sea’ which is planned to span from Pier 14 to Pier 16 at the Inner Harbor.

A pedestrian district will be delineated to hold “large-scale events such as special festive markets and Macau Wine and Dine Festivals.”

The nearby Barra district is also set for a revamp into a scenic tourism center focused on developing the A-Ma Weekend Night Market, organizing regular evening bazaars and craft markets.

Elsewhere, in Cotai, the Le Jardin or “Tropical Garden” park area is set to be redeveloped to create a unique 50,000-square meter garden-themed destination. The proposed garden-themed attraction is planned to include an iconic conservatory together with related themed green spaces and amenities, becoming a Macau landmark of international renown, and providing a year-round themed attraction for tourists and residents.

MARINE TOURISM

At around 33 square kilometers in size and surrounded by water, it’s no surprise that the government has identified marine-based tourism as an opportunity yet to be adequately tapped. While there are challenges involved in doing this, there are plans to develop an international regatta as a Greater Bay Area spotlight maritime sports event and it has been proposed to develop Praia de Hac Sá in Coloane into a new maritime tourist and leisure area.

CAN MACAU DO IT?

The Macau SAR government is to be applauded for setting such ambitious goals for the economic diversification of the city. If there’s one lesson to be learned from the pandemic years, it’s that having all your economic eggs in one basket can be a recipe for disaster.

The MOP$109 billion pledged over the next decade represents an investment of MOP$210 million (US$26 million) a week – for 520 consecutive weeks! That’s a gargantuan amount of money in anyone’s language, but money alone cannot achieve the diversification the government desires.

The skills required to bring the vision to fruition are many and varied and will necessarily involve the importation of expertise from all four corners of the globe. It will require grit and determination over the months and years ahead. A visionary plan of this scale, involving wholesale changes in the nature of the SAR’s economy and even culture, not to mention the colossal investment of MOP$109 billion, will inevitably involve course corrections through the decade ahead. And most of all, it will require the enthusiastic buy-in of the people of Macau.

Whether Macau can do it or not remains to be seen, but judging by the plethora of plans, ideas and concepts on the drawing board, we’re certainly off to a flying start.

You may also like...