{"id":777014730,"date":"2024-04-15T09:05:13","date_gmt":"2024-04-15T12:05:13","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777014730"},"modified":"2026-04-22T11:10:56","modified_gmt":"2026-04-22T14:10:56","slug":"macau-gdp-forecast-to-grow-16-8-this-year","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-gdp-forecast-to-grow-16-8-this-year","title":{"rendered":"Macau GDP forecast to grow 16.8% this year"},"content":{"rendered":"\n<p>The University of Macau said growth will mainly be driven by a rebound in mainland Chinese tourists.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- The <strong>University of Macau <\/strong>has forecast a 16.8 per cent rise in Macau\u2019s gross domestic product (GDP) for the current year. This outlook exceeds previous predictions, including those by\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/imf-expects-macau-gdp-to-rise-13-9-in-2024\" target=\"_blank\" rel=\"noreferrer noopener\">the International Monetary Fund (IMF)<\/a>\u00a0and the Macau Economic Association.<\/p>\n\n\n\n<p>According to Macao News, UM&#8217;s Centre for Macau Studies and Department of Economics initially estimated growth rates ranging from 8.3 per cent to 21 per cent, contingent upon the performance of the mainland Chinese tourist market. The university now anticipates that the number of mainland tourists will rebound to 90 per cent of 2019 levels this year. Analysts said the economic slowdown in mainland China is expected to have a minimal impact on Macau&#8217;s growth.<\/p>\n\n\n\n<p>The UM forecasts that services exports will increase by 23.4 per cent and personal consumption expenditure by 4 per cent. Consumer prices are forecast to see an increase of 1.5 per cent and median monthly earnings 2.1 per cent.<\/p>\n\n\n\n<p>The university predicts an overall unemployment rate of 2.2 per cent for 2024, with the unemployment rate among Macao residents slightly higher at 2.8 per cent.\u00a0<\/p>\n\n\n\n<p>In 2023,\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-gdp-up-80-5-in-2023\" target=\"_blank\" rel=\"noreferrer noopener\">Macau\u2019s GDP rose 80.5 per cent year-on-year<\/a>\u00a0in real terms to over 80 per cent of 2019 levels, before the Covid-19 pandemic. Per-capita GDP for 2023 reached MOP559,495 (US$69,393).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The University of Macau said growth will mainly be driven by a rebound in mainland Chinese tourists.<\/p>\n","protected":false},"author":176,"featured_media":777014793,"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 University of Macau forecasts a 16.8% rise in Macau's GDP for the current year, primarily driven by an anticipated rebound in mainland Chinese tourists to 90% of 2019 levels. This optimistic outlook surpasses previous predictions from entities like the IMF, with minimal expected impact from mainland China's economic slowdown.","focusai_entities":"University of Macau, International Monetary Fund, Macau Economic Association, UM\u2019s Centre for Macau Studies, Department of Economics","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), marketing_crm (0.75), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR vs. GDP Forecasts?","query":"How does this Macau GDP growth forecast align with or diverge from the GGR projections issued by major concessionaires operating in the region?"},{"label":"Tourism Recovery Drivers?","query":"Beyond the general rebound, what specific policy or market factors are expected to drive mainland Chinese tourist numbers to 90% of 2019 levels, and what are the sensitivities to this projection?"}],"footnotes":""},"categories":[16338,163],"tags":[23906],"class_list":["post-777014730","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\/777014730","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=777014730"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014730\/revisions"}],"predecessor-version":[{"id":777014749,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014730\/revisions\/777014749"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777014793"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777014730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}