Macau retail sales down 26.4% YoY in July

Despite the summer season, which traditionally brings an influx of tourists to Macau, the city’s economic situation remains troubling. Both the retail and restaurant sectors have reported significant declines in sales, reflecting ongoing challenges in consumer spending.

According to the latest data from the Statistics and Census Service (DSEC), sales of interviewed retailers slipped by 26.4 percent year-on-year in July 2024. This sharp decline is particularly concerning during a period typically marked by heightened tourism activity.
Among the hardest hit were Watches, Clocks, and Jewellery Retailers, which experienced a drastic 39.1 percent drop in sales, followed by Leather Goods Retailers, whose sales decreased by 32.1 percent.
As previously reported, Macau’s visitor arrivals increased by 9.5 percent year-on-year, reaching over 3 million in July 2024. This figure represents 85.6 percent of the level recorded in July 2019, signaling a strong recovery in tourist numbers.
However, Macau’s gaming operators have acknowledged ongoing macroeconomic challenges, including a consumption slowdown impacting tenant sales in their shopping malls. These challenges are largely attributed to the softness of China's economy.
In addition to the retail sector’s struggles, the restaurant industry also experienced a downturn. Receipts of interviewed restaurants and similar establishments fell by 13.3 percent in July compared to the same period in 2023.
On a more positive note, there were some signs of improvement on a month-over-month basis. In July 2024, receipts of the interviewed restaurants and similar establishments increased by 7.4 percent compared to June. 

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