Macau’s GDP grows 6 pct

Gaming and tourism industries have boosted general Macau’s economy.

Macau.- The Statistics and Census Service of Macau released last Monday a full report on the Chinese city’s economic development showing that gaming and tourism industries have contributed with a general increase in Macau’s numbers. The report states that Macau’s gross domestic product (GDP) grew by 6% year-on-year during the second quarter of the current year.

The official financial report published by the governmental office argues that the general growth in Macau’s economy was due to “steady growth in exports of services and private consumption,” further addressing casino and resorts’ revenues as a growth for the city in general.

According to the Statistics and Census Service of Macau’s report, during the first half of 2018, Macau’s economy grew by 7.6% year-on-year in real terms. However, the general economy during the second quarter was lower than the 9.2% rise in the previous quarter due to “a smaller increase in exports of services and a notable decline in investment,” as the statement published by GGRAsia reveals.

Meanwhile, accumulated visitor arrivals for the months to July 31 increased by 7.4% in comparison to the same period from 2017 and reached 19.85 million. Chinese visitors from the mainland totalled 13.87 million of the visits (up 12.3%).