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Chinese bookings for Macau during the five day Golden Week holiday in May are up 20 percent over 2019 levels, according to Trip.com.
Macau Labor Affairs Bureau (DSAL) deputy director believes there will be fewer blue-card holders in Macau if the unemployment rate continues to rise. The last time unemployment was this high was around 2009-2011, shortly after the global financial crisis. Chan added that some industries will suffer more than others.
Macau's narrow economic base and its high concentration of tourists from China restrain the city's credit rating and have contributed to historically high levels of gross domestic product volatility, Fitch Ratings says.
Macau chief executive Ho Ian Seng has told lawmakers that there are currently no plans to relax restrictions on non-resident foreigners from entering Macau.