China is to speed up the visa application process for mainland visitors to attend certain meetings, incentives, conventions and exhibitions (MICE) events in Macau, reports the territory’s Chinese language media.
The diversification of Macau’s tourism offer away from pure gambling and toward MICE business and family holidays in the manner of Las Vegas was a key objective when the territory’s government decided in 2002 to award gaming concessions or sub-concessions to overseas companies with experience in selling holidays, conferences and running shopping malls as well as in gambling.
In the first three quarters of 2011 the number of people attending Macau MICE events rose 39% year-on-year to 507,700 according to Macau’s Statistics and Census Service (DSEC). More than twice as many people attended MICE events in Macau in the third quarter of 2011 as in the whole of the first half of that year (247,700) according to DSEC.
The mainland authorities have vetted which events will qualify for the visa relaxation policy. Asia Adult Expo 2012 to be held at The Venetian Macao in the summer will not be one of them.
“So far 28 exhibitions were approved under this new policy and the first exhibition will take place in March,” said Union Gaming Research in a note today.
“In 2010 (the most recent available detailed data), approximately 656,000 persons attended these events. This accounts for 2.6% of total visitation in that year and represents an increase of 25% year-on-year.”
Union Gaming added: “We believe that the new policy allowing an easier visa process is likely to have a long term benefit for MICE events and attendees in Macau. Venetian Macao, which will be hosting 17 out of the total 28 events, is the greatest beneficiary of this new policy, given that the property has significantly more MICE space and holds more MICE events than other properties in Macau. We expect that entry from the People’s Republic of China to Macau will likely continue to become easier and faster, by allowing more people to become eligible for this MICE visa policy as well as the electronic (e-visa) systems.
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