Friday, November 14, 2008

Unemployment market += 11,000 headcount

11,000 construction workers at the Venetian Macau going to lose their jobs soon. I don't think Macau can ever regain the glory of the pre-tsunami days. Gambling and tourism... basically it is not a very child-friendly place. More of a place for big boys. If I were to have any say in Sand's decision-making I would also have chosen Singapore over Macau. You been to 1 casino you've been to them all. Macau has too many of them casinos to be sustainable.

Macau is a land of sleaze. Sex and gambling are the real money-making industries in the territory. What happens next? There will be alot of unemployed casino staff with no qualifications. Many left school after secondary education to become an apprentice in one of the many casinos.

Sure the government can try to appease the people by taking money out of the coffers but how long can it last? Macau is going down and I'm only too glad I never bothered to buy any property in Macau...

1 comment:

littlecartnoodles said...

I had a more optimistic outlook for Macau's potential as it had so many millions of gambling-starved Chinese just across the border.

But I can see why Beijing has imposed those visa restrictions. The Chinese govt will not tolerate its people enriching foreigners that are selling an addiction. (Sounds familiar ?)

Some of the casinos might be owned by Chinese like Stanley Ho and his offspring, but who would expect Beijing to treat that old polygamist as one of their own ?

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