Gaming sector helps Macau GDP expand 11.5 %

The rate of GDP growth was higher than the 10.3 % rise recorded in the first quarter. The increase took Macau’s GDP in the three months to June 30 to nearly US$11.78 billion.

Such growth was attributable "to the increases in exports of services and private consumption,” said the statistics bureau.

Exports of gaming services grew by 19.0 % year-on-year in the second quarter of 2017. Gaming services in Macau are included in exports when calculating the city’s GDP, in order to reflect expenditure by tourists in the city’s casinos.

It had been reported on July 1 by the city’s casino regulator, the Gaming Inspection and Coordination Bureau, that total casino gross gaming revenue (GGR) for the second quarter of 2017 had expanded by 21.9 % year-on-year.

Ratings agency Moody’s Investors Service in May upgraded Macau’s outlook based on the recovery of the city’s gaming industry. The ratings agency said that Macau continues to extend "its long track record of fiscal surpluses”, adding that it expected the Macau government to "continue to run budget surpluses and accumulate fiscal reserves in coming years”.

Source: GMB / GGR Asia