The high-end tourism and accommodations market in Macao is poised for substantial development, having already demonstrated rapid growth potential amid global economic uncertainties, business executives and analysts said.

The growth is attributed to the vibrancy and inclusivity of cultural and tourism elements, as well as the continuous enhancement of infrastructure and policies promoting the connectivity of the Guangdong-Hong Kong-Macao Greater Bay Area, they said.

"I've observed significant shifts in consumer demand within the high-end tourism market," said Timothy M Kelly, property president of City of Dreams, a resort integrating entertainment, retail and accommodations located in Macao. "Today's travelers seek not only luxury accommodations, but also unique, immersive experiences that connect them to the local culture and environment. There's a growing preference for personalized services and sustainable practices, reflecting a more conscientious consumer mindset."

In the 2024 Star Awards by the Forbes Travel Guide, 22 hotels in Macao were granted a five-star rating. It was the second year in a row that the city led the world in Forbes-endorsed luxury accommodations.

"Despite the challenges posed by the economic environment, we are seeing resilience in the high-end market," Kelly said. "Guests are increasingly prioritizing quality over quantity, often willing to invest more in exceptional experiences, as indicated by our strong recovery indicators… The high-end tourism and hotel market in China presents significant growth opportunities."

He said his company's customer base remains diverse, with a significant proportion coming from the mainland. It is also welcoming an increasing number of international visitors, particularly from Southeast Asia.

"Our analysis indicates that destinations that can integrate cultural elements and provide personalized services will thrive," he said. "Additionally, with the government's initiatives to promote domestic tourism and enhance infrastructure, we are very positive and expect to see a boost in travel within China."

According to the Public Security Police Force of the Macao Special Administrative Region, as of Dec 7, the cumulative number of inbound and outbound visits to and from Macao has exceeded a record 200 million this year, up from 180 million in 2023.

Experts said that the vibrancy and inclusivity of cultural and tourism elements in Macao, along with consistent improvements in infrastructure and policies to boost communications with the mainland, have increased the region's appeal to visitors.

A guideline on the development of the Guangdong-Hong Kong-Macao Greater Bay Area released by the State Council in 2019 underscored Macao's importance in promoting multicultural communications, which was exemplified by the emerging impromptu art stages at the Lai Chi Vun shipyards, a well-preserved site honoring Macao's shipbuilding industry, and the prosperity of samba dancing and lion dance performances, among others.

Furthermore, advancements in technology have injected new life into traditional tourism projects in Macao, as museums are adopting virtual reality and 3D technology to create simulators to entertain visitors or showcase the region's distinctive architectural and cultural heritage sites.

Wu Zhiliang, president of the board of directors of the Macao Foundation, said that over the last 25 years, there has been a transformation in cultural activities in Macao, shifting from two-way exchanges between Portugal and China to broader multilateral interactions with a diverse range of nations and cultures.

He said Macao's reputation as a premier destination for tourism and leisure has been further solidified, contributing to the enhanced resilience of its economy. The brighter economic outlook has also empowered the Macao SAR government to enhance the well-being of its residents.

In addition, enhancements in infrastructure, including the completion of the new Hengqin Port and the Qingmao Port, as well as policies that make traveling between the Chinese mainland and Macao more convenient such as the mutual recognition of driver's licenses, have also added to the region's appeal to visitors.

In a recent survey by the China Tourism Academy, Macao became the most satisfying destination for mainland tourists in the first quarter for the first time, thanks to policies that made permit-issuance and customs clearance easier, as well as improved transportation infrastructure.