Gaming made up 36.2% of Macau GDP in 2023

Macau wants to ensure gaming does not exceed 40 per cent of the gross added value.

Macau.- Chief executive Ho Iat Seng has reported that the gaming industry made up 36.2 per cent of Macau’s gross domestic product (GDP) in 2023, meeting the government’s economic diversification goals. Ho discussed the statistics during a press conference summarising a seven-day visit by a Beijing official.

Looking ahead to 2024, Ho indicated that the gross added value of the gaming industry is projected to rise. However, the government’s objective is to ensure that it does not surpass 40 per cent as per the economic diversification blueprint for 2024-2028.

In 2023, Macau’s GDP rose 80.5 per cent year-on-year in real terms. That represents a recovery to over 80 per cent of 2019 levels. Per-capita GDP for 2023 reached MOP559,495 (US$69,393). In February, Lei Wai Nong, Macau’s secretary for economy and finance, forecast a growth in GDP of 10.3 per cent this year. The International Monetary Fund forecasts a 13.9 per cent GDP growth rate for Macau.

Gaming revenue peaked at 63 per cent of Macau’s economic output between 2011 and 2013. By 2019, the share had declined to 51 per cent, with GGR at MOP292bn.