Macau is famous for its spectacular skyline, top-tier hotels, and successful tourism development. Now, it is working hard to improve its appeal overseas. To add to its portfolio, Galaxy Entertainment Group (GEG) has opened an office in Singapore. This is intended to strategically diversify the company's tourism business. The company's geo-strategy is to deepen its engagement in the region and reinforce Macau's growing business tourism position.
The office will be strategically located in the middle of Singapore's bustling central business district, which makes it easier to promote tourism programs to Singapore and the region. The expansion will improve Singapore and the region's PAB-C (Post COVID MICE, Association, Business, and Conference) travel demand. This will then promote business cooperation between local and Macau companies.
A Key Step in Macau's Strategy to Broaden Its Offerings in Tourism
This office opening is part of a wider strategy to diversify and broaden tourism attractions of the Macao Special Administrative Region (SAR) Government. In the past, Macau was a main destination to a significantly high number of tourists from mainland China. However, the government aims for more sustainable long-term growth by ensuring more global tourists. With a growing economy and an expanding middle class, Southeast Asia is an area of great promise for diversification of Macao's tourism.
To enable more global tourism, the Macao SAR Government has implemented policy frames aimed at offering tax breaks from international revenue generated from gaming, which include a tax reduction of up to 5% of the global revenue for international visitors which excludes mainland China, Hong Kong, and Taiwan. With this in mind, the opening of the Singapore office of GEG is a strategic move which seeks to fulfill the government's wider ambitions of increasing global tourism to Macau and reinforcing the cultural and economic ties of the region with Southeast Asia.
Serving the Growing MICE Market
Apart from focusing on leisure tourists, the Singapore office of GEG is going to help promote the MICE industry in Macau. Southeast Asia is quickly becoming a center of international business and Singapore is on the leading edge of this. It is also a perfect gateway for GEG to connect with other firms to arrange MICE in Macau because of the magnificent infrastructure and its central location in the region.
Through the new office, GEG aims to provide finely tuned services to professionals and companies wanting to organize meetings, conferences and incentive travel to Macau. GEG's Singapore office is going to help streamline the planning of other large conferences and unique incentive trips, so Macau becomes an easier, more appealing option for business events in the region. With its all-encompassing services, GEG is going to enable companies to deliver unforgettable experiences to their clients, thereby, reinforcing Macao's position as a MICE city.
Macau's Appeal to Travelers from Southeast Asia
There has been a noticeable increase in Singaporean Travelers visiting Macau in the past few years. Recent figures show a 2.9% increase in Singaporean travelers visiting Macau with over 5800 travelers from Singapore in the month of July over the past few years. This increase in Singaporean travelers shines a light on the awe-inspiring attractions that Macau has to offer, from luxurious hotel resorts, gaming, a unique diverse culture, and mouth watering gastronomy.
Their is a standout demand for Macau, and with the new GEG office planned to be opened in Singapore, they are ready to meet that demand with a personal approach. This office will implement heavily customized travel packages and unique services that will help Singaporean and the broader Southeast Asia enjoy Macau. GEG is planning to have customer service representatives who will streamline travel packages to ensure visitors have a smooth visit to Macau. This will benefit GEG as more visitors from the Southeast Asia region will visit Macau. GEG's primary objective is to help strengthen Macau as a world famous international destination.
##A Regional Trend of Growth and Expansion
Like its competitors in gaming and hospitality in Macau, GEG opened its office in Singapore as part of its strategy to grow in the region. Also in 2023, Melco Resorts, an important player in the Macau gaming market, opened a sales office in Singapore, underscoring Southeast Asia's growing importance as a tourism and business destination. Also, both GEG and Melco are keeping in mind the expansion of the international travel market and are taking advantage of Singapore's strong business environment and global connectivity to cater to new customers.
This office will allow GEG to strengthen its bonds with the region's businesses, travelers, and other stakeholders. Also, GEG would be able to promote Macau more effectively as a destination for business and leisure tourism.
A Promising Future for Macau's Global Tourism Reach
GEG's investment in an office in Singapore shows how much GEG continues to push for Macau tourism. As global travel increases, and travel demand to Southeast Asia increases, establishing an office in Singapore will serve to capture both new tourists and business partnerships. GEG will certainly be able to further enhance Macau as a world-class international travel destination with a growing emphasis on business and leisure tourism.
Singapore's office in the future will be vital to GEG's efforts in establishing Macau internationally. Singapore's continuing economic growth will ensure that GEG will be able to keep Macau competitive, and will allow him to maintain the region's most important position for travel, tourism, business conferences, and cultural exchange. GEG will be seen as a crucial part of Macau's world tourism position, owing to his commitment to novel travel technology, and travel tailored especially for the region.