Macau wants to ensure gaming does not exceed 40 per cent of the gross added value.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Chief executive Ho Iat Seng<\/strong> has reported that the gaming industry made up 36.2 per cent of Macau’s gross domestic product (GDP)<\/strong> in 2023, meeting the\u00a0government’s\u00a0economic diversification goals. Ho discussed the statistics during a press conference\u00a0summarising a seven-day visit by a Beijing official.<\/p>\n\n\n\n Looking ahead to 2024, Ho indicated that the gross added value of the gaming industry\u00a0is projected\u00a0to rise.\u00a0However, the\u00a0government’s\u00a0objective is to ensure\u00a0that\u00a0it does not surpass 40 per cent as per the economic diversification blueprint\u00a0for\u00a02024-2028.<\/p>\n\n\n\n In 2023,\u00a0Macau\u2019s\u00a0GDP rose 80.5 per cent\u00a0year-on-year in real terms<\/a>. That represents a recovery to over 80\u00a0per cent\u00a0of 2019\u00a0levels. Per-capita GDP for 2023 reached MOP559,495 (US$69,393). In February,\u00a0Lei Wai Nong<\/strong>,\u00a0Macau\u2019s\u00a0secretary for economy and finance, forecast\u00a0a growth in GDP of 10.3 per cent this year<\/a>. The\u00a0International Monetary Fund forecasts\u00a0a 13.9 per cent GDP growth rate for Macau<\/a>.<\/p>\n\n\n\n Gaming revenue peaked at 63 per cent of\u00a0Macau’s\u00a0economic output between 2011 and 2013. By 2019, the share had declined to 51 per cent, with GGR at MOP292bn.<\/p>\n","protected":false},"excerpt":{"rendered":" Macau wants to ensure gaming does not exceed 40 per cent of the gross added value.<\/p>\n","protected":false},"author":176,"featured_media":0,"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 Chief Executive Ho Iat Seng reported that the gaming industry contributed 36.2% to the region's GDP in 2023, aligning with economic diversification goals. The government aims to cap gaming's gross added value at 40% of GDP by 2028, despite projections for its rise in 2024, signaling a continued strategic shift away from over-reliance on the gaming vertical.","focusai_entities":"Ho Iat Seng, Lei Wai Nong, International Monetary Fund","focusai_location":"Macau, Beijing","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), operator_casino (0.95), investor_analyst (0.97), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Diversification Impact","query":"What specific non-gaming verticals are Macau's concessionaires prioritizing to align with the government's 40% GDP contribution cap for the gaming industry?"},{"label":"Policy Enforcement","query":"How does the Macau government intend to enforce the 40% gross added value cap for the gaming industry, and what are the potential implications for future concession renewals or operational licenses?"}],"footnotes":""},"categories":[157,16338],"tags":[23906],"class_list":["post-777015631","post","type-post","status-publish","format-standard","hentry","category-business-news","category-east-asia-news","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015631","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=777015631"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015631\/revisions"}],"predecessor-version":[{"id":777015669,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015631\/revisions\/777015669"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}