Few tourism destinations are
transforming at the same speed as Macau. A once sleepy, sleazy and largely ignored
Portuguese colony, it was handed back to China in 1999 to be ruled as a Special Administrative Region (like Hong Kong) - and subsequently moved into a
high developmental gear.
The post-handover catalyst was the
ending of
local tycoon Stanley’s Ho’s 40-year monopoly on Macau’s pivotal
casino industry. New concessions were awarded to Las Vegas kingpins Steve Wynn and Sheldon Adelson, injecting
new dynamism into Macau’s
tourism profile. Its
25 casinos are now operated by four companies; Stanley Ho’s Sociedade de Jogos de Macau (18), Galaxy (5) and Wynn and Venetian (one each). Two other operators, MGM Grand and Melco PBL, are building new casinos.
The
speed of
development is
breathtaking. In 2006, Macau’s neon-fuelled, casino-driven economy overtook Hong Kong in GDP growth for the first time, and attracted almost
22 million tourists (12 million of whom came from mainland China). Gross 2006 gaming receipts topped
US$6.9 billion, outpacing even Las Vegas.
But there’s more to Macau than opulent gambling palaces. Its
historic center became China’s 31st
UNESCO World Cultural Heritage site in 2005. The
sloping cobbled streets are redolent of Porto, and street signs are inked onto white tiled
azulejos. Even Macau’s currency, the
pataca, more closely resembles the old
escudo than the
yuan. In addition, there are
hill-top forts, cathedral ruins, Buddhist temples, a grand neo
-classical post office and several
atmospheric Portuguese cafes and
Cantonese restaurants.
New Macau is
still under construction, and
land reclamation has
doubled its territory, conjoining it with the islands of Coloane and Taipa. The resulting
Cotai Strip will be a new hotel, entertainment and gaming center from 2009, with up to 60,000 hotel rooms by names such as Hard Rock, Grand Hyatt, St Regis, Four Seasons, Shangri-La and Raffles. Richard Branson is planning to make his first foray into the casino market here. As Steve Wynn, President and CEO of Wynn Resorts recently remarked,
‘Macau is the safest bet on earth.’
The Columbus World Travel Guide has been published for 26 years and is sold in over 90 countries worldwide.
Related China Content
The Columbus World Travel Guide has been published for 26 years and is sold in over 90 countries worldwide.
Word Travels is a comprehensive travel guide covering hundreds of cities and holiday resorts in more than 125 countries.
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