The Monetary Authority of Macau (AMCM) said the city’s service exports will be boosted by the lifting of pandemic restrictions.<\/p>\n\n\n\n\n\n\n\n
Macau.- The Monetary Authority of Macau (<\/strong>AMCM) has predicted that the city’s export of services will increase as a result of the easing of pandemic limitations. It says this will support double-digit economic growth for the current year <\/p>\n\n\n\n The AMCM expects foreign demand to rise as Macau after reduced entry restrictions. It noted that while internal and external contexts were still challenging, the local banking sector’s capitalisation and liquidity remained stable and fiscal reserve has allowed the government to implement incentive programmes to revive the economy.<\/p>\n\n\n\n It noted that with the new gaming concessions in force, the concessionaires will progressively roll out their investment projects in non-gaming industries, providing additional momentum for growth. Macau’s six casino operators have collectively promised to invest<\/a>\u00a0as much as\u00a0MOP100bn (US$12.4bn)<\/strong>\u00a0during the ten-year concessions.<\/p>\n\n\n\n However, the AMCM warned: \u201cAs a small open economy, Macau\u2019s economic recovery would hinge on the evolution of the pandemic<\/strong> and development of major export markets.\u201d<\/p>\n\n\n\n The financial institution noted that\u00a0Macau’s GDP fell by 33.4 per cent<\/a>\u00a0year-on-year in the third quarter of 2022 while the contraction of GGR widened to 70.1 per cent. The leading service exports decreased by 46.7 per cent.<\/p>\n\n\n\n More than 318,000 arrived in Macau<\/a>\u00a0between January 21 and 26 for the Chinese New Year holiday period. The average number was 63,600 per day, an increase of 291.9 per cent\u00a0over the same period in 2022<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The Monetary Authority of Macau (AMCM) said the city’s service exports will be boosted by the lifting of pandemic restrictions.<\/p>\n","protected":false},"author":176,"featured_media":32940,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Monetary Authority of Macau (AMCM) projects double-digit economic growth for the city, driven by increased service exports following eased pandemic restrictions. This recovery is significantly bolstered by the new gaming concessions, which mandate MOP100bn (US$12.4bn) in non-gaming investments from the six casino operators over ten years. Despite a substantial GGR contraction in Q3 2022, the AMCM notes stable banking sector liquidity and fiscal reserves, while cautioning that overall recovery remains contingent on global pandemic developments.","focusai_entities":"Monetary Authority of Macau (AMCM), Macau's six casino operators","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Non-Gaming Investment ROI?","query":"What specific non-gaming verticals are the Macau concessionaires prioritizing with their MOP100bn investment, and what are the projected ROI timelines for these diversified assets?"},{"label":"GGR Recovery Trajectory?","query":"Given the Q3 2022 GGR contraction, what is the AMCM's updated forecast for GGR recovery in 2023 and 2024, considering the current visitor influx and non-gaming diversification efforts?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-777001825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001825","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=777001825"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001825\/revisions"}],"predecessor-version":[{"id":777001832,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777001825\/revisions\/777001832"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/32940"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777001825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777001825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777001825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}