Saturday, December 2, 2023

Search Results

Your Daily Asia Gaming eBrief: Macau economy rebounding on new tourism

China, the one gaming market no one can live without. And the reopening of borders proved exactly that, as Macau's economy is now leaping back, driven entirely by tourism - with hopes optimistic GDP targets will trickle down into Macau's coffers.

MGM China’s Pansy Ho: Macau economy recovered to up to 70% of pre-pandemic levels

MGM China’s Co-Chairperson Pansy Ho says she believes that Macau’s economy has already recovered to between 60 and 70 percent of pre-pandemic levels but notes that the SAR has to bank heavily on non-gaming attractions and bringing in more foreign visitors to achieve its goals.

Macau economy could grow by up to 44% in 2023, analysts

Scholars at the University of Macau (UM) are projecting that Macau's economy could grow by as much as 44 percent in 2023, with GDP to top $31.3 billion, some 67 percent of the level registered in 2019 before the pandemic.

AMCM: Macau economy to grow at double-digit rates in 2023, following gaming concessions

Macau’s economy is ‘expected to rebound at a double-digit rate for the whole year of 2023,’ according to the SAR’s monetary authority (AMCM).

Macau economy to contract, no clear prospects: UM study

The University of Macau Center for Macau Studies and the Department of Economics forecasts that the economy is likely to contract between 26.4 to 29.2 percent for the 2022 fiscal year. Local society "continues to see no clear prospects, effective economic recovery may be a long way off," the study cautions.

Macau economy to grow 19% in 2022, recovery to pick up in 2H: Fitch

Macau’s economy is expected to expand by 19 percent in 2022 as inbound tourism from China picks up in the second half, according to a note from Fitch Ratings.

Macau economy set for a 50% contraction in 2020

The Macau economy is expected to grow by some 35 percent in 2021, following a 50 percent contraction in 2020, ratings agency Fitch Ratings indicated in a report.

Macau economy to shrink by 56.8%

Secretary for Economy and Finance Lei Wai Nong has said Macau's economy is likely to shrink by 56.8 percent this year. That's slightly better than earlier estimates for a decline of 60.9 percent.

Chinese central government official urges Macau to “do more” to diversify its economy 

China has returned to set Macau on the path to shedding its reliance on casinos, as China's top official for Macau affairs arrived at Macau on Monday for a fact-finding visit. 

Macau gov’t expects the gaming sector to drive economy/employment, while maintaining zero-COVID approach

Macau’s government is planning to maintain its zero-COVID policy and be ‘in unanimity’ with the epidemic prevention guidelines of mainland China, while simultaneously expecting that the SAR’s gaming sector delivers revenues which will equate to ‘not less than 40 percent’ of its Gross Domestic Product (GDP).