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IMF projects Macau’s economy to grow 13.9% in 2024

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The International Monetary Fund (IMF) anticipates a 13.9 percent expansion in Macau’s gross domestic product (GDP) for 2024, propelled by ongoing recovery in the gaming sector and strong private investment.

This projection follows a recent visit by an IMF delegation to Macau, spanning from February 21st to March 6th.

In their financial evaluation released subsequent to the visit, the IMF affirmed that Macau’s GDP is poised for continued robust growth in 2024 and is expected to return to its pre-pandemic levels by 2025.

The IMF also forecasts a 3 percent growth in the medium term. It also highlights that the trajectory of medium-term growth will heavily rely on Macau’s integration with the Greater Bay Area (GBA) and the effectiveness of economic diversification endeavors.

Macau’s gross gaming revenue (GGR) amounted to MOP183.1 billion ($22.68 billion) in 2023, indicating a 333.8 percent surge compared to 2022. While Macau’s GDP grew by 80.5 percent. The year 2023 marked a resurgence for Macau, stepping out of the shroud of the pandemic and the related regulations which effectively shuttered the city for three years.

At the beginning of this year, the investment bank Morgan Stanley predicted that Macau’s GGR for 2024 might increase by 28 percent yearly, reaching 80 percent of the levels observed in 2019.

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