Content Writer: Janice Chew • Friday, 25/10/2025 - 17:08:59 - PM
Despite an uptick in visitor arrivals during the Golden Week holiday, Macau’s retailers are voicing frustration: foot traffic hasn’t translated into meaningful sales. In the eight-day period from September 29 to October 6, Macau welcomed 1.14 million visitors, averaging 143,000 daily — a modest 1.9 percent year-on-year increase in arrivals. The record border crossings—5.54 million over the holiday stretch—did little to boost consumption in shopping districts.
Retailers operating around prime tourist zones such as Senado Square and Rua da Felicidade report that sales were "markedly lower than expected," even though the volume of pedestrians was noticeably high. Lei Cheok Kuan, president of Macau’s Central and Southern District Chamber of Commerce, lamented that spending was “much weaker, even worse than during the May Day holiday.”
According to local merchants, weak spending is largely attributed to factors beyond mere footfall. One factor is a cooling mainland economy, which has dampened consumer confidence among Mainland visitors. Another is a shift in generational preferences: younger tourists (especially Gen Z) are said to have higher expectations and more selective consumption habits, making Macau’s existing retail mix less compelling for them.
This phenomenon contrasts sharply with Macau’s gaming performance during the same period. According to JP Morgan, casino gross gaming revenue (GGR) reached MOP 5.5 billion in the first five days of Golden Week — the strongest showing in over five years. The divergence suggests that while Macau continues to succeed in attracting gamblers, converting general tourists into active retail consumers remains a challenge.
