UM forecasts Macau GDP growth of 21% in 2021

Macau tourists

The University of Macau expects Macau’s GDP to grow by between 21.4 and 33.5 percent in 2021, should annual tourist numbers surge back to between 13.8 and 21.7 million. 

Patrick Ho, the Associate Professor of Economics, University of Macau said Macau could see a surge in tourists in the second half of 2021 once more people are vaccinated against covid-19. 

“If both the SAR government and the Mainland government cooperate in terms of their policies, the visitor arrivals will possibly have a considerable increase in a very short time. I think that the visitor arrivals may not reach 10 million in the first half of this year; however, it is possible to achieve this goal during the summer vacation or after. Even if the most optimistic scenario among the four happens, the situation may not be like in 2019 which was before the pandemic. However, comparing with the performance of 2020, I believe the tourist number is considerable and will register a growth of at least 50 per cent.”

(Macau TDM)