Macao’s per capita GDP is well above many of its neighbours’, including Hong Kong, Taiwan, Japan and South Korea.
Macao GDP
The ambitious target has been laid out in Macao’s latest five-year plan, but could prove challenging given gaming’s enormous contribution to the economy
It has yet to reach the heights of pre-pandemic 2019, but the local economy is showing robust performance on a number of economic indicators this year.
The rise must be set against last year’s dismal performance and the first quarter GDP figures, which were the first growth Macao had experienced since late 2021.
Macao remains a fair way off its pre-pandemic economy, but the open borders are doing their thing.
A projection from the Macau Economic Association says indicators are slightly below expectations but stable and improving.
The relaxation of pandemic border controls and the resumption of tourism lie behind the strong performance, the Statistics and Census Service says.
Covid-19 travel restrictions hit gaming industry with knock-on effect on city’s overall economy.
Latest figures show visitor numbers dropped 19.6% last month, 30.3% in annual terms, as city feels the pinch from Covid-19 and economic downturn.
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