May 24, 2024 Newsdesk Latest News, Macau, Top of the deck  
Macau’s gross domestic product (GDP) rose by 25.7 percent year-on-year in real terms in the first three months this year, show government data issued on Friday.
The yearly gain was due to “the revival of the local economy underpinned by thriving exports of services as well as steady private consumption and gross fixed capital formation,” said the Statistics and Census Service.
Exports of gaming services and other tourism services rose by 62.7 percent and 14.8 percent respectively, showed the data.
Gaming services in Macau are included in exports when calculating the city’s GDP. That is in order to reflect spending by tourists in the city’s casinos, where most of customers are either from mainland China or Hong Kong.
In the first quarter, Macau gross gaming revenue (GGR) from games of fortune rose 65.5 percent year-on-year, to just under MOP57.33 billion.
The statistics service noted in its Friday update, referring to a comparison with the trading year immediately before the Covid-19 pandemic: “The local economy has recovered to 87.2 percent of its size in the same quarter of 2019.”
Macau’s first-quarter GDP at current prices however fell 2.7 percent quarter-on-quarter, according to Friday’s data.
The city’s first-quarter GDP at current prices was MOP104.8 billion (US$13.03 billion), compared to MOP107.7 billion in current-prices terms in the fourth quarter last year.
The Statistics and Census Service noted in a Friday press release: “The implicit deflator of GDP, which measures the overall changes in prices, went up by 2.3 percent year-on-year,” to a reading of “106.8”.
For full-year 2023, Macau’s GDP surged by 80.5 percent year-on-year in real terms. On a current-prices basis, the city’s GDP stood at MOP379.5 billion in 2023, compared to MOP197.3 billion in the prior year.
Jun 11, 2024
Jun 03, 2024
Jun 14, 2024
Jun 14, 2024
Jun 14, 2024
Casino ‘smart tables’ are “not really smart till you decide what you’re going do with that data” they are capable of gathering, says Maulin Gandhi (pictured), a founder and president of...(Click here for more)
”It’s what you do with the data from smart tables that makes them ‘smart’”
Graeme Croft
Vice president of table games at MGM China