HONG KONG: Macau’s leader Ho Iat Seng said on Monday that the world’s biggest gambling hub was too dependent on the casino industry, warning that the Chinese territory was facing acute challenges as it emerges from the coronavirus outbreak.
Ho said that the coronavirus had “fully exposed the vulnerability and huge risks of Macau economy’s over reliance on gaming tourism.” The former Portuguese colony has banned entry for visitors from mainland China, neighbouring Hong Kong and Taiwan who have travelled overseas in the previous 14 days. Visitors from the greater China region make up more than 90% of its tourists.
The cultural and creative industries that the government has committed to promote, account for less than 1% of GDP compared to the proportion of gaming which is over 50%, he said.