Report Highlights:
U.S. exports of consumer-oriented agricultural products to Macau reached a record high of US$9 million in 2007, up 26% over 2006 and are expected to reach US$12 million in 2008. This surge is a result of Macau’s growing casino tourism and demand for quality-reliable food products by hotel catering/restaurants. Macau hosted 27 million visitors in 2007, a growth of 127% over 2003 and set to reach a record of 32 million tourist arrivals this year. Macau’s casino revenues reached US$10.5 billion, compared to Las Vegas’ US$6.8 billion in 2007. Macau’s HRI sector is expected to expand as more new casinos/resorts are set to open by 2010. In addition, Macau is deliberating a new policy to eliminate its tax on wine and beer, which is expected to stimulate direct exports of these products to Macau. Macau’s total imports of consumer-oriented F&B products are expected to reach US$500 million in 2008, 20% growth over 2007. As this market continues to develop, so will the growing opportunities for U.S. high quality foods and beverages. The top prospects for the Macau market include: wine, red meats, dairy products, confectionery products, fruit and vegetables. Wine and Gourmet Asia Show (Nov 5-7, 2008) provides an excellent opportunity for U.S. F&B exporters to penetrate this fast-growing market.