Macau Sees Strong Q3 Spending and Tourism Surges

Macau’s non-gaming visitor spending rose 10.7% year-on-year to MOP 20.38 billion (US$2.53 billion) in the third quarter of 2025, extending the growth momentum observed in the previous quarter. The increase signals a steady recovery of the city’s tourism and retail sectors following years of pandemic-related disruptions. According to the Statistics and Census Service, this growth is part of a broader trend of rising tourism activity, reflecting both domestic and regional demand as visitor confidence gradually strengthens. Tourism and retail operators have expressed optimism, noting that upcoming events and holiday periods could further boost spending in the fourth quarter.

Macau's Developments

The underlying growth was supported by a 14.5% rise in visitor arrivals over the first nine months of 2025, with same-day visitors recording an increase of nearly 25%. Analysts attribute the strong inflow to improved transport links between Macau, the Mainland and Hong Kong, alongside the implementation of travel facilitation measures such as Zhuhai’s “one-week-one-visit” and Hengqin’s “multiple-entry” schemes. These initiatives have lowered barriers to cross-border travel, making Macau a more accessible destination for short- and medium-term visits, while also encouraging repeat visits from key Mainland markets.

• Macau’s non-gaming visitor spending rose 10.7% year-on-year to MOP 20.38 billion (US$2.53 billion) in Q3 2025, driven by luxury tourism, high hotel occupancy, and retail recovery.

• Visitor arrivals increased 14.5% in the first nine months of 2025, with same-day visitors up nearly 25%, supported by improved transport links and travel facilitation policies.

• Major events and holidays—including the National Games, Macau Grand Prix, and Food Festival—are expected to boost fourth-quarter consumption, with experts urging diversified tourism offerings and neighbourhood revitalisation.

High-end travellers played a particularly significant role in driving non-gaming spending during the quarter. Luxury retail outlets, premium hotels, and fine dining establishments reported sustained demand, while casino performance and high hotel occupancy further reinforced the sector’s overall recovery. Conventions, exhibitions, and sporting events also contributed to higher per-capita spending, underscoring Macau’s evolving “Tourism+” model that blends leisure, cultural, and lifestyle experiences. Data show that shopping, accommodation, and dining together accounted for more than 90% of total non-gaming expenditure, highlighting the continued dominance of core tourism services even as the city seeks to diversify its offerings.

Despite positive indicators, analysts caution that spending growth is uneven across market segments. Some key Mainland visitor groups have shown greater price sensitivity, leading to softer spending in certain categories. Small businesses, in particular, report challenges in fully leveraging the increased tourist flows, signaling the need for a more diversified product mix and community-based tourism initiatives that can capture broader segments of visitor demand. Observers suggest that enhancing experiential and locally rooted tourism products could help address these gaps and support sustainable growth.

Macau’s third-quarter performance underscores the city’s continued recovery in non-gaming sectors, but sustained growth will depend on broadening the appeal of local offerings beyond traditional luxury and casino-linked services.

Conclusions & The Future

Looking ahead, Macau’s fourth-quarter outlook appears strong. A series of high-profile events—including the National Games in November, the Macau Grand Prix, the Food Festival, and a lineup of international concerts—are expected to stimulate consumption, complemented by the traditional holiday season spanning Christmas and New Year. Tourism experts recommend aligning marketing and promotional campaigns with major events, while also investing in neighbourhood revitalisation efforts to encourage longer stays and unlock additional spending potential. Strategic efforts to integrate cultural, lifestyle, and local experiences with traditional tourism could further strengthen Macau’s position as a regional leisure destination.

Macau’s third-quarter performance underscores a broader recovery of the non-gaming sector, demonstrating resilience in the face of evolving market dynamics. While luxury and casino-linked tourism remain central to the city’s economic strategy, analysts emphasize the importance of innovation and diversification to maintain momentum, address visitor price sensitivity, and enhance the city’s appeal to a wider range of domestic and regional travellers.