AGP Executive Report
Last update: 11 hours agoEconomic Growth: Macao’s GDP grew 2.9% year-on-year in the first three quarters to MOP316.2 billion, but growth slowed to 0.1% in Q3. Service exports rose 3.5%, while fixed investment increased 4.6%. Business Events: MICE receipts for non-gaming industries climbed 12.2% to MOP4.15 billion, despite slight declines in event numbers and attendance; international exhibitors and professional visitors increased. Tourism Strategy: The Tourism Development Committee discussed 2027 priorities, including closer Macao-Hengqin tourism cooperation. The government is also using sports events and ticket-linked offers to channel visitor spending to local businesses. Property: Industrial rents fell 5% quarter-on-quarter to MOP111 per square metre in Q3, while shop rents declined 3.3%. New commercial property lending dropped sharply in September, partly after a high previous month. Gaming Finance: Moody’s downgraded SJM Holdings to B2 with a negative outlook, citing high leverage, softer gaming revenue growth and refinancing needs.
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