Dublin, Dec. 24, 2024 (GLOBE NEWSWIRE) -- The "Macau Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Macau is estimated to grow by 5.6% in real terms in 2024, supported by a rise in tourism, coupled with investments in leisure and hospitality and retail buildings.
According to the preliminary data released by Macau's Public Security Police Force in early November 2024, the number of visitors to the city surpassed 30 million until early November 2024 - already exceeding the total of 28.3 million registered in 2023. The average daily inbound visitor count totals approximately 95,000, marking a year-on-year (YoY) increase of 27%.
Additionally, visitor numbers had returned to approximately 87% of the levels seen before the Coronavirus (COVID-19) pandemic, in 2019. In another boost to the tourism sector, Macau's gaming revenue climbed to a new post-COVID high in October 2024, owing to a surge in tourism during China's Golden Week holiday. According to the data released by the Gaming Inspection and Coordination Bureau in early November 2024, gross gaming revenue reached MOP20.8 billion ($2.6 billion) in October 2024, marking a YoY increase of 6.6%. The revenue received in October 2024 marks the highest revenue figure since major COVID-19 restrictions were lifted in early 2023.
The analyst expects the construction industry in Macau to register an average annual growth rate of 4.6% from 2025 to 2028, supported by investments in transport and energy infrastructure projects, coupled with the government initiatives aimed at boosting economic growth. In October 2024, Macau's Public Works Department (DSOP) opened the tender for designing and building the Grand Taipa Tunnel and its southern link. Construction on the Taipa Grande Tunnel-a 600m connection between the Macau Bridge and Cotai-is expected to begin in the second quarter of 2025.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Macau, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
- Assess market growth potential at a micro-level with over 600 time-series data forecasts
- Understand the latest industry and market trends
- Formulate and validate business strategies using the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Latest news and developments
4 Project analytics
5 Construction Market Data
6 Risk Profile
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ymtbtc
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
