During the Golden Week vacation, a huge number of Chinese tourists descended on Macau in large numbers after the world's largest gambling centre announced a packed schedule of events, including a poolside dance party with former NBA star Shaquille O'Neal, to draw people to casinos.

According to official city data, more than 932,000 tourists arrived during the eight-day holiday that concluded last Friday, bringing the daily average to roughly 85% of 2019's for the same period.

According to the data, 76% of the visitors came from China's mainland.

Spending by visitors was also significant. According to estimates by Citigroup Inc. and JPMorgan Chase & Co., gaming income from mass-market tourists—who are now the main engine of Macau casino expansion in the wake of China's crackdown on high rollers—is likely to have fully recovered to pre-pandemic levels.

According to a JPMorgan projection from last month, mass gaming revenue may reach approximately 110% of the level of 2019 next year, propelling casinos' profitability to a full recovery by mid-2024.

The growth in Macau demonstrated China's soaring tourism demand, which was fueled by retaliation travel and a change in consumer preferences to greater experience-related expenditure in response to domestic economic slump.

The latter occurred at the same time as the hub was taking steps to stop depending on high rollers and their agents and change into a destination for entertainment similar to the Las Vegas Strip.

China's only location with legal casinos is Macau.

In addition to the O'Neal-hosted celebration, Macau also hosted fireworks displays, a music festival, and performances by well-known Hong Kong singers Kelly Chen and Hacken Lee during Golden Week.

For Macau to continue its rebound momentum—which halted in September when typhoon- related bad weather caused a brief shutdown of the casinos—it is imperative to bring in more tourists.

Although more individuals are traveling, China's general slow economic growth and hazy consumer spending outlook could prove to be a hindrance.

While expenditure may only increase 5% from its pre-COVID performance during the Golden Week, the daily average number of domestic travelers across the nation is anticipated to exceed 2019 levels by roughly 15%.

In Macau, there are already some indications that consumption is slowing.

According to Hong Kong's Commercial Radio, which cited Oliver Tong, general manager of Jones Lang LaSalle Inc. in Macau, more than 10 stores of goods like clothing, electronics, and