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China's top tourism officials assured Macao and Hong Kong yesterday that Singapore's decision to open two casinos won't lead to a decline in the number of mainlanders visiting the two SARs.
China National Tourism Administration Vice-Chairman Gu Zhaoxi said the number of mainlanders travelling overseas has been soaring in the recent years at a pace the world hadn't seen before, which can offset the increase in new attractions such as the Singapore casinos. Therefore, the number of mainland visitors the two SARS is unlikely to drop.
China International Travel Service Executive Vice-Chairman Yao Yuecan was more straightforward. He said Singapore is further away from the mainland than Hong Kong and Macao, so the SARs need not worry about losing mainland patrons.
Macao has other attractions beside casinos, such as Chinese heritage landmarks and historical places of Western influence, Yao said.
Gaming industry executives, too, sounded confident about Macao's potential to out-perform other gambling centres, including world leader Las Vegas in the US.
"Don't be surprised if in the next 10 years you hear Las Vegas referred to as America's Macao," said Galaxy Casino Chief Executive Anthony Carter.
Macao's gaming revenues grew 30 per cent in the past three years to US$5 billion in 2004, against a 4 per cent growth in Las Vegas, which made US$5.3 billion last year.
Lui Che-woo, founder of K. Wah Construction Materials, which bought Galaxy yesterday, too, brushed aside the perceived challenge from Singapore: "There's no comparison with Macao. Singapore isn't doing it in a big way."
(China Daily HK Edition April 20, 2005)
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