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The economic impact of a global pandemic on the tourism economy: the case of COVID-19 and Macao’s destination- and gambling-dependent economy

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  • Weng Marc Lim
  • Wai-Ming To

Abstract

Availability of full-year economic data is indicative of an opportune time to compare and contrast predicted and actual economic impact. In this regard, this study delineates the impact of the COVID-19 pandemic on the gambling industry using Macao, the world’s largest destination-dependent gambling hub, as a case. Using a series of quantitative analysis (ARIMA, correlation, and regression) on longitudinal data, the findings reveal that the revenue of the Macao gambling industry is significantly dependent on tourist arrivals, and that the industry is evidenced – using predicted and actual values – to experience an unprecedented decline in revenue as a result of plummeting tourist arrivals. The findings also indicate that Macao is a gambling-dependent economy as the decline in gambling revenue coincides with the decline in economic indicators such as GDP, median salary, and employment rate. This article concludes with pragmatic suggestions (e.g. reimagine strategies, seek virtual alternatives) to help gambling hubs that are destination-dependent to navigate in and recover from crisis such as the COVID-19 pandemic.

Suggested Citation

  • Weng Marc Lim & Wai-Ming To, 2022. "The economic impact of a global pandemic on the tourism economy: the case of COVID-19 and Macao’s destination- and gambling-dependent economy," Current Issues in Tourism, Taylor & Francis Journals, vol. 25(8), pages 1258-1269, April.
    • Handle: RePEc:taf:rcitxx:v:25:y:2022:i:8:p:1258-1269
    DOI: 10.1080/13683500.2021.1910218
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    Cited by:

    1. To, Wai Ming & Lee, Peter K.C., 2024. "Modeling of the COVID-19 impact on air passenger traffic in the US, European countries, and China," Journal of Air Transport Management, Elsevier, vol. 115(C).
    2. Mohd Naved Khan & Neha Gupta & Manita Matharu & Mohammad Faisal Khan, 2023. "Sustainable E-Service Quality in Tourism: Drivers Evaluation Using AHP-TOPSIS Technique," Sustainability, MDPI, vol. 15(9), pages 1-23, May.
    3. Xianke Li & Johnny Fat Iam Lam & Zhicong Lin & Chongyan Li, 2024. "Development Path of Macao Tourism Symbiosis Integration from the Configuration Perspective," Sustainability, MDPI, vol. 16(19), pages 1-16, September.

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