The Macau is the special administrative region of China. In the month of October it opened a studio city, focusing on the middle class with some high end facilities. It does not include any VIP Gaming zone, but any attractive attractions. It includes theme park style rides, magic shows, internationally known night club. It has an arena where 5000 seats to host any national/international events.
At the opening ceremony the Melco Crown Co Chairman and CEO Lawrence declared that it is rise of the middle class customers that drives the growth of Macau and Asia. Also, it is built in a prime location virtually adjacent to the Lotus Bridge Border crossing, considering it as a Mass market property especially taking into mind the middle class.
Some Insightful Statistics on Growth
It has seen that the economic growth is significantly diminishing by 7.5% to the lowest rate by 25%. Due to these reason China’s middle class will expand to half a billion with a span of decade. It is also expected to rise in travellers by 2020 and the projection is 200 million Chinese. Also, there is a possibility to have travellers visiting from entire Asia and not only from China. It is a question whether they can make up the shortfall in high end visitors?
Does Middle Class hold Spending Power?
It has always a debatable topic whether middle class consumers hold the spending power that can replace Macau’s missing high end players. The Chinese visitors hold a better spending power which comes to MOP $5000 per capita. Also few visitors are interested in Gambling and the ones who likes didn’t gamble don’t spend MOP $2000 or less.
The spending level of the visitors has drastic effects on the economic growth. Macau required 24 million visitors to make the loss happened last year. Also as per the expert saying China’s middle class gamblers haven’t stopped keeping foot in Macau and it has always been a destination of choice for Chinese middle class Consumers.
Macau has to take a U Turn
For the region of Macau simply having facilities that serve middle class isn’t enough. It requires a major engineering works to be done planned accordingly that fits keeping in mind the premium market. To achieve the desired success and exposure it is important to reinvent the perceived service offerings available to every visitor in Macau.
Keeping the Brand in Mind
The key step that Macau has to put forward is branding. The authorities must think on it because Macau is not a hot destination for youngsters. They are the only ones who spend a lot while travelling. It is absolutely the fact that Macau has added more attractions for non-gamblers or gamers but there is still a scope for improvements.
To recapitulate we can say that for economic growth of Macau is only possible if they can match the deep and breadth of Las Vegas – a well-known Gambling destination across the globe. For Macau it’s now or never. Attracting Middle class visitors making it a world center for tourism and leisure that government authorities want.