Macau is celebrating a monumental milestone as it marks 25 years since its return to China, and the numbers are nothing short of astonishing.
Since 1999, the Macau Special Administrative Region (SAR) government has harnessed its unique advantages to propel social and economic development. The result? A staggering leap in GDP from 51.9 billion Macau patacas (MOP) to an impressive 379.5 billion MOP in 2023—approximately $47 billion based on the 2023 average exchange rate.
This economic surge has catapulted Macau into the ranks of the world’s most developed economies. In a remarkable post-pandemic recovery, Macau’s GDP soared by 80.5% in 2023 compared to the previous year. The per capita GDP tells a similar success story, climbing from $15,000 in 1999 to a noteworthy $69,000 in 2023.
The rapid growth reflects Macau’s resilience and its strategic position as a global tourism and entertainment hub. With the economy bouncing back stronger than ever, the future looks bright for this bustling SAR.
As Macau continues to build on its successes, the next 25 years promise even more opportunities for growth and development, solidifying its place on the world stage.
Reference(s):
Macao by numbers: Macao's economy and trade continue to grow
cgtn.com
