Macau Gdp Increases Due To The Development Of The Gambling Industry
The city statistics service and population census provided evidence that the gross domestic product (gdp) macau increased by 4.7% in 2018.
According to the statistical bureau, macau gdp amounted to $ 54.46 billion in 2018. The growth of this indicator is fixed for the second year in a row. It comes from the revenue from the gambling industry of the special administrative area.
The statistical office reported that the economic prosperity of macau in 2018 contributed to an increase in exports and private consumption. Gambling-services of one of the world capitals of gambling when calculating gdp were included in the section «export». This is necessary to display the total spending of tourists in the city’s gambling establishments. In 2018, an increase in gambling exports by 10.3% was recorded annual.
The dynamics of macao gdp indicators in recent years as a whole coincided with the trends of the casino gross income (ggr), which emphasizes the importance of the gambling sector for the local economy.
After three years of decline in ggr indicators in 2017, an increase in this aspect was recorded for the first time, and in 2018 – one more, by 14%.
It is significant that for the first time since 2013, macau gdp increased by 9.1% in 2017. The data provided by the bureau also witnessed an increase in gdp in the fourth quarter of 2018 by 2.One%.
The international monetary fund (imf) predicts that the growth of the economy of a special administrative district in the current year will be 5.3%. The main driving force of the development of macao economy international monetary fund considers the gambling industry.
Recall that, according to official data, 3.43 million tourists visited macau in january. The indicator exceeded last year’s 24.Nine%.