Macau’s secretary for economy and finance spoke at a seminar organised by the Macao Chamber of Commerce.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Lei Wai Nong, Macau’s secretary for economy and finance, has forecast growth in the gross domestic product (GDP) of 10.3 per cent this year. Speaking at a seminar organised by the Macao Chamber of Commerce, Secretary Lei highlighted the positive momentum seen so far, including an increase in tourism.<\/p>\n\n\n\n
Visitor numbers in January more than doubled those of last year<\/a>, totalling just above 2.86 million.\u00a0The Chinese New Year festivities attracted almost\u00a01.36 million visitors to the city\u00a0from February 10 to 17.<\/p>\n\n\n\n Lei underscored the robustness of Macau’s hospitality sector, citing a hotel occupancy rate of 95.2 per cent during the recent holiday period<\/a>. He also reflected on the performance of the economy in 2023. Official GDP data is due to be released shortly, but statistics from the city’s Statistics and Census Service indicate a 77.7 per cent rise in real GDP for the nine months up to September 30.<\/p>\n\n\n\n Macau\u2019s GDP has a high correlation with the gross gaming revenue (GGR). For 2023,\u00a0Macau\u2019s GGR<\/a>\u00a0was MOP183.06bn (US$22.75bn). That\u2019s a rise of 333.8 per cent\u00a0when compared to 2022.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Macau’s secretary for economy and finance spoke at a seminar organised by the Macao Chamber of Commerce.<\/p>\n","protected":false},"author":176,"featured_media":17023,"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 Secretary for Economy and Finance, Lei Wai Nong, forecasts a 10.3% GDP growth for the current year, driven by robust tourism and a significant increase in Gross Gaming Revenue (GGR). The city recorded a 333.8% rise in GGR to MOP183.06bn (US$22.75bn) in 2023, alongside strong visitor numbers and high hotel occupancy rates during recent holiday periods.","focusai_entities":"Lei Wai Nong, Macao Chamber of Commerce, Statistics and Census Service","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Sustain Growth Strategy?","query":"What specific policy initiatives are planned to sustain the observed tourism and GGR growth beyond the immediate post-pandemic recovery phase?"},{"label":"Concessionaire M&A Impact?","query":"How might the forecasted GDP growth and GGR performance influence capital expenditure and M&A strategies among Macau's concessionaires in the next 12-24 months?"}],"footnotes":""},"categories":[157,16338],"tags":[23906],"class_list":["post-777013488","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\/777013488","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=777013488"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013488\/revisions"}],"predecessor-version":[{"id":777013512,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013488\/revisions\/777013512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17023"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777013488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}