What is it about?
This study delineates the impact of the COVID-19 pandemic on the gambling industry using Macao, the world’s largest destination-dependent gambling hub, as a case.
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Why is it important?
We estimated the unprecedented decline in Macao's gaming revenue in 2020 due to COVID-19 using seasonal ARIMA model. Additionally, our findings confirm that Macao is a gambling-dependent economy as the decline in gambling revenue coincides with the decline in economic indicators such as GDP, median salary, and unemployment rate. This article concludes with pragmatic suggestions (e.g. reimagine strategies, seek virtual alternatives) to help gambling hubs that are destination-dependent to navigate in and recover from crisis such as the COVID-19 pandemic.
Perspectives
It is my great pleasure to collaborate with my co-author to explore the impact of COVID-19 in Macao and we will dive in to explore how COVID-19 has impacted most Asian countries since February 2020. Hopefully, we can make some constructive suggestions to rebuild economies in and cohesiveness among Asian countries.
Professor W.M. To
Macao Polytechnic University
Read the Original
This page is a summary of: The economic impact of a global pandemic on the tourism economy: the case of COVID-19 and Macao’s destination- and gambling-dependent economy, Current Issues in Tourism, April 2021, Taylor & Francis,
DOI: 10.1080/13683500.2021.1910218.
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