Page 152 - 2020 Special Report on the State of Business in South China
P. 152
Fig 11 Gaming and tourism industry grew sharply since the end of monopoly in 2002
Fig 12 Gaming and tourism industry grew sharply since the end of monopoly in 2002
MOP b 400 45 '000 rooms
350 40
300 35
250 30
25
200
20
150 15
100 10
50 5
0 2006 2008 2010 2012 2014 2016 0
2004 2018
Gaming gross revenue Hotel room (RHS)
Source: Wind
Source: Wind
Macau is among the world's richest regions, such that the International Monetary Fund
(IMF) projected that the city will overtake Qater to become the place with the world’s highest
per-capita GDP by 2020. Subsequently, its unemployment rate has consistently been
oChf inmaeairsnaopniuemdncduiMam2llay.c0saf%rtuoami(nnCdtEthhaPeeArdg)p”aa. tmsUrtenbfadliivnteemgrytienehndaeurtso,s,btnrrlyeiag.ftlaeitociontinnasgl a tighbteleanborerdmuacrekdebt yw3ith3 wsthroilnegadneomthaenrd33 restrictions
have been relaxed. 26 new opening measures
treatInm2e0n0t2a, nthde mMaocsat-ufagvoovreerndmterenat etmndeendt,thtehemonophoalyvesybseteemn saidndceed1,9a6n2dan3d4 soixpecnasdineogrees were
two oppaerrtaietisngsicgonnecdespsrioonvsisaionndssuobncoinnvceesstsmioennstare graadndteedd taoftSeorctiheedaadmeednedTmuerinstm. Aotethe same time,
promDoivtieornsõaensddefaMcialictaatui,oWn,ypnonliRceysloergtsa,liLtyasanVdegas Staondpsr,oGmaolatexycEonntsetrrtauicntmioenntoGf rtohuep,Gthueangdong-
tranpsapratnreernschyip, oinf vMeGstMmMenirat gweoarnkdinPgangsryoHupos(d, aughHteornogf SKotanngle-My aHcoa)o, aGnrdeathteerpBaartyneArrsehai,p1o1f special
dispuMteelsceottalenmd ePnutb, lfiisnhainngciaalnpdrBudroeandcceaasntidngtrLaidmeited (PoBpLe)n.iIntgsemteoaffsuarreaspwideprehapsreopoofsgerdowinththoef Greater
taxattihoengcaomopinegraatniodnt.ourism industry. In 2018, Macau wBaays Adreesati.nation to 35.8m tourist, up from
11.5m in 2002.
Agreement on Amending the
CEPWAhAilegirtseGemGRehnats far exceeded Las Vegas, MacaSupiseicnitahel pErcocoenssoomf diicveZrsoifyninegsitself as
a tourism destination. The government seeks to re-brand Macau as a regional hub in
CoOmntrmoeuegNrrioicosnevm.ei,smseuxbehedibritth2ioe1n,s“A,2ga0rne1de9ms, methnatell-oManniAdnmimsetenrdydiuinomgf-sizedHeenInntegdrpquriissnetarbuinasdilneMIsnsatcseeagruvricaetsiwointhinotfheZhuhai
the CInEPteArmAsgroef eemcoennotm” i(cthsetru"cAtgurreee, mMaecnatu").haTshebeen rated by the World Trade Organisation
Agree(WmTeOnt)parsoponoeseosfttohefumrtohsetr orepdeuncteraodreaabnodlisinhvestmenTt hreegiHmeens ginqtihne Nweowrld.AIrt eisaa, flroeceaptoerdt i n t h e
lowearndthaen einndterpyebnadrernitetrasrifffozronMea, cwaitoh asecrovripcoerate pZrohfuithtaaxi SrapteecoiaflnEocmonooremtihcaZno1n2e%a,nadndpaart of the
provifdaer-rrseainchvinargioinutserfniealtdiosnsaul cmhaarkseftiinnagnnceet,wlaowrk, and cGlousaentgiedsonwgithFrtheee PTorartdueguZeosnee-,spiseaokninlyga stone’s
and Ccoounnsttrrieusc.tMioanc,aaon’sdrorleelaasx aretrsatdreicatinodnescoonnomic tchor-oowpearawtiaoyn fsreormviceMpalcaatfuo.rmAsbpetawret eonf the “One
serviCcheintaraadnedmPordtueglsuessuec-hspaesakniantguCraolupnetrriessonhas recCeoivuendtrinyc, rTeawsoingSyrestceomgnsit”iopnoolviceyr,thtehe Central
mobyileitayrsa.nd cross-border delivery, and create Government is trying to integrate the economies
convenient conditions for Macao people. of Hong Kong, Macau and Mainland China.
ThroTuhgeh imampleenmdemnteantitosn, tohf ethneuMmabinelranodf asnedrvMicaecau CHloesnegrqEincoisnodmireicctPlyaartcnreorssshtipheAwrraatnegrefmroemntMacau,
secto(rCsEinPAM)aainnldanthdeCPhainna-PtheaatrlhRaivveerfuDlleyltraeaRliezgeidonal Caon-odpaesrastuiocnh FisraampeiwlootrzkoAngerefoermienntet,gtrhaetion. With
natioFnraaml etrweoartkmfoernDt eivnelMopamcaeunt haansd RinecfroermasPedlanningprfoorfePsesaiorlnRailvzeornDeelmtaaRnaeggeiomn,etnhte, as well as the
rfhreaosstmraFFDricecrr6etghaai2vviimmoeeetnveeloome.wwpde6ooma9rrakkes. unnAATrtehggeogrrsefaeeatteebhinvmmuedeseeBsilnnnipastteeytoo,scAnnisafrinCDecpdaoerceeo-twoshpnpieeedllenniftrrcuiiaenoertmgtnihomsaGenihronubaediaenvnentegwhlgadenoecnnegGmiC-ntHhhucoeioeansnnnteagtgc,pidvoKtreonheosnoefnegmtgoHraei-ceMinnnnidtavngiecatMqesaligtaoniorncarCNavsteooi.eos,owntapmoseAferrwatnehteatieollpnoPaofisafnleintcrthihPseeesRapDinpesaoluinthg
152 Recent policies and reforms
Closer Economic Partnership Agreements between Mainland China and Macau
Fig 12 Gaming and tourism industry grew sharply since the end of monopoly in 2002
MOP b 400 45 '000 rooms
350 40
300 35
250 30
25
200
20
150 15
100 10
50 5
0 2006 2008 2010 2012 2014 2016 0
2004 2018
Gaming gross revenue Hotel room (RHS)
Source: Wind
Source: Wind
Macau is among the world's richest regions, such that the International Monetary Fund
(IMF) projected that the city will overtake Qater to become the place with the world’s highest
per-capita GDP by 2020. Subsequently, its unemployment rate has consistently been
oChf inmaeairsnaopniuemdncduiMam2llay.c0saf%rtuoami(nnCdtEthhaPeeArdg)p”aa. tmsUrtenbfadliivnteemgrytienehndaeurtso,s,btnrrlyeiag.ftlaeitociontinnasgl a tighbteleanborerdmuacrekdebt yw3ith3 wsthroilnegadneomthaenrd33 restrictions
have been relaxed. 26 new opening measures
treatInm2e0n0t2a, nthde mMaocsat-ufagvoovreerndmterenat etmndeendt,thtehemonophoalyvesybseteemn saidndceed1,9a6n2dan3d4 soixpecnasdineogrees were
two oppaerrtaietisngsicgonnecdespsrioonvsisaionndssuobncoinnvceesstsmioennstare graadndteedd taoftSeorctiheedaadmeednedTmuerinstm. Aotethe same time,
promDoivtieornsõaensddefaMcialictaatui,oWn,ypnonliRceysloergtsa,liLtyasanVdegas Staondpsr,oGmaolatexycEonntsetrrtauicntmioenntoGf rtohuep,Gthueangdong-
tranpsapratnreernschyip, oinf vMeGstMmMenirat gweoarnkdinPgangsryoHupos(d, aughHteornogf SKotanngle-My aHcoa)o, aGnrdeathteerpBaartyneArrsehai,p1o1f special
dispuMteelsceottalenmd ePnutb, lfiisnhainngciaalnpdrBudroeandcceaasntidngtrLaidmeited (PoBpLe)n.iIntgsemteoaffsuarreaspwideprehapsreopoofsgerdowinththoef Greater
taxattihoengcaomopinegraatniodnt.ourism industry. In 2018, Macau wBaays Adreesati.nation to 35.8m tourist, up from
11.5m in 2002.
Agreement on Amending the
CEPWAhAilegirtseGemGRehnats far exceeded Las Vegas, MacaSupiseicnitahel pErcocoenssoomf diicveZrsoifyninegsitself as
a tourism destination. The government seeks to re-brand Macau as a regional hub in
CoOmntrmoeuegNrrioicosnevm.ei,smseuxbehedibritth2ioe1n,s“A,2ga0rne1de9ms, methnatell-oManniAdnmimsetenrdydiuinomgf-sizedHeenInntegdrpquriissnetarbuinasdilneMIsnsatcseeagruvricaetsiwointhinotfheZhuhai
the CInEPteArmAsgroef eemcoennotm” i(cthsetru"cAtgurreee, mMaecnatu").haTshebeen rated by the World Trade Organisation
Agree(WmTeOnt)parsoponoeseosfttohefumrtohsetr orepdeuncteraodreaabnodlisinhvestmenTt hreegiHmeens ginqtihne Nweowrld.AIrt eisaa, flroeceaptoerdt i n t h e
lowearndthaen einndterpyebnadrernitetrasrifffozronMea, cwaitoh asecrovripcoerate pZrohfuithtaaxi SrapteecoiaflnEocmonooremtihcaZno1n2e%a,nadndpaart of the
provifdaer-rrseainchvinargioinutserfniealtdiosnsaul cmhaarkseftiinnagnnceet,wlaowrk, and cGlousaentgiedsonwgithFrtheee PTorartdueguZeosnee-,spiseaokninlyga stone’s
and Ccoounnsttrrieusc.tMioanc,aaon’sdrorleelaasx aretrsatdreicatinodnescoonnomic tchor-oowpearawtiaoyn fsreormviceMpalcaatfuo.rmAsbpetawret eonf the “One
serviCcheintaraadnedmPordtueglsuessuec-hspaesakniantguCraolupnetrriessonhas recCeoivuendtrinyc, rTeawsoingSyrestceomgnsit”iopnoolviceyr,thtehe Central
mobyileitayrsa.nd cross-border delivery, and create Government is trying to integrate the economies
convenient conditions for Macao people. of Hong Kong, Macau and Mainland China.
ThroTuhgeh imampleenmdemnteantitosn, tohf ethneuMmabinelranodf asnedrvMicaecau CHloesnegrqEincoisnodmireicctPlyaartcnreorssshtipheAwrraatnegrefmroemntMacau,
secto(rCsEinPAM)aainnldanthdeCPhainna-PtheaatrlhRaivveerfuDlleyltraeaRliezgeidonal Caon-odpaesrastuiocnh FisraampeiwlootrzkoAngerefoermienntet,gtrhaetion. With
natioFnraaml etrweoartkmfoernDt eivnelMopamcaeunt haansd RinecfroermasPedlanningprfoorfePsesaiorlnRailvzeornDeelmtaaRnaeggeiomn,etnhte, as well as the
rfhreaosstmraFFDricecrr6etghaai2vviimmoeeetnveeloome.wwpde6ooma9rrakkes. unnAATrtehggeogrrsefaeeatteebhinvmmuedeseeBsilnnnipastteeytoo,scAnnisafrinCDecpdaoerceeo-twoshpnpieeedllenniftrrcuiiaenoertmgtnihomsaGenihronubaediaenvnentegwhlgadenoecnnegGmiC-ntHhhucoeioeansnnnteagtgc,pidvoKtreonheosnoefnegmtgoHraei-ceMinnnnidtavngiecatMqesaligtaoniorncarCNavsteooi.eos,owntapmoseAferrwatnehteatieollpnoPaofisafnleintcrthihPseeesRapDinpesaoluinthg
152 Recent policies and reforms
Closer Economic Partnership Agreements between Mainland China and Macau
