{"id":30259,"date":"2022-05-30T05:39:42","date_gmt":"2022-05-30T08:39:42","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=30259"},"modified":"2026-04-23T08:17:45","modified_gmt":"2026-04-23T11:17:45","slug":"macau-gdp-down-8-9-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-gdp-down-8-9-for-q1","title":{"rendered":"Macau GDP down 8.9% for Q1"},"content":{"rendered":"\n

Macau’s gross domestic product (GDP) continued to fall in the first quarter of the year, dropping below 50 per cent of pre-pandemic levels.<\/p>\n\n\n\n\n\n\n\n

Macau.- Authorities in Macau have revealed that gross domestic product fell by 8.9 per cent<\/strong> year-on-year in the first quarter of 2022. Although they didn’t say what GDP was, it was said to be less than 50 per cent of 2019 levels. In 2021,\u00a0Macau\u2019s GDP rose by 18 per cent<\/a>\u00a0year-on-year to MOP239.4bn.<\/p>\n\n\n\n

The drop in Q1 was linked to a fall in the number of overnight arrivals to the city.\u00a0In the first quarter of 2022<\/a>, the number of visiting tourists increased by 8 per cent year-on-year to 1,876,847. But the rise was in same-day visitors (up 46 per cent). Overnight visitors fell 25.9 per cent. The gaming industry’s contribution fell by 25.1 per cent.<\/p>\n\n\n\n

The Covid-19 pandemic continues to cause difficulties in a city<\/strong> which is heavily dependent on tourism and gambling. The increase in Covid-19 cases in China in April led to the\u00a0lowest gross gaming revenue level<\/a>\u00a0since September 2020. The figure was down 71.1 per cent month-on-month from MOP3.67bn (US$454.5m) to MOP2.68bn (US$331m).<\/p>\n\n\n\n

Revenue for the first quarter of the year <\/strong>was MOP17.77bn<\/strong>, down 24.8 per cent year-on-year. Exports of services fell by 4.7 per cent and exports of goods were up 56.8 per cent.<\/p>\n\n\n\n

26.5% of Macau\u2019s underemployed population is related to the gaming sector<\/h2>\n\n\n\n

A survey found workers in Macau\u2019s gaming industry accounted for 26.5 per cent of the city\u2019s underemployed population in the first quarter of the year. The figure, which represents 2,800 people, was down 54.8 per cent when compared to the fourth quarter of the year 2021.<\/p>\n\n\n\n

The main reason for underemployment, according to the survey, was that workers were placed on unpaid leave or partially paid leave by the casino operators. Employment in Macau\u2019s gaming industry fell nearly 5.0 per cent quarter-on-quarter to about 72,700 in the first quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Macau’s gross domestic product (GDP) continued to fall in the first quarter of the year, dropping below 50 per cent of pre-pandemic levels.<\/p>\n","protected":false},"author":176,"featured_media":21509,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's Q1 2022 GDP declined 8.9% year-on-year, falling below 50% of pre-pandemic levels, primarily driven by a 25.9% drop in overnight visitors and a 25.1% reduction in the gaming industry's contribution. Gross Gaming Revenue (GGR) for Q1 was MOP17.77bn, down 24.8% YoY, with April GGR hitting a near two-year low due to ongoing COVID-19 impacts and associated travel restrictions. The gaming sector also saw a nearly 5% QoQ employment reduction and accounted for 26.5% of the city's underemployed population.","focusai_entities":"","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), compliance_legal (0.7), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Recovery Timeline","query":"What are the updated projections for Macau's GGR and visitor volume recovery, considering the ongoing zero-COVID policy in mainland China and its impact on travel?"},{"label":"Concessionaire Financial Health","query":"How are Macau's gaming concessionaires adapting their operational models and capital structures to withstand prolonged periods of reduced GGR and underemployment?"}],"footnotes":""},"categories":[157,16338],"tags":[23906],"class_list":["post-30259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30259","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=30259"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30259\/revisions"}],"predecessor-version":[{"id":30271,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30259\/revisions\/30271"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21509"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}