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HomeNewsMacauFurther gaming recovery drives Macau’s strong growth: IMF

Further gaming recovery drives Macau’s strong growth: IMF

The International Monetary Fund (IMF) has projected that Macau’s economy will continue to experience strong growth in the near term, citing a forecasted 13.9 percent GDP growth for this year. This growth is driven by further recovery in the gaming sector and a pickup in private investment.

Additionally, the IMF notes that this year’s growth is partly attributable to commitments from gaming concessionaires to invest in non-gaming sectors.

The report also mentions that Macau’s real gross domestic product (GDP) recorded an 80.5 percent increase, ‘recovering much of the decline during the pandemic’.

Last week, a statement from the Macau government revealed that the city’s first-quarter GDP surged by 25.7 percent year-on-year in real terms, buoyed by the robust performance of its gaming service exports.

Further gaming recovery drives Macau’s strong growth: IMF
Source: DSEC

With the expected return of tourists to Macau, the IMF notes that ‘declining medium-term growth in mainland China and an increase in the expected frequency of extreme climate events could weigh on Macau SAR’s medium-term growth, while a faster-than-expected pace of integration with the Greater Bay Area (GBA) and successful diversification policy efforts could boost growth.’


In the executive board assessment, the IMF mentions that downside risks cloud the outlook. ‘Sharper-than-expected contraction in the mainland’s property sector and higher-for-longer interest rates in the major economies could negatively affect Macau’s financial system and growth.’

Meanwhile, on the upside, ‘a stronger-than-expected recovery of the gaming sector and faster-than-envisaged integration with the GBA could boost growth.’

Macau GGR, May 2024
Viviana Chan
Viviana Chan
Viviana Chan is an editor, interpreter, and journalist. With over a decade of experience, she writes in English, Chinese, and Portuguese. Viviana started her career in Macau-based newspapers, where she became passionate about the region's social, financial, and cultural development. Her writing focuses on the economy, emerging industries, gaming development, political affairs, and cross cultural-exchange in the business and cultural domains. She is avid for news and eager to discover and cover stories that generate public relevance.



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