The outflow of income attributable to some “non-resident enterprises and investors” in Macau was an important factor in making the city’s gross national income (GNI) for 2014 lower than its gross domestic product (GDP) for the period.
The owning entities of Macau’s casino operators come under the heading – for the purposes of calculating GNI – of “non-resident enterprises and investors”.
The city’s GNI in 2014 at current prices was MOP380.23 billion (US$47.6 billion), according to data released on Wednesday.
The sum was lower – by MOP63.07 billion – than Macau’s GDP for 2014, which was MOP443.30 billion measured at current prices.
Total outflow of external factor income “reflects income earned by non-resident enterprises and investors from investment in Macau”, said the release on the 2014 data, issued by the Statistics and Census Service.
In 2014, total outflow of external factor income reached MOP98.13 billion, equivalent to 22.1 percent of GDP. Total outflow of external factor income went up by 11.9 percent year-on-year, mainly due to a 7.7 percent increase in direct investment income (MOP85.11 billion) earned by some non-resident enterprises and investors from investment in Macau.
In 2014, per capita GNI was MOP611,999 and per capita GDP was MOP713,514.
Macau’s Statistics and Census Service defines GNI as the “total income earned by residents of an economy from engaging in various economic activities within or outside the economy in the accounting period”.
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"If the [Macau casino] concessions are put up for bid, there will also be a lot of giant Chinese companies, some having nothing to do with gaming, which would like to take over these enormously successful casinos”
Professor emeritus at Whittier Law School in California, in the United States, and a visiting professor at University of Macau