Macau has to find its niche, says Pansy Ho

Macau has to shift from a gaming-only to a business and family destination in order to diversify its economy and reduce its dependency on casinos, a situation that is already jeopardizing other sectors in the territory, said Pansy Ho, co-chairperson and executive director of MGM China. Speaking at G2E Asia as a keynote speaker, Ms Ho warned that Macau continues to suffer the vulnerability of an economy dependent upon a single sector. Gaming today accounts for 25 percent of the labour force and 80 percent of government revenues. “The casino success was not in vain, of course, but we need to diversify and address our economic and social issues”, said the MGM director. “There’s no alternative sector to replace the success of the casinos in Macau; we should invest also in MICE, entertainment, retail, clubs and art to diversify our offer”. In order to become a worldwide tourist destination like Hong Kong, Macau needs to find its niche and to understand its opportunities and needs, she claimed.