China’s Gambling Haven Surpasses UK or Italy in tourism receipts

China’s Gambling Haven Surpasses UK or Italy in tourism receipts

Tourists visiting Macau, China’s very own gambling haven have spent a total of £34bn during the year 2013. This figure was reported by the United Nations World Tourism Organisation. This figure proved to represent a higher tourism receipt that those obtained by countries such as Italy or UK during the same year.

This tourism receipt figure represented a 3.3% rise compared to the year 2012. USA still figures at the top of that list along with countries such as Spain, Thailand, Germany, Hong Kong and the UK figuring in the top 10 list.

Macau, which is under the “one country, two systems” arrangement and ruled by Beijing is the only Chinese destination where gambling is allowed. The region’s casinos are able to attract seven times more people than at the Las Vegas Strip.

However, Macau is still in a transitional phase and cannot yet be branded as a definitive gambling haven. Two thirds of the gambling revenue generated in the region comes from private games namely in the “VIP rooms” or private suites where massive bets are being levied. However, the Beijing government is initiating attempts to fight off corruption in the country.

During a recent visit to Macau last December, China’s president had called on the people to diversify their economic activities. Scholars and economists of the region are of the opinion that state enterprises and their associates operating in the Macau region are attempting to cut their costs and as such this has an adverse impact on VIP gaming.