Macao's Gaming-led Prosperity and Prospects for Economic Diversification

摘要

Macao's economic prosperity until recently had been dramatic thanks to astonishing expansion of the gaming and tourism sector. However, Macao's casino revenue growth came to a halt in the second half of 2008 due to therntwin blow of a deteriorating global economy and Mainland China's imposition of tighter visa restrictions on Chinese visitors to Macao. Grossrngaming revenue contracted 12.7 per cent in the first quarter of 2009rnand GDP consequently dipped 12.9 per cent. Yet the current break in therngambling and tourism-led boom will give the territory a much neededrnbreathing space in which to re-examine its economic growth pattern. Arnpotential driver of growth could be the rise of more diversified tourismrnwith leisure and business conventions likely to be the focal point.