JP Morgan survey puts Macau on top

Macau has been listed as the world’s top performing city in economic terms, according to a survey by JP Morgan.

The survey of 300 cities worldwide were highlighted by the dominance of cities in the developing world, especially China in the rankings.

Despite a slowing in gaming revenue, Macau continues to enjoy a tourism boom with more than 31 million visitors coming to more than 30 casinos.

Cities in developed countries impacted by the Great Recession of 2008 have regained a hold, but 65 per cent of European and 57 per cent of North American cities have not yet recovered.

The survey found 27 of the top performing cities were Chinese with strong growth occurring in those less developed cities of China’s interior, more so than the generally booming coastal cities.

The trend reflects moves by Chinese companies to the interior to benefit from lower labour and land costs in contrast to the coastal regions.