Monday’s memo from DS Kim, an analyst at JP Morgan Securities (Asia Pacific), said it was “a significant step toward normalizing Macau.”
He said the agency was “optimistic about a gradual but meaningful recovery from December, and it would be possible to the extent that the industry can print positive EBITDA [earnings before interest, taxation, depreciation and amortization], or about 35% of COVID-19 large game sales (GGR).
“We believe this resumption greatly reduces friction in Macao travel. That means you don’t have to pre-book your application slots, you don’t have to interview them, you don’t have to wait more than seven days to get your visa approved,” the analyst pointed out.
Although Kim acknowledged there were still “multiple test requirements” for travelers regarding evidence of being free from COVID-19 infections, he added that “overall travel sentiment” within mainland China is still “very depressed amid the resurgence of COVID-19.” We added that we do not have the illusion that Macau GGR will suddenly snap back on the resumption of electronic visas.
In a statement welcoming the National Tourism Board’s announcement on Monday, the Macau government confirmed that the resumption of e-visa requests will apply to applications submitted anywhere in the country, and that a phased portion of the new easing will apply to group tours.
The tourism trade first looks forward to package tours for group travelers from neighboring Guangdong Province, and package tours for group travelers from Zhejiang, Jiangsu, Fujian and Shanghai cities.
“The central government’s resumption of electronic visa applications for mainland Chinese residents’ visits to Macau and resumption of package tours from ‘one city in four provinces’ to Macau is an important driver of Macau’s economic recovery,” a Macau government statement said. 경마사이트프로