How Will Singapore Casinos Affect Macau and Hong Kong?
23 April 2005
Singapore’s plan to open two casinos has given rise to concern from two of China’s Special Administrative Regions (SAR), but Chinese tourism officials believe that the new casinos shouldn’t affect Chinese tourism to Hong Kong or Macau.
Since Singapore is not as close to Mainland China as the two SARs, many believe that it doesn’t pose a significant threat to their economies. In addition, both Hong Kong and Macau have special tourist attractions that set it apart from other tourist destinations. Hong Kong is known as the “Gateway to China” and has many festivals, including the Flower Festival, the Buddha Festival, and the Dragon Boat Festival. Macau, on the other hand, has landmarks of Chinese heritage and history.
In addition, Macau is fast becoming the most popular casino destination. Revenues have grown 30% in the past three years, while there has only been a 4% revenue growth in Las Vegas, currently considered the number one gaming city in the world. Las Vegas made US$5.3 billion last year, but Macau wasn’t far behind with US 5 billion in revenues. With the Macau gambling industry fast rivaling that of Las Vegas, Chinese tourism officials are convinced that Singapore’s two casinos pose virtually no threat to its SARs, particularly Macau.
Source: Online Casinos News Staff
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