Macau’s six concessionaires will cover more than half the cost of putting on this year’s Macao International Travel (Industry) Expo (MITE), according to the director of the city’s main tourism body.
Macao Government Tourism Office (MGTO) director Maria Helena de Senna Fernandes revealed at a press conference that the total budget for this year’s expo had risen by 23% over last year to MOP$31.8 million (US$3.94 million) due to an increase in foreign exhibitors and logistics costs.
However, the concessionaires will cover MOP$18 million (US$2.23 million), or MOP$3 million (US$371,300) each, of those costs, with the Macau Association of Travel Agencies paying MOP$7.9 million (US$977,800). That leaves just MOP$5.9 million (US$730,300) for the government to spend.
MITE is an annual expo organized by the MGTO and based around tourism. The theme of this year’s expo is “MITE connects the World”, with the goal of exploring ways to attract visitors from all over the world to Macau.
It is scheduled to run from 30 June to 2 July 2 in Halls A and B of Cotai Expo at The Venetian Macao. The MGTO said the expo will cover an area of 23,000 square meters with about 870 booths.
Macau’s six concessionaires signed new 10-year concession contracts in December, committing to invest a combined MOP$118.8 billion (US$14.9 billion) into Macau over the duration of their concessions including MOP$108.7 billion (US$13.6 billion) on developing foreign source markets and non-gaming projects.
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