The CIA World Factbook Every edition, 1990 to 2025 Southeast Asia
Economic overview Macau, in 36 editions.
The entry for Macau published Economic overview in 36 editions of 36, from 1990 to 2025. The text changed in 29 editions. Each is shown as published. Economic overview in every entry.
- editions changed the text
- 29
- the first edition with it
- 1990
- the latest edition with it
- 2025
Published as “Overview” (1990 to 1995), “Economic overview” (1996 to 2025), “Economy - overview” (1997 to 2019), “Economy-overview” (1998) and “Economy--overview” (1999).
field in that editiontext changed from the edition beforenot in that editionthe edition shownChoose an edition on the strip beside the text, or step through them with the arrows. Mark changes compares it with the edition before: the marks are ours, words added and words removed.
2025 edition
Same as 2024The same text in 1990 and 1991.
Published as “Overview”
The economy is based largely on tourism (including gambling), and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries--toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about two-thirds of export earnings. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods.
The economy is based largely on tourism (including gambling), and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries--toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about two-thirds of export earnings. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods.
Published as “Overview”
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries - toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about two-thirds of export earnings; the gambling industry represented 36% of GDP in 1991. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods.
The economy is based largely on tourism (including gambling), gambling) and textile and
fireworks manufacturing. Efforts to diversify have spawned other small industries--toys,
industries - toys, artificial flowers, and electronics. The tourist sector
has accounted for roughly 25% of GDP, and the clothing industry has provided
about two-thirds of export earnings. earnings; the gambling industry represented 36%
of GDP in 1991. Macau depends on China for most of its food, fresh water,
and energy imports. Japan and Hong Kong are the main suppliers of raw
materials and capital goods.
Published as “Overview”
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries - toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about two-thirds of export earnings; the gambling industry represented well over 40% of GDP in 1992. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods.
The economy is based largely on tourism (including gambling) and textile and
fireworks manufacturing. Efforts to diversify have spawned other small
industries - toys, artificial flowers, and electronics. The tourist sector
has accounted for roughly 25% of GDP, and the clothing industry has provided
about two-thirds of export earnings; the gambling industry represented 36% well
over 40% of GDP in 1991. 1992. Macau depends on China for most of its food, fresh water,
water, and energy imports. Japan and Hong Kong are the main suppliers of raw
materials and capital goods.
Published as “Overview”
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries - toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about two-thirds of export earnings; the gambling industry represented well over 40% of GDP in 1992. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods.
The economy is based largely on tourism (including gambling) and
textile and
other small
The tourist sector
clothing industry has provided
the gambling industry represented well
depends on China for most of its food, fresh
imports. Japan and Hong Kong are the main suppliers of raw
and capital goods.
Published as “Overview”
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries - toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about two-thirds of export earnings; the gambling industry represented well over 40% of GDP in 1992. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods.
The economy is based largely on tourism (including gambling) and
and textile and fireworks manufacturing. Efforts to diversify have spawned
spawned other small industries - toys, artificial flowers, and electronics.
electronics. The tourist sector has accounted for roughly 25% of GDP,
and theearnings;
earnings; the gambling industry represented well over 40% of GDP in
1992. Macauenergy
energy imports. Japan and Hong Kong are the main suppliers of raw materials
materials and capital goods.
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries - toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about two-thirds of export earnings; the gambling industry probably represents over 40% of GDP. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods.
The economy is based largely on tourism
(including gambling)
Efforts to diversify have
artificial flowers, and
accounted for roughly 25% of GDP,
provided about two-thirds of exportrepresented well
probably represents over 40% of GDP in GDP. Macau depends on China for most
1992.
of its food, fresh water, and
are the main suppliers of raw
Published as “Economy - overview”
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries - toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about two-thirds of export earnings; the gambling industry probably represents over 40% of GDP. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods.
The economy is based largely on tourism
gambling) and textile and fireworks manufacturing.
diversify have spawned other small industries - toys,
flowers, and electronics. The tourist sector has
25% of GDP, and the clothing industry has
export earnings; the gambling industry
GDP. Macau depends on China for most
energy imports. Japan and Hong Kong
materials and capital goods.
Published as “Economy-overview”
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries-toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about two-thirds of export earnings; the gambling industry probably represents over 40% of GDP. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods.
The economy is based largely on tourism (including
gambling) and textile and fireworks manufacturing. Efforts to
diversify have spawned other small industries - toys, industries-toys, artificial
flowers, and electronics. The tourist sector has accounted for roughly
25% of GDP, and the clothing industry has provided about two-thirds of
export earnings; the gambling industry probably represents over 40% of
GDP. Macau depends on China for most of its food, fresh water, and
energy imports. Japan and Hong Kong are the main suppliers of raw
materials and capital goods.
Published as “Economy--overview”
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries--toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about two-thirds of export earnings; the gambling industry probably represents over 40% of GDP. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods. Macau is scheduled to revert to Chinese administration on 20 December 1999.
The economy is based largely on tourism (including
(including gambling) and textile and fireworks manufacturing.
Efforts toindustries-toys, artificial industries--toys,
artificial flowers, and electronics. The tourist sector has
accounted for roughly
provided about two-thirds of
probably represents over 40% of
of its food, fresh water, and
are the main suppliers of raw
scheduled to revert to Chinese administration on 20 December 1999.
Published as “Economy - overview”
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries - toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about three-fourths of export earnings; the gambling industry probably represents over 40% of GDP. Macau depends on China for most of its food, fresh water, and energy imports.
Japan and Hong Kong are the main suppliers of raw materials and capital goods. Output dropped 4% in 1998 and the economy remained weak in 1999. Macau reverted to Chinese administration on 20 December 1999. Gang violence, a dark spot in the economy, probably will be reduced in 2000 to the advantage of the tourism sector.
The economy is based largely on tourismindustries--toys,industries - toys, artificial flowers, and electronics. The tourist sector hastwo-thirds three-fourths of export earnings; the gambling industryis reverted to Chinese administration on 20 December 1999. Gang violence, a dark spot in the economy, probably will be reduced in 2000 to the advantage of the tourism sector.
scheduled to revert
Published as “Economy - overview”
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries - toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about three-fourths of export earnings; the gambling industry probably represents over 40% of GDP. More than 8 million tourists visited Macau in 2000.
Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods. Output dropped 5% in 1998 and 3% in 1999, with a small 2% gain in 2000. Macau reverted to Chinese administration on 20 December 1999. Gang violence, a dark spot in the economy, probably will be reduced in 2000-01 to the advantage of the tourism sector.
The economy is based largely on tourism (including gambling) and textile and fireworks manufacturing. Efforts to diversify have spawned other small industries - toys, artificial flowers, and electronics. The tourist sector has accounted for roughly 25% of GDP, and the clothing industry has provided about three-fourths of export earnings; the gambling industry probably represents over 40% of GDP. More than 8 million tourists visited Macau in 2000. Macau depends on China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods. Output dropped 4% 5% in 1998 and the economy remained weak 3% in 1999. 1999, with a small 2% gain in 2000. Macau reverted to Chinese administration on 20 December 1999. Gang violence, a dark spot in the economy, probably will be reduced in 2000 2000-01 to the advantage of the tourism sector.
Published as “Economy - overview”
Macau's economy two years after reversion to China remains one of the most open in the world, according to the World Trade Organization. The government collects no duty on imports and sets no restrictions on exports beyond those required by international agreements. The territory's net exports of goods and services account for 35% of GDP, with tourism and apparel exports as the mainstays. The territory therefore has been hit hard by the 2001 downturn in its key US and EU export markets.
Tourism remained strong, however, driven by a surge in visitors from mainland China. In response to the expected contraction of the economy in 2002, the government has announced a stimulative income tax cut and public works program that will push the budget into deficit. China already has extended support by easing restrictions on travel to Macau and is proposing a China-Hong Kong-Macau free trade area. China's economic weight is increasingly felt, with the mainland now holding more than 50% of assets in the financial, real estate, and construction sectors.
Mainlanders, however, have been excluded from bidding on the gambling industry licenses that Macau is offering to break up the territory's four-decade-old gambling monopoly. Gambling taxes account for up to 60% of revenue, and the government with Beijing's backing intends to revitalize the industry.
Rewritten: too little of the 2001 text remains to mark the changes.
Macau's economy two years after reversion to China remains one of the most open in the world, according to the World Trade Organization. The government collects no duty on imports and sets no restrictions on exports beyond those required by international agreements. The territory's net exports of goods and services account for 35% of GDP, with tourism and apparel exports as the mainstays. The territory therefore has been hit hard by the 2001 downturn in its key US and EU export markets. Tourism remained strong, however, driven by a surge in visitors from mainland China. In response to the expected contraction of the economy in 2002, the government has announced a stimulative income tax cut and public works program that will push the budget into deficit. China already has extended support by easing restrictions on travel to Macau and is proposing a China-Hong Kong-Macau free trade area. China's economic weight is increasingly felt, with the mainland now holding more than 50% of assets in the financial, real estate, and construction sectors. Mainlanders, however, have been excluded from bidding on the gambling industry licenses that Macau is offering to break up the territory's four-decade-old gambling monopoly. Gambling taxes account for up to 60% of revenue, and the government with Beijing's backing intends to revitalize the industry.
Published as “Economy - overview”
Macau's economy four years after reversion to China remains one of the most open in the world. The territory's net exports of goods and services account for 39% of GDP with tourism and apparel exports as the mainstays. Although the territory was hit hard by the 1998 Asian financial crisis and the global downturn in 2001, its economy grew an estimated 9.5% in 2002. A rapid rise in the number of mainland visitors because of China's easing of restrictions on travel drove the recovery.
The budget also returned to surplus in 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 63% of government revenue. The liberalization of Macao's gambling monopoly may contribute to GDP growth, as the three companies awarded gambling licenses have pledged to invest $2.2 billion - roughly 33% of GDP - in the territory. Much of Macau's textile industry may move to the mainland as the Multi-Fiber Agreement is phased out.
The territory may have to rely more on gambling and trade-related services to generate growth. Growth fell to 4% in 2003, according to early government forecasts, with the drop in large measure due to concerns over the Severe Acute Respiratory Syndrome (SARS).
Rewritten: too little of the 2002 text remains to mark the changes.
Macau's economy four years after reversion to China remains one of the most open in the world. The territory's net exports of goods and services account for 39% of GDP with tourism and apparel exports as the mainstays. Although the territory was hit hard by the 1998 Asian financial crisis and the global downturn in 2001, its economy grew an estimated 9.5% in 2002. A rapid rise in the number of mainland visitors because of China's easing of restrictions on travel drove the recovery. The budget also returned to surplus in 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 63% of government revenue. The liberalization of Macao's gambling monopoly may contribute to GDP growth, as the three companies awarded gambling licenses have pledged to invest $2.2 billion - roughly 33% of GDP - in the territory. Much of Macau's textile industry may move to the mainland as the Multi-Fiber Agreement is phased out. The territory may have to rely more on gambling and trade-related services to generate growth. Growth fell to 4% in 2003, according to early government forecasts, with the drop in large measure due to concerns over the Severe Acute Respiratory Syndrome (SARS).
Published as “Economy - overview”
Macau's well-to-do economy has remained one of the most open in the world since its reversion to China in 1999. The territory's net exports of goods and services account for roughly 41% of GDP with tourism and apparel exports as the mainstays. Although the territory was hit hard by the 1998 Asian financial crisis and the global downturn in 2001, its economy grew 9.5% in 2002. A rapid rise in the number of mainland visitors because of China's easing of restrictions on travel drove the recovery.
The budget also returned to surplus in 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 70% of government revenue. The liberalization of Macao's gambling monopoly contributes to GDP growth, as the three companies awarded gambling licenses have pledged to invest $2.2 billion in the territory. Much of Macau's textile industry may move to the mainland as the Multi-Fiber Agreement is phased out.
The territory may have to rely more on gambling and trade-related services to generate growth. The government estimated GDP growth at 4% in 2003 with the drop in large measure due to concerns over the Severe Acute Respiratory Syndrome (SARS), but private sector analysts think the figure may have been higher because of the continuing boom in tourism.
Macau's well-to-do economy four years after reversion to China remains has remained one of the most open in the world. world since its reversion to China in 1999. The territory's net exports of goods and services account for 39% roughly 41% of GDP with tourism and apparel exports as the mainstays. Although the territory was hit hard by the 1998 Asian financial crisis and the global downturn in 2001, its economy grew an estimated 9.5% in 2002. A rapid rise in the number of mainland visitors because of China's easing of restrictions on travel drove the recovery. The budget also returned to surplus in 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 63% 70% of government revenue. The liberalization of Macao's gambling monopoly may contribute contributes to GDP growth, as the three companies awarded gambling licenses have pledged to invest $2.2 billion - roughly 33% of GDP - in the territory. Much of Macau's textile industry may move to the mainland as the Multi-Fiber Agreement is phased out. The territory may have to rely more on gambling and trade-related services to generate growth. Growth fell to The government estimated GDP growth at 4% in 2003, according to early government forecasts, 2003 with the drop in large measure due to concerns over the Severe Acute Respiratory Syndrome (SARS). (SARS), but private sector analysts think the figure may have been higher because of the continuing boom in tourism.
Published as “Economy - overview”
Macau's well-to-do economy has remained one of the most open in the world since its reversion to China in 1999. Apparel exports and tourism are mainstays of the economy. Although the territory was hit hard by the 1998 Asian financial crisis and the global downturn in 2001, its economy grew 9.5% in 2002 and 15.6% in 2003. During the first three quarters of 2004, Macau registered year-on-year GDP increases of more than 20 percent.
A rapid rise in the number of mainland visitors because of China's easing of restrictions on travel, increased public works expenditures, and significant investment inflows associated with the liberalization of Macau's gaming industry drove the recovery. The budget also returned to surplus in 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 70% of government revenue.
The three companies awarded gambling licenses have pledged to invest $2.2 billion in the territory, which will boost GDP growth. Much of Macau's textile industry may move to the mainland as the Multi-Fiber Agreement is phased out. The territory may have to rely more on gambling and trade-related services to generate growth. Two new casinos were opened by new foreign gambling licensees in 2004; development of new infrastructure and facilities in preparation for Macau's hosting of the 2005 East Asian Games will bolster the construction sector.
The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland, and the range of products covered by CEPA was to be expanded on 1 January 2005.
Macau's well-to-do economy has remained one of the most open in the world since its reversion to China in 1999. The territory's net Apparel exports of goods and services account for roughly 41% of GDP with tourism and apparel exports as are mainstays of the mainstays. economy. Although the territory was hit hard by the 1998 Asian financial crisis and the global downturn in 2001, its economy grew 9.5% in 2002. 2002 and 15.6% in 2003. During the first three quarters of 2004, Macau registered year-on-year GDP increases of more than 20 percent. A rapid rise in the number of mainland visitors because of China's easing of restrictions on travel travel, increased public works expenditures, and significant investment inflows associated with the liberalization of Macau's gaming industry drove the recovery. The budget also returned to surplus in 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 70% of government revenue. The liberalization of Macao's gambling monopoly contributes to GDP growth, as the three companies awarded gambling licenses have pledged to invest $2.2 billion in the territory. territory, which will boost GDP growth. Much of Macau's textile industry may move to the mainland as the Multi-Fiber Agreement is phased out. The territory may have to rely more on gambling and trade-related services to generate growth. The government estimated GDP growth at 4% Two new casinos were opened by new foreign gambling licensees in 2003 with the drop 2004; development of new infrastructure and facilities in large measure due preparation for Macau's hosting of the 2005 East Asian Games will bolster the construction sector. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to concerns over the Severe Acute Respiratory Syndrome (SARS), but private sector analysts think mainland, and the figure may have been higher because range of the continuing boom in tourism. products covered by CEPA was to be expanded on 1 January 2005.
Published as “Economy - overview”
Macau's well-to-do economy has remained one of the most open in the world since its reversion to China in 1999. Apparel exports and tourism are mainstays of the economy. Although the territory was hit hard by the 1997-98 Asian financial crisis and the global downturn in 2001, its economy grew 10.1% in 2002, 14.2% in 2003, and 28.6% in 2004. During the first three quarters of 2005, Macau registered year-on-year GDP increases of 6.2%. A rapid rise in the number of mainland visitors because of China's easing of travel restrictions, increased public works expenditures, and significant investment inflows associated with the liberalization of Macau's gaming industry drove the four-year recovery.
The budget also returned to surplus since 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 70% of government revenue. The three companies awarded gambling licenses have pledged to invest $2.2 billion in the territory, which will boost GDP growth. Much of Macau's textile industry may move to the mainland as the Multi-Fiber Agreement is phased out. The territory may have to rely more on gambling and trade-related services to generate growth.
Two new casinos were opened by new foreign gambling licensees in 2004; development of new infrastructure and facilities in preparation for Macau's hosting of the 2005 East Asian Games led the construction sector. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland, and the range of products covered by CEPA was expanded on 1 January 2005.
Macau's well-to-do economy has remained one of the most open in the world since its reversion to China in 1999. Apparel exports and tourism are mainstays of the economy. Although the territory was hit hard by the 1998 1997-98 Asian financial crisis and the global downturn in 2001, its economy grew 9.5% 10.1% in 2002 2002, 14.2% in 2003, and 15.6% 28.6% in 2003. 2004. During the first three quarters of 2004, 2005, Macau registered year-on-year GDP increases of more than 20 percent. 6.2%. A rapid rise in the number of mainland visitors because of China's easing of restrictions on travel, travel restrictions, increased public works expenditures, and significant investment inflows associated with the liberalization of Macau's gaming industry drove the four-year recovery. The budget also returned to surplus in since 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 70% of government revenue. The three companies awarded gambling licenses have pledged to invest $2.2 billion in the territory, which will boost GDP growth. Much of Macau's textile industry may move to the mainland as the Multi-Fiber Agreement is phased out. The territory may have to rely more on gambling and trade-related services to generate growth. Two new casinos were opened by new foreign gambling licensees in 2004; development of new infrastructure and facilities in preparation for Macau's hosting of the 2005 East Asian Games will bolster led the construction sector. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland, and the range of products covered by CEPA was to be expanded on 1 January 2005.
Published as “Economy - overview”
Macau's well-to-do economy has remained one of the most open in the world since its reversion to China in 1999. Apparel exports and tourism are mainstays of the economy. Although the territory was hit hard by the 1997-98 Asian financial crisis and the global downturn in 2001, its economy grew 10.1% in 2002, 14.2% in 2003, and 28.6% in 2004 before slowing to 6.7% in 2005. The economic boom was powered by gambling, tourism, and the construction necessary to support such endeavors.
China's decision to ease travel restrictions led to a rapid rise in the number of mainland visitors. The opening of Macau's gaming industry to foreign access in 2001 spurred an increase in public works expenditures. The budget also returned to surplus in 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 70% of government revenue. Much of Macau's textile industry may move to the mainland due to the termination in 2005 of the Multi-Fiber Agreement, which provided a near guarantee of export markets, leaving the territory more dependent on gambling and trade-related services to generate growth.
The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland. The range of products covered by CEPA was expanded on 1 January 2005.
Macau's well-to-do economy has remained one of the most open in the world since its reversion to China in 1999. Apparel exports and tourism are mainstays of the economy. Although the territory was hit hard by the 1997-98 Asian financial crisis and the global downturn in 2001, its economy grew 10.1% in 2002, 14.2% in 2003, and 28.6% in 2004. During 2004 before slowing to 6.7% in 2005. The economic boom was powered by gambling, tourism, and the first three quarters of 2005, Macau registered year-on-year GDP increases of 6.2%. A construction necessary to support such endeavors. China's decision to ease travel restrictions led to a rapid rise in the number of mainland visitors because of China's easing of travel restrictions, increased public works expenditures, and significant investment inflows associated with the liberalization visitors. The opening of Macau's gaming industry drove the four-year recovery. to foreign access in 2001 spurred an increase in public works expenditures. The budget also returned to surplus since in 2002 because of the surge in visitors from China and a hike in taxes on gambling profits, which generated about 70% of government revenue. The three companies awarded gambling licenses have pledged to invest $2.2 billion in the territory, which will boost GDP growth. Much of Macau's textile industry may move to the mainland as due to the termination in 2005 of the Multi-Fiber Agreement is phased out. The Agreement, which provided a near guarantee of export markets, leaving the territory may have to rely more dependent on gambling and trade-related services to generate growth. Two new casinos were opened by new foreign gambling licensees in 2004; development of new infrastructure and facilities in preparation for Macau's hosting of the 2005 East Asian Games led the construction sector. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland, and the mainland. The range of products covered by CEPA was expanded on 1 January 2005.
Published as “Economy - overview”
Macau's economy has enjoyed strong growth in recent years on the back of its expanding tourism and gaming sectors. Since opening up its locally-controlled casino industry to foreign competition in 2001, the territory has attracted tens of billions of dollars in foreign investment that have helped transform it into the world's largest gaming center. In 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for 75% of total government revenue.
The expanding casino sector, and China's decision beginning in 2002 to relax travel restrictions, have reenergized Macau's tourism industry, which saw total visitors grow to 27 million in 2007, up 62% in three years. Macau's strong economic growth has put pressure its labor market prompting businesses to look abroad to meet their staffing needs. The resulting influx of non-resident workers, who totaled one-fifth of the workforce in 2006, has fueled tensions among some segments of the population.
Macau's traditional manufacturing industry has been in a slow decline. In 2006, exports of textiles and garments generated only $1.8 billion compared to $6.9 billion in gross gaming receipts. Macau's textile industry will continue to move to the mainland because of the termination in 2005 of the Multi-Fiber Agreement, which provided a near guarantee of export markets, leaving the territory more dependent on gambling and trade-related services to generate growth.
However, the Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland. Macau's currency, the Pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Rewritten: too little of the 2007 text remains to mark the changes.
Macau's economy has enjoyed strong growth in recent years on the back of its expanding tourism and gaming sectors. Since opening up its locally-controlled casino industry to foreign competition in 2001, the territory has attracted tens of billions of dollars in foreign investment that have helped transform it into the world's largest gaming center. In 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for 75% of total government revenue. The expanding casino sector, and China's decision beginning in 2002 to relax travel restrictions, have reenergized Macau's tourism industry, which saw total visitors grow to 27 million in 2007, up 62% in three years. Macau's strong economic growth has put pressure its labor market prompting businesses to look abroad to meet their staffing needs. The resulting influx of non-resident workers, who totaled one-fifth of the workforce in 2006, has fueled tensions among some segments of the population. Macau's traditional manufacturing industry has been in a slow decline. In 2006, exports of textiles and garments generated only $1.8 billion compared to $6.9 billion in gross gaming receipts. Macau's textile industry will continue to move to the mainland because of the termination in 2005 of the Multi-Fiber Agreement, which provided a near guarantee of export markets, leaving the territory more dependent on gambling and trade-related services to generate growth. However, the Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland. Macau's currency, the Pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Published as “Economy - overview”
Macau's economy has enjoyed strong growth in recent years on the back of its expanding tourism and gaming sectors. After opening up its locally-controlled casino industry to foreign competition in 2001, the territory attracted tens of billions of dollars in foreign investment, transforming Macao into the world's largest gaming center. By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for 75% of total government revenue.
In 2008, government revenue from gaming was set to double 2006 collections. The expanding casino sector, and China's decision beginning in 2002 to relax travel restrictions, reenergized Macau's tourism industry. This city of just over 500,000 hosted more than 30 million visitors in 2008. Almost 60% came from mainland China despite increasing restrictions on travel to the SAR. Macau's traditional manufacturing industry has been in a slow decline since the termination of the Multi-Fiber Agreement in 2005.
In 2008, exports of textiles and garments generated only $1.1 billion, compared to $13.7 billion in gross gaming receipts. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland. Macau's currency, the Pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Macau's economy has enjoyed strong growth in recent years on the back of its expanding tourism and gaming sectors. Since After opening up its locally-controlled casino industry to foreign competition in 2001, the territory has attracted tens of billions of dollars in foreign investment that have helped transform it investment, transforming Macao into the world's largest gaming center. In By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for 75% of total government revenue. In 2008, government revenue from gaming was set to double 2006 collections. The expanding casino sector, and China's decision beginning in 2002 to relax travel restrictions, have reenergized Macau's tourism industry, which saw total visitors grow to 27 industry. This city of just over 500,000 hosted more than 30 million in 2007, up 62% visitors in three years. Macau's strong economic growth has put pressure its labor market prompting businesses to look abroad 2008. Almost 60% came from mainland China despite increasing restrictions on travel to meet their staffing needs. The resulting influx of non-resident workers, who totaled one-fifth of the workforce in 2006, has fueled tensions among some segments of the population. SAR. Macau's traditional manufacturing industry has been in a slow decline. decline since the termination of the Multi-Fiber Agreement in 2005. In 2006, 2008, exports of textiles and garments generated only $1.8 billion $1.1 billion, compared to $6.9 $13.7 billion in gross gaming receipts. Macau's textile industry will continue to move to the mainland because of the termination in 2005 of the Multi-Fiber Agreement, which provided a near guarantee of export markets, leaving the territory more dependent on gambling and trade-related services to generate growth. However, the The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland. Macau's currency, the Pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Published as “Economy - overview”
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010, largely on the back of strong tourism and gaming sectors. After opening up its locally-controlled casino industry to foreign competition in 2001, the territory attracted tens of billions of dollars in foreign investment, transforming Macau into one of the world's largest gaming center. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau.
By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for more than 70% of total government revenue. In 2008, Macau introduced measures to cool the rapidly developing sector. This city of nearly 570,000 hosted more than 21 million visitors in 2009. Almost 51% came from mainland China. Macau's traditional manufacturing industry has virtually disappeared since the termination of the Multi-Fiber Agreement in 2005.
In 2009, total exports were less than US$1 billion, while gaming receipts were almost US$15 billion. By October 2010, gross gaming revenue had already reached US$19 billion for the year. The Macau government plans to tighten control over the opening of new casinos and strengthen supervision of local casino operations in 2011 and has introduced measures to diversify the economy. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers Macau-made products tariff-free access to the mainland; nevertheless, China remains Macau's third largest goods export market, behind Hong Kong and the United States. Macau's currency, the Pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Macau's economy has enjoyed slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in recent years 2010, largely on the back of its expanding strong tourism and gaming sectors. After opening up its locally-controlled casino industry to foreign competition in 2001, the territory attracted tens of billions of dollars in foreign investment, transforming Macao Macau into one of the world's largest gaming center. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for 75% more than 70% of total government revenue. In 2008, government revenue from gaming was set to double 2006 collections. The expanding casino sector, and China's decision beginning in 2002 Macau introduced measures to relax travel restrictions, reenergized Macau's tourism industry. cool the rapidly developing sector. This city of just over 500,000 nearly 570,000 hosted more than 30 21 million visitors in 2008. 2009. Almost 60% 51% came from mainland China despite increasing restrictions on travel to the SAR. China. Macau's traditional manufacturing industry has been in a slow decline virtually disappeared since the termination of the Multi-Fiber Agreement in 2005. In 2008, 2009, total exports of textiles and garments generated only $1.1 were less than US$1 billion, compared to $13.7 billion in while gaming receipts were almost US$15 billion. By October 2010, gross gaming receipts. revenue had already reached US$19 billion for the year. The Macau government plans to tighten control over the opening of new casinos and strengthen supervision of local casino operations in 2011 and has introduced measures to diversify the economy. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland. mainland; nevertheless, China remains Macau's third largest goods export market, behind Hong Kong and the United States. Macau's currency, the Pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Published as “Economy - overview”
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010, largely on the back of strong tourism and gaming sectors. After opening up its locally-controlled casino industry to foreign competition in 2001, the territory attracted tens of billions of dollars in foreign investment, transforming Macau into one of the world's largest gaming center. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau.
By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for more than 70% of total government revenue. In 2008, Macau introduced measures to cool the rapidly developing sector. This city of nearly 552,300 hosted nearly 25 million visitors in 2010. Almost 53% came from mainland China. Macau's traditional manufacturing industry has virtually disappeared since the termination of the Multi-Fiber Agreement in 2005.
In 2010, total exports were less than US$900 million, while gaming receipts were almost US$24 billion, a 58% increase over 2009. The Macau government plans to tighten control over the opening of new casinos and strengthen supervision of local casino operations in 2011 and has introduced measures to diversify the economy. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers Macau-made products tariff-free access to the mainland; nevertheless, China is Macau's second largest goods export market, behind Hong Kong, and followed by the United States. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010, largely on the back of strong tourism and gaming sectors. After opening up its locally-controlled casino industry to foreign competition in 2001, the territory attracted tens of billions of dollars in foreign investment, transforming Macau into one of the world's largest gaming center. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for more than 70% of total government revenue. In 2008, Macau introduced measures to cool the rapidly developing sector. This city of nearly 570,000 552,300 hosted more than 21 nearly 25 million visitors in 2009. 2010. Almost 51% 53% came from mainland China. Macau's traditional manufacturing industry has virtually disappeared since the termination of the Multi-Fiber Agreement in 2005. In 2009, 2010, total exports were less than US$1 billion, US$900 million, while gaming receipts were almost US$15 billion. By October 2010, gross gaming revenue had already reached US$19 billion for the year. US$24 billion, a 58% increase over 2009. The Macau government plans to tighten control over the opening of new casinos and strengthen supervision of local casino operations in 2011 and has introduced measures to diversify the economy. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 January 2004 offers Macau-made products tariff-free access to the mainland; nevertheless, China remains is Macau's third second largest goods export market, behind Hong Kong Kong, and followed by the United States. Macau's currency, the Pataca, pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Published as “Economy - overview”
After opening up its locally-controlled casino industry to foreign competition in 2001, the territory attracted tens of billions of dollars in foreign investment, transforming Macau into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for more than 70% of total government revenue.
In 2008, Macau introduced measures to cool the rapidly developing sector. Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-11, largely on the back of tourism from mainland China and the gaming sectors. This city of 550,000 hosted nearly 25 million visitors in 2010. Almost 53% came from mainland China. Macau's traditional manufacturing industry slowed greatly since the termination of the Multi-Fiber Agreement in 2005.
The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect in January 2004 offers Macau-made products tariff-free access to the mainland; nevertheless, China is Macau's second largest goods export market, behind Hong Kong, and followed by the United States. However, exports in 2010 were less than US$900 million, while gaming receipts were almost US$24 billion, a 58% increase over 2009.
Macau's economy expanded at a slower pace in 2012 - around 10% - reflecting continued global economic uncertainties. Macau continues to face the challenges of managing its growing casino industry, money-laundering, and the need to diversifying the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010, largely on the back of strong tourism and gaming sectors. After opening up its locally-controlled casino industry to foreign competition in 2001, the territory attracted tens of billions of dollars in foreign investment, transforming Macau into one of the world's largest gaming center. centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. By 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for more than 70% of total government revenue. In 2008, Macau introduced measures to cool the rapidly developing sector. Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-11, largely on the back of tourism from mainland China and the gaming sectors. This city of nearly 552,300 550,000 hosted nearly 25 million visitors in 2010. Almost 53% came from mainland China. Macau's traditional manufacturing industry has virtually disappeared slowed greatly since the termination of the Multi-Fiber Agreement in 2005. In 2010, total exports were less than US$900 million, while gaming receipts were almost US$24 billion, a 58% increase over 2009. The Macau government plans to tighten control over the opening of new casinos and strengthen supervision of local casino operations in 2011 and has introduced measures to diversify the economy. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect on 1 in January 2004 offers Macau-made products tariff-free access to the mainland; nevertheless, China is Macau's second largest goods export market, behind Hong Kong, and followed by the United States. However, exports in 2010 were less than US$900 million, while gaming receipts were almost US$24 billion, a 58% increase over 2009. Macau's economy expanded at a slower pace in 2012 - around 10% - reflecting continued global economic uncertainties. Macau continues to face the challenges of managing its growing casino industry, money-laundering, and the need to diversifying the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Published as “Economy - overview”
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China''s decision to relax travel restrictions on Chinese citizens wishing to visit Macau. By 2006, Macau''s gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for more than 70% of total government revenue.
Macau''s economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-11, largely on the back of tourism from mainland China and the gaming sectors. In 2012, this city of 582,000 hosted nearly 28 million visitors. Almost 60% came from mainland China. Macau''s traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005.
China is Macau''s second largest goods export market, behind Hong Kong, and followed by the United States. In 2012, exports were less than US$1 billion, while gaming receipts were US$38 billion, a 13.5% increase over 2011. Macau''s economy expanded by 10% in 2012; although impressive, it was a slower growth rate than in previous years. Macau continues to face the challenges of managing its growing casino industry, money-laundering, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau''s currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
After Since opening up its locally-controlled casino industry to foreign competition in 2001, the territory Macau has attracted tens of billions of dollars in foreign investment, transforming Macau the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's China''s decision to relax travel restrictions on Chinese citizens wishing to visit Macau. By 2006, Macau's Macau''s gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for more than 70% of total government revenue. In 2008, Macau introduced measures to cool the rapidly developing sector. Macau's Macau''s economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-11, largely on the back of tourism from mainland China and the gaming sectors. This In 2012, this city of 550,000 582,000 hosted nearly 25 28 million visitors in 2010. visitors. Almost 53% 60% came from mainland China. Macau's Macau''s traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. The Closer Economic Partnership Agreement (CEPA) between Macau and mainland China that came into effect in January 2004 offers Macau-made products tariff-free access to the mainland; nevertheless, China is Macau's Macau''s second largest goods export market, behind Hong Kong, and followed by the United States. However, In 2012, exports in 2010 were less than US$900 million, US$1 billion, while gaming receipts were almost US$24 US$38 billion, a 58% 13.5% increase over 2009. Macau's 2011. Macau''s economy expanded at by 10% in 2012; although impressive, it was a slower pace growth rate than in 2012 - around 10% - reflecting continued global economic uncertainties. previous years. Macau continues to face the challenges of managing its growing casino industry, money-laundering, and the need to diversifying diversify the economy away from heavy dependence on gaming revenues. Macau's Macau''s currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Published as “Economy - overview”
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China''s decision to relax travel restrictions on Chinese citizens wishing to visit Macau. - In 2013, Macau's gaming-related taxes accounted for more than 85% of total government revenue.
Macau''s economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-13, largely on the back of tourism from mainland China and the gaming sectors. In 2013, this city of 607,500 hosted nearly 29.3 million visitors. Almost 64% came from mainland China. Macau''s traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005.
China is Macau''s second largest goods export market, behind Hong Kong, and followed by the United States. In 2013, exports were US$1.1 billion, while gaming receipts were US$45.2 billion, an 18.6% increase over 2012. Macau''s economy expanded by 11.9% in 2013; although impressive, it was a slower growth rate than in previous years. Macau continues to face the challenges of managing its growing casino industry, money-laundering, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau''s currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China''s decision to relax travel restrictions on Chinese citizens wishing to visit Macau. By 2006, Macau''s gaming revenue surpassed that of the Las Vegas strip, and - In 2013, Macau's gaming-related taxes accounted for more than 70% 85% of total government revenue. Macau''s economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-11, 2010-13, largely on the back of tourism from mainland China and the gaming sectors. In 2012, 2013, this city of 582,000 607,500 hosted nearly 28 29.3 million visitors. Almost 60% 64% came from mainland China. Macau''s traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. China is Macau''s second largest goods export market, behind Hong Kong, and followed by the United States. In 2012, 2013, exports were less than US$1 US$1.1 billion, while gaming receipts were US$38 US$45.2 billion, a 13.5% an 18.6% increase over 2011. 2012. Macau''s economy expanded by 10% 11.9% in 2012; 2013; although impressive, it was a slower growth rate than in previous years. Macau continues to face the challenges of managing its growing casino industry, money-laundering, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau''s currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Published as “Economy - overview”
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2014, Macau's gaming-related taxes accounted for more than 83% of total government revenue.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-13, largely on the back of tourism from mainland China and the gaming sectors. In 2014, this city of 636,200 hosted nearly 31.5 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005.
Services export—primarily gaming—increasingly has driven Macau’s economic performance. Mainland China’s ongoing anti-corruption campaign has brought Macau’s gambling boom to a halt, with spending in casinos contracting 2.6% in 2014. As a result, Macau's inflation-adjusted GDP contracted 0.4% from 2013, down from double-digit expansion rates in 2010-13. Non-inflation adjusted exports of goods and services dropped 0.4% from 2013, reflecting the slowdown in gaming exports.
Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China''s China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. - In 2013, 2014, Macau's gaming-related taxes accounted for more than 85% 83% of total government revenue. Macau''s Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-13, largely on the back of tourism from mainland China and the gaming sectors. In 2013, 2014, this city of 607,500 636,200 hosted nearly 29.3 31.5 million visitors. Almost 64% 67% came from mainland China. Macau''s Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. China is Macau''s second largest Services export—primarily gaming—increasingly has driven Macau’s economic performance. Mainland China’s ongoing anti-corruption campaign has brought Macau’s gambling boom to a halt, with spending in casinos contracting 2.6% in 2014. As a result, Macau's inflation-adjusted GDP contracted 0.4% from 2013, down from double-digit expansion rates in 2010-13. Non-inflation adjusted exports of goods export market, behind Hong Kong, and followed by the United States. In services dropped 0.4% from 2013, exports were US$1.1 billion, while gaming receipts were US$45.2 billion, an 18.6% increase over 2012. Macau''s economy expanded by 11.9% in 2013; although impressive, it was a slower growth rate than reflecting the slowdown in previous years. gaming exports. Macau continues to face the challenges of managing its growing casino industry, money-laundering, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau''s Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Published as “Economy - overview”
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2015, Macau's gaming-related taxes accounted for more than 76% of total government revenue.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-13, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005.
Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s ongoing anti-corruption campaign has brought Macau’s gambling boom to a halt, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 20.3% from 2014, down from double-digit expansion rates in 2010-13. Non-inflation adjusted exports of goods and services dropped 1.8% from 2014, reflecting the slowdown in gaming exports.
Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2014, 2015, Macau's gaming-related taxes accounted for more than 83% 76% of total government revenue.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-13, largely on the back of tourism from mainland China and the gaming sectors. In 2014, 2015, this city of 636,200 646,800 hosted nearly 31.5 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. Services export—primarily gaming—increasingly export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s ongoing anti-corruption campaign has brought Macau’s gambling boom to a halt, with spending in casinos contracting 2.6% 34.3% in 2014. 2015. As a result, Macau's inflation-adjusted GDP contracted 0.4% 20.3% from 2013, 2014, down from double-digit expansion rates in 2010-13. Non-inflation adjusted exports of goods and services dropped 0.4% 1.8% from 2013, 2014, reflecting the slowdown in gaming exports.
Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Published as “Economy - overview”
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in the 2010-13 period, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005.
Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s ongoing anti-corruption campaign has brought Macau’s gambling boom to a halt, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 20.3% in 2015, down from double-digit expansion rates in the period 2010-13, and another 4.7% in 2016.
Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2015, 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in 2010-13, the 2010-13 period, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s ongoing anti-corruption campaign has brought Macau’s gambling boom to a halt, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 20.3% from 2014, in 2015, down from double-digit expansion rates in 2010-13. Non-inflation adjusted exports of goods and services dropped 1.8% from 2014, reflecting the slowdown period 2010-13, and another 4.7% in gaming exports. 2016.
Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
The same text in 2018 and 2019.
Published as “Economy - overview”
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in the 2010-13 period, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005.
Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s anti-corruption campaign brought Macau’s gambling boom to a halt in 2014, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 21.5% in 2015 and another 2.1% in 2016 - down from double-digit expansion rates in the period 2010-13 - but the economy recovered handsomely in 2017.
Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue.ongoing anti-corruption campaign has brought Macau’s gambling boom to a halt, halt in 2014, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 20.3% 21.5% in 2015, 2015 and another 2.1% in 2016 - down from double-digit expansion rates in the period 2010-13, and another 4.7% 2010-13 - but the economy recovered handsomely in 2016.2017. Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in the 2010-13 period, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005.
Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s anti-corruption campaign brought Macau’s gambling boom to a halt in 2014, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 21.5% in 2015 and another 2.1% in 2016 - down from double-digit expansion rates in the period 2010-13 - but the economy recovered handsomely in 2017.
Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue. Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in the 2010-13 period, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s anti-corruption campaign brought Macau’s gambling boom to a halt in 2014, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 21.5% in 2015 and another 2.1% in 2016 - down from double-digit expansion rates in the period 2010-13 - but the economy recovered handsomely in 2017. Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
The same text in 2021 and 2022.
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in the 2010-13 period, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005.
Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s anti-corruption campaign brought Macau’s gambling boom to a halt in 2014, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 21.5% in 2015 and another 2.1% in 2016 - down from double-digit expansion rates in the period 2010-13 - but the economy recovered handsomely in 2017.
Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
Since opening up its locally-controlled casino industry to foreign competition in 2001, Macau has attracted tens of billions of dollars in foreign investment, transforming the territory into one of the world's largest gaming centers. Macau's gaming and tourism businesses were fueled by China's decision to relax travel restrictions on Chinese citizens wishing to visit Macau. In 2016, Macau's gaming-related taxes accounted for more than 76% of total government revenue.
Macau's economy slowed dramatically in 2009 as a result of the global economic slowdown, but strong growth resumed in the 2010-13 period, largely on the back of tourism from mainland China and the gaming sectors. In 2015, this city of 646,800 hosted nearly 30.7 million visitors. Almost 67% came from mainland China. Macau's traditional manufacturing industry has slowed greatly since the termination of the Multi-Fiber Agreement in 2005. Services export — primarily gaming — increasingly has driven Macau’s economic performance. Mainland China’s anti-corruption campaign brought Macau’s gambling boom to a halt in 2014, with spending in casinos contracting 34.3% in 2015. As a result, Macau's inflation-adjusted GDP contracted 21.5% in 2015 and another 2.1% in 2016 - down from double-digit expansion rates in the period 2010-13 - but the economy recovered handsomely in 2017.
Macau continues to face the challenges of managing its growing casino industry, risks from money-laundering activities, and the need to diversify the economy away from heavy dependence on gaming revenues. Macau's currency, the pataca, is closely tied to the Hong Kong dollar, which is also freely accepted in the territory.
The same text in 3 editions, 2023 to 2025.
- high-income, Chinese special administrative region economy;
- known for apparel exports and gambling tourism;
- currency pegged to Hong Kong dollar;
- significant recession due to 2015 Chinese anticorruption campaign;
- COVID-19 further halved economic activity
Rewritten: too little of the 2022 text remains to mark the changes.
high-income, Chinese special administrative region economy; known for apparel exports and gambling tourism; currency pegged to Hong Kong dollar; significant recession due to 2015 Chinese anticorruption campaign; COVID-19 further halved economic activity
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Cite this page
Central Intelligence Agency. “Macau: Economic overview.” The World Factbook, 1990–2025 editions. Archived by The Factbook, thefactbook.org/macau/economic-overview.