The number of conventions and exhibitions held in Macau in 2020 decreased by more than 70% compared to 2019, due to the impact of the pandemic, with the sector’s revenues falling to less than half, he said. announced today (Thursday).
In 2020, revenues in the field of congress and exhibition organization amounted to MOP 288 million, 53.7% less than in 2019, as the number of events “fell further. by 70% in annual terms, due to the impact of the pandemic. â, The Statistics and Census Service (DSEC), in a press release.
According to the note, revenues from convention and exhibition services fell by 60.2% during the same period, with the proportion of these revenues to total revenues dropping from 90.8% in 2019 to 78% in 2020.
During the year under review, the gross surplus of the branch recorded a deficit of 3.63 million MOP, according to DSEC.
Revenue from the advertising services business also declined significantly in 2020, reaching MOP 523 million, which is a 41.7% year-on-year decline “due to the fact that many large-scale activities have been suspended or canceled “and that” several branches of economic activity have spent less on advertising, “the statement said.
In 2020, the gross surplus of the advertising services branch recorded a deficit of MOP 10.54 million, according to DSEC.
According to the organization, in 2020 there were 666 establishments dedicated to advertising services (91 less than in 2019) and 109 to congress and exhibition organization services (17 less than the previous year).
The two branches of activity employed 2,110 people in 2020, or 789 less than in 2019.
Macau diagnosed the first case of covid-19 in late January 2020, counting only 75 cases so far and having recorded no deaths from the disease.
Despite this, the territory maintains strong border restrictions, which has resulted in a drastic drop in the number of visitors, hampering the economic activities of the world’s gambling capital, which is heavily dependent on tourism.