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Gaming sector accounted for 36.2% of Macau's economy in 2023
Gaming's weight in Macau's gross domestic product (GDP) was 36.2 percent in 2023, the Chief Executive said today, who expects to keep the sector's contribution "within 40 percent" in favor of economic diversification.
© Lusa
Economia Economia
"I can tell you today that the weight of gaming in the GDP is 36.2%. We predict that this weight will increase this year, but the GDP itself has also increased, and therefore, we hope to contain the weight of gaming in the GDP within 40%," said the territory's Chief Executive during a press conference.
The authorities want to diversify the economy of the casino capital, which is heavily dependent on gaming, which represented more than half of Macau's GDP in 2019 and employed almost 68 thousand people at the end of 2022, or almost 20% of the employed population.
The new gaming concession contract for the next ten years came into effect on January 1, 2023, and requires the six operators in the territory to significantly increase their investment in non-gaming elements and attracting foreign visitors.
"If we go back to that percentage that we had in the past, if it reaches 63%, then we are going back to the situation where gaming is predominant," said the Chief Executive today, who stressed the territory's intention to "follow the diversified path of the economy".
Ho Iat Seng was speaking to journalists during a review of the visit to the region by the director of the Hong Kong and Macau Affairs Office of the Chinese State Council, Xia Baolong.
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