Diversification will strengthen Macau’s economy
Thursday, September 12, 2019
Subject
The political and economic outlook for Macau.
Significance
Macau’s economy was damaged by a drop in gaming revenues caused by President Xi Jinping’s anti-corruption campaign that scared away VIP gamblers and junkets. The decline has now levelled out. Macau has received large investment from mainland China to diversify the economy and boost non-gaming revenues.
Impacts
- Macau will face greater competition for Chinese gamblers from other regional centres.
- Use of Macau as a gateway for getting money out of China will become much harder.
- Tourism and entertainment will contribute a growing amount to GDP growth.