Financial reserves obtained from tourism placed Macau in a favourable position to see through the Covid-19 pandemic. <\/p>\n\n\n\n\n\n\n\n
Macau.- A paper published by the University of Macau’s Faculty of Business Administration<\/strong> found that Macau was in a unique position<\/strong> to cope with the Covid-19 pandemic due to its financial reserves built up through tourism.<\/strong> <\/p>\n\n\n\n The paper noted that Macau holds fiscal and foreign reserves representing 40 per cent of GDP. <\/strong>With zero public debt in the city, it held US$72.3 billion in 2019.<\/strong><\/p>\n\n\n\n Those reserves proved beneficial when the Covid-19 pandemic hit, helping the government to exert leverage over the casino market and quickly implement lockdown and preventative measures. <\/strong><\/p>\n\n\n\n The researchers wrote: “Macao\u2019s rapid casino growth trajectory and top-down approach to governance has meant there has been limited public consultation although greater public and private collaboration<\/strong> is suggested for a more effective COVID-19 exit strategy.<\/p>\n\n\n\n “Securing annual fiscal surpluses to government coffers through the heightened financial liquidit<\/strong>y performance of the casino sector placed Macau in a unique position to be economically resilient to the COVID-19 outbreak.”<\/p>\n\n\n\n In January<\/a><\/strong><\/em>, Macau’s gaming industry saw its best monthly performance <\/strong>since the Covid-19 pandemic began with a 2.6 per cent increase in gross gaming revenue (GGR) compared to the previous month<\/a><\/em><\/strong>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Financial reserves obtained from tourism placed Macau in a favourable position to see through the Covid-19 pandemic.<\/p>\n","protected":false},"author":2,"featured_media":14245,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"A University of Macau study highlights the region's unique economic resilience during the Covid-19 pandemic, attributing it to substantial financial reserves accumulated from its robust tourism and casino sectors. These reserves, representing 40% of GDP and enabling zero public debt, empowered the government to manage the casino market and implement swift public health measures. The analysis underscores the casino sector's role in generating fiscal surpluses and notes a recent 2.6% GGR increase, signaling post-pandemic recovery.","focusai_entities":"University of Macau\u2019s Faculty of Business Administration","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau's Governance Model","query":"How might Macau's 'top-down approach to governance' and limited public consultation impact future regulatory reforms or market liberalization efforts within the gaming sector?"},{"label":"GGR Recovery Trajectory","query":"Given the recent 2.6% GGR increase, what are the projections for Macau's gaming sector recovery, and what specific policy or market factors are expected to drive sustained growth?"}],"footnotes":""},"categories":[28,16338,163,158],"tags":[23906],"class_list":["post-14242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-finance-news","category-slider-home","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=14242"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14242\/revisions"}],"predecessor-version":[{"id":14250,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14242\/revisions\/14250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/14245"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=14242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=14242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=14242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}