The gaming industry in Macau saw a 355% increase in gross value added (GVA), while the hotel sector registered an 88.1% rise in GVA, highlighting significant growth.
In 2023, the Gaming Industry in Macau made up 38.8% of the region's industrial composition, according to data from the Statistics and Census Service (DSEC), matching government projections.
Compared to 2022, the majority of other businesses saw a growth in gross value added (GVA), but Macau profited most from the tourist sector's recovery.
GVA increased by 355% in the casino industry and 88.1% in the hotel industry.
With a total value of MOP$136.8 billion, Macau's gaming industry made up 38.3% of the city's total gross value added (GVA). Meanwhile, the GVA of the non-gaming sector increased by 20.7% year over year to
MOP$220.73 billion, or 61.7% of the total GVA, a 12.9 percentage point gain over 2019.
Aiming to lower the casino industry's GDP contribution to 40% during the next five years, the Macau government stated this goal in its "Plan for the Adequate and Diversified Development of the Economy
(2024-2028)" released last year.
Though DSEC's statistics indicate that the gaming industry's part of Macau's GVA has decreased, financial data as of October of this year shows that the year's total betting duty revenue was MOP$73 billion, or 81.6% of the government's total revenue of MOP$89.4 billion.
Statistics on industrial structure show how much each industry contributes to the economy as a whole in terms of value added, or value added produced during an economic activity's production process.
This comprises the value of the goods and services generated by the economic activity in question less the value of the goods and services used during production, such as rent, power, and water costs.
Read related article: Macau GDP Grows 4.7% in 2024 Q3, Driven by Gaming Exports
.png)
コメント