Tourism and global output for Macau were boosted by notable growth in the third quarter of 2023 as the region’s economic outlook benefited from a thriving gaming sector.
According to the latest reports, the tourism boost of the gaming sector far eclipsed that of any other industry within the region, as the local statistics bureau, DSEC, emphasised the country enjoyed a year of economic growth in the third quarter of 2023.
Data from the region highlighted that gaming exports increased by 781 per cent, as gross gaming revenue also increased to ¥19.5m in October, a significant spike from ¥14.9 in November.
In spite of global economic headwinds, the number will be welcomed, particularly off the back of a challenging September thatsaw numbers dip.
The rise builds on steady growth for the region as it has recovered at a rapid speed off the back of the pandemic.
It comes following reports from CitiGroup that the stakes of gamblers are growing, as their overall value elevates for the region, specifically at peak tourism times.
The growth of the region’s gaming space has inevitably been felt across its overall economic landscape with GDP for the region rising 116 per cent.
Furthermore, it also highlights yearly growth in numbers for the region as it continues on an upward trajectory of previous years, however, they remain just shy of the numbers before the pandemic.
