Is Macau top job hopeful Sam Hou-fai betting against the house by taking aim at casinos?
Diversifying the economy is a tall order from Beijing, especially when gaming still brings in billions, experts say
China’s National Day “golden week”, which began on October 1, is usually a major travel and shopping period, but there was hardly any buzz in the historic heart of Macau last Wednesday afternoon.
On Rua da Felicidade, a picturesque street close to bustling Avenida de Almeida Ribeiro, jade shop owner Yan Kin-kok prepared for an afternoon nap. He had no customers since opening at 11am.
A government plan to diversify the local economy by turning the street into a pedestrian zone had not resulted in increased footfall and business for shopkeepers such as Yan.
Tourists came, snapped photos and left. Locals, meanwhile, had taken to shopping in Zhuhai and other mainland Chinese cities across the border.
Several shop windows carried posters appealing for a change in policy to bring back customers.
“Business now is even worse than during the three-year pandemic,” Yan lamented.
Some in Macau are betting on the winds of change after a new city leader is chosen on Sunday, with Sam Hou-fai, Macau’s former top judge, as the sole candidate after incumbent leader Ho Iat-seng decided against running for a second term.
