Macau economy surges as China gamblers crowd casinos | Reuters

Macau casino revenue fell the most in about three years as China’s sluggish economy continued its chilling effect on high-end customers. Analysts, however, believe the world’s largest gaming Specifically, in the opinion of Ho Iat Seng, the economy after the Covid-19 pandemic will become a major problem for countries around the world in general and Macau in particular. According to statistics, the tax revenue of this region almost comes from casino companies in the gambling industry accounted for 80%. Therefore, the government has been making efforts to focus on ensuring economic Macau’s casino-driven economy is in dire straits. If only it diversified when it had a chance. For the past month, COVID-19 has slowed down countless economies around the world. But for Macau, “Asia’s Las Vegas,” it has also laid bare decades of unsustainable economic policy — and the failure of its leaders to make amends. On March 1, the city’s Gaming Inspection and Coordination Macau casino revenue fell the most in almost three years as China’s sluggish economy continued its chilling effect on high-end customers. Analysts, however, believe the world’s largest gaming Macau is the richest casino hub on the planet, but it isn’t immune to economic market conditions. VIP play crashed in July amid a slowing economy and the ongoing trade war between the China and The economy of Macau has remained one of the most open in the world since its handover to China in 1999. Apparel exports and gambling-related tourism are mainstays of the economy.Since Macau has little arable land and few natural resources, it depends on mainland China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital Macau’s economy contracted by the most in almost four years in the fourth quarter, even before the coronavirus outbreak forced its casinos to shut down for about two weeks. While Macau’s gross domestic product at US$14 billion is less than a 10th the size of that of Hong Kong, the economy has been growing at double-digit rates and should expand by another 16 Macau should start to lift border restrictions in order to boost its tourist-dependent economy. Casino-Heavy Macau Looks to End COVID-Induced Slowdown – The Diplomat All Sections Search

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