Macau poised to drive development of Greater Bay Area’s sports industry, summit hears

‘Sport is the common language,’ says Brooklyn Nets owner Joe Tsai as he looks to bring NBA games to the bay area
Sport is seen as having a key role in propelling Macau’s social and economic development as it diversifies away from gaming

Greater Bay Area

Jiaxing Li

Published: 6:59pm, 23 Feb 2024

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Macau is setting the stage to become a key driver of the Greater Bay Area’s sports sector, as the city looks to tap its tourism strengths and expand its economy beyond the gaming industry, a conference heard.

As a centre of trade and economic cooperation with strong conference and tourism facilities, Macau can play a vital role in making strong connections in the sports industry, Vincent U, president of the Macau Trade and Investment Promotion Institute, said in his opening remarks at the Greater Bay Area International Sports Business Summit in Macau on Friday.

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Basketball game pits pros against celebrities at Greater Bay Area sports summit in Macau

“[This summit] is the first of its kind in Macau and it aligns with the city’s strategy to promote the MICE [meetings, incentives, conferences and exhibitions] and the sports industry,” he said.

The city will help the sports industry to seize business opportunities within the wider bay area for future ventures, he added.

Themed “connecting the world through sports” and supported by the Sports Bureau of the Macau government and the Macau Trade and Investment Promotion Institute, the summit brought together more than 300 influential decision makers from the sports business community to network and chart the future course of the industry in the city.

Joe Tsai, owner of the Brooklyn Nets basketball team, Yao Ming, president of the Chinese Basketball Association, former NBA star Dwyane Wade and Li Ning, founder and executive chairman of the Li-Ning Group were among the headline speakers.

Joe Tsai, owner of the Brooklyn Nets basketball team, speaks at the Macau summit. Photo: Facebook / @ Galaxy Entertainment Group

Tsai, who is also the chairman of this newspaper’s owner Alibaba Group Holding, said he looks forward to bringing more NBA games to Macau and China to support the sports sector’s growth in the bay area.

“We’re connecting the world through sports, because sport is the common language,” he said. “I would fully support bringing good teams to come to Macau to China, or Hong Kong, and the Greater Bay Area to play here.”

The summit will help “build an invaluable platform for the future of the regional and global sports industry,” said Pun Weng Kun, president of the Sports Bureau of Macau.

“It will also lay a solid foundation in providing opportunities and enhancing the development of Macau’s sports industry and our position as a city of sports.”

The Macau government released its first development plan for economic diversification last year, as it strives to develop the city into a world tourism and leisure hub and build other priority industries like health, finance, technology, conventions, culture and sports.

The government said it would intensify efforts to promote sports and leisure projects in collaboration with gaming operators in Macau. It also plans to stage more high-level international sporting events in the city, including co-hosting the National Games, China’s largest multi-sport competition, next year.

“We firmly believe in the pivotal role of sports in propelling Macau’s social and economic development and fostering international exchanges,” said Philip Cheng Yee Sing, the director of Galaxy Entertainment Group. The company has been using its resources to contribute to major sports events held in Macau, and will continue to support the diversification development strategy, he added.