Macau’s hotel occupancy rate reached 90.4 per cent in the first half of 2026, even as the number of hotel guests fell slightly. Figures from the Statistics and Census Service (DSEC) showed occupancy increased by 1.3 percentage points year-on-year during the first six months of the year.
The tourism data comes as Macau’s economy grew by just 0.3 per cent in the second quarter, a sharp slowdown from the start of the year. It also follows the International Monetary Fund’s recent decision to lower its 2026 growth forecast for Macau to 3.3 per cent, citing weaker gaming activity, higher interest rates and stronger regional competition.
Five-star hotels record highest occupancy
Five-star hotels continued to outperform other segments of Macau’s hotel market. DSEC data showed occupancy at five-star properties reached 93.8 per cent in the first half of 2026, up 1.4 percentage points from a year earlier. Four-star hotels posted the strongest improvement, with occupancy rising 4.3 percentage points to 87.4 per cent. By comparison, three-star hotels saw occupancy slip by 1 percentage point to 84.4 per cent.
Although hotels were fuller overall, total guest numbers edged lower. Macau’s hotel sector welcomed 7.13 million guests during the first six months of the year, down 1.1 per cent from the same period in 2025. Mainland China remained the city’s largest source market, but guest numbers fell 2.5 per cent to 5.21 million. Visitors from Hong Kong also declined by 2.5 per cent to 857,000.
International visitors provide support
International tourism continued to grow and helped offset some of the decline from Macau’s traditional markets. The number of international hotel guests rose 12.3 per cent year-on-year to 662,000, representing around 9.3 per cent of all hotel guests during the period.
Thailand recorded the fastest growth among the markets listed by DSEC, with visitor numbers increasing 43.5 per cent to 54,000. Arrivals from the United States rose 27.8 per cent to 34,000, while visitors from India and South Korea increased by 16.1 per cent and 13 per cent respectively.
The figures reflect Macau’s ongoing efforts to attract more visitors from overseas and reduce its reliance on mainland China and Hong Kong. June, however, was a weaker month. Hotel occupancy fell 2.6 percentage points year-on-year to 85.8 per cent, while guest numbers dropped 8.6 per cent to 1.1 million. International guests still recorded growth, rising 3 per cent to 94,000.
Inbound package-tour visitors also declined. Macau welcomed 845,000 package-tour visitors in the first half of 2026, down 12.6 per cent year-on-year. Visitors arriving from mainland China through package tours fell 16.7 per cent to 681,000.
Macau GDP growth slows sharply
While tourism remained relatively stable, economic growth lost momentum during the second quarter. According to DSEC, Macau’s gross domestic product (GDP) increased by 0.3 per cent year-on-year between April and June, compared with growth of 7.1 per cent in the first quarter.
GDP totalled MOP102.33 billion ($12.7 billion) during the quarter. For the first half of 2026, economic output reached MOP209.89 billion ($26.1 billion), representing real growth of 3.7 per cent.
DSEC said the expansion was supported by stronger service exports and higher visitor arrivals. Exports of services rose 7.2 per cent during the first six months of the year, while visitor arrivals increased by 9 per cent.
Private consumption expenditure grew by 2.8 per cent. However, government final consumption expenditure fell by 0.2 per cent and gross fixed capital formation dropped by 9.4 per cent, indicating weaker investment activity.
Economy remains below 2019 levels
Despite continued growth, Macau has not yet returned to pre-pandemic levels of economic activity. DSEC said economic output in the first half of 2026 was equivalent to 89.1 per cent of the level recorded during the same period in 2019.
The latest figures add to concerns about the pace of Macau’s recovery. Several institutions, including the IMF, Citigroup, Morgan Stanley and Macquarie, have recently lowered expectations for the city’s gaming sector and wider economy.
The gaming industry has faced a challenging few months. June gross gaming revenue fell 12.1 per cent year-on-year to MOP18.52 billion ($2.29 billion), the first monthly decline since January 2025.
While tourism indicators remain relatively strong, recent economic and gaming data suggest Macau’s recovery is becoming more gradual as the city faces slower growth and increasing competition from other destinations across Asia.
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