Core Insights - The total non-gaming expenditure of tourists in Macau is projected to increase by 14.2% year-on-year to MOP 21.87 billion in Q4 2025, driven primarily by a significant rise in spending from same-day visitors, which surged by 85.9% to MOP 5.34 billion [1] - The total non-gaming expenditure for the entire year of 2025 is expected to reach MOP 80.12 billion, reflecting a year-on-year increase of 6.3% [1] Summary by Categories Q4 2025 Tourist Expenditure - Non-gaming expenditure per tourist in Q4 2025 is estimated at MOP 2,104, showing a slight decline of 1.0% year-on-year but an increase of 7.9% quarter-on-quarter [1] - The main categories of tourist spending are shopping (45.4%), accommodation (25.0%), and dining (20.6%) [1] - Exhibition visitors have the highest per capita expenditure at MOP 4,821 in Q4 2025 [1] Annual Expenditure Trends - For the full year of 2025, the expenditure from overnight tourists is projected to be MOP 63.31 billion, while same-day visitors are expected to contribute MOP 16.81 billion, marking increases of 1.6% and 28.9% respectively [1] - The average non-gaming expenditure per tourist for the year is forecasted to be MOP 2,000, reflecting a year-on-year decrease of 7.3% [1] Key Source Markets - Per capita expenditure from key source markets shows a decline: Mainland China at MOP 2,245 (down 10.3%), Hong Kong at MOP 988 (down 2.1%), and international tourists at MOP 2,064 (down 3.5%) [1] - In contrast, Taiwan's per capita expenditure increased by 6.7% to MOP 2,083 [1] - Exhibition visitors continue to have the highest per capita expenditure for the year at MOP 4,572 [1]

Core Insights - The total non-gaming expenditure of tourists in Macau for Q3 2025 reached MOP 20.38 billion, representing a year-on-year increase of 10.7% [1] - The spending by overnight tourists was MOP 16.76 billion, up 7.6%, while same-day visitors spent MOP 3.62 billion, an increase of 27.6% [1] - The average non-gaming expenditure per tourist decreased by 2.6% year-on-year to MOP 1,950, despite increases in individual categories of spending [1] Group 1: Tourist Spending Patterns - Tourists primarily allocated their spending to shopping (42.4%), followed by accommodation (26.7%) and dining (21.2%) [1] - The average non-gaming expenditure per overnight tourist was MOP 3,846, reflecting a 5.0% increase, while same-day visitors averaged MOP 595, a 3.5% increase [1] Group 2: Source Markets and Expenditure - Average non-gaming expenditure for mainland Chinese tourists was MOP 2,123, down 5.0%, while tourists from Hong Kong and Taiwan saw slight increases [2] - International tourists had an average expenditure of MOP 2,261, with notable increases from Southeast Asian countries like Singapore (14.0% increase) and Thailand (11.9% increase) [2] - The highest spending was recorded by tourists attending exhibitions (MOP 4,488) and those watching performances/events (MOP 3,324) [2] Group 3: Year-to-Date Trends - For the first three quarters of 2025, total non-gaming expenditure reached MOP 58.25 billion, a 3.6% year-on-year increase [3] - The average non-gaming expenditure per tourist for the year-to-date was MOP 1,963, reflecting a 9.5% decrease compared to the previous year [3] - The average spending from key source markets showed declines, with mainland Chinese tourists averaging MOP 2,206, down 11.3% [3]

Group 1 - The total non-gaming expenditure of tourists in Macau for Q2 2025 reached MOP 18.25 billion, representing a year-on-year increase of 4.6% [1] - Among the total, overnight tourists contributed MOP 14.64 billion (up 4.4%) and same-day visitors contributed MOP 3.61 billion (up 5.5%) [1] - The average non-gaming expenditure per tourist was MOP 1,950, showing a year-on-year decrease of 12.3% [1] Group 2 - The main spending categories for tourists were shopping (41.5%), accommodation (24.9%), and dining (22.5%), with a noted increase in dining expenditure and a decrease in shopping expenditure [1] - By major source markets, the average non-gaming expenditure per tourist from mainland China, Hong Kong, and Taiwan decreased by 15.0%, 9.1%, and 5.1% respectively [2] - International tourists had an average expenditure of MOP 2,134, down 10.2%, with specific changes noted for tourists from South Korea (down 1.5%) and Japan (up 18.5%) [2] Group 3 - For the first half of 2025, total non-gaming expenditure by tourists was MOP 37.86 billion, a slight increase of 0.2% year-on-year [3] - Overnight tourists' expenditure totaled MOP 30.01 billion (down 1.4%), while same-day visitors' expenditure increased by 7.0% to MOP 7.85 billion [3] - The average non-gaming expenditure per tourist for the first half was MOP 1,970, reflecting a year-on-year decrease of 12.8% [3]