{"id":777011257,"date":"2023-11-20T09:24:26","date_gmt":"2023-11-20T12:24:26","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777011257"},"modified":"2026-04-22T15:27:37","modified_gmt":"2026-04-22T18:27:37","slug":"macau-gdp-up-116-in-q3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-gdp-up-116-in-q3","title":{"rendered":"Macau GDP up 116% in Q3"},"content":{"rendered":"\n<p>Exports of gaming services increased by around 781.4 per cent year-on-year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- The&nbsp;<strong>Macau Statistics and Census Service (DSEC)<\/strong> has reported that gross domestic product (GDP) for the third quarter was up 116.1 per cent year-on-year. The growth was mainly driven by a 781.4 per cent rise in gaming-related exports.<\/p>\n\n\n\n<p>Tourism services rose 255.4 per cent year-on-year. Domestic demand experienced a 15.7 per cent increase, while imports of goods and services recorded upticks of 25.7 per cent and 58.2 per cent, respectively. The DSEC highlighted a 61.5 per cent year-on-year rise in private construction investment. <\/p>\n\n\n\n<p>The city recorded 8.3 million visitor arrivals in the third quarter of 2023. This figure represents 83.5 per cent of the visitor count in the same quarter of 2019.<\/p>\n\n\n\n<p>A week ago,&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-expects-non-gaming-to-make-up-60-of-gdp-by-2028\" rel=\"noreferrer noopener\">the government of Macau<\/a>&nbsp;unveiled an economic diversification plan for 2024 to 2028. According to local media reports,&nbsp;<strong>the plan marks a departure from the traditional five-year blueprint&nbsp;<\/strong>and is designed to reshape the city\u2019s economy.<\/p>\n\n\n\n<p>Macau\u2019s authorities aim to bolster the economy by&nbsp;<strong>expanding non-gaming sectors<\/strong>&nbsp;and thereby diminishing the historical dependence on casinos for employment and tax revenues. The \u201c1+4 model,\u201d focuses on four industries: healthcare, finance, technology and events in the fields of sports, culture and business.&nbsp;<\/p>\n\n\n\n<p>The government expects the non-gaming sector to contribute approximately 60 per cent of gross domestic product (GDP) by 2028. In 2019, the gaming industry represented just over 50 per cent of Macao\u2019s GDP.<\/p>\n\n\n\n<p>Non-reliance on gaming is an issue that was addressed when the city\u2019s casino operators renewed their licences. The six Macau casino operators have collectively pledged&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-casino-operators-to-submit-2023-investment-plans-this-month\" rel=\"noreferrer noopener\">to invest a minimum of MOP108.7bn (US$13.48bn) in non-gaming initiatives<\/a>&nbsp;and explore overseas markets.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Exports of gaming services increased by around 781.4 per cent year-on-year.<\/p>\n","protected":false},"author":176,"featured_media":32939,"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 Q3 GDP surged 116.1% year-on-year, primarily driven by a 781.4% increase in gaming-related exports. Concurrently, the government unveiled a 2024-2028 economic diversification plan, aiming to reduce reliance on the gaming vertical by bolstering non-gaming sectors like healthcare, finance, technology, and events, with casino operators pledging MOP108.7bn in non-gaming investments as part of their licence renewal stipulations.","focusai_entities":"Macau Statistics and Census Service (DSEC), Macau casino operators","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.95), compliance_legal (0.85), operator_casino (0.98), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Diversification ROI Metrics?","query":"What specific KPIs will the Macau government implement to measure the ROI and success of the '1+4 model' beyond GDP contribution, particularly concerning employment and tax revenue shifts from the gaming vertical?"},{"label":"Operator Investment Impact?","query":"How will the MOP108.7bn non-gaming investment commitment by Macau casino operators impact their GGR-to-NGR conversion rates and overall capital expenditure allocation in the short to medium term?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-777011257","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\/777011257","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=777011257"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011257\/revisions"}],"predecessor-version":[{"id":777040938,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011257\/revisions\/777040938"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/32939"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}