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Macao’s prosperity index is expected to remain high over the next three months

Economists say that the SAR will reap significant economic rewards from mainland China’s recent visa relaxation measures.

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UPDATED: 16 May 2024, 3:07 pm

Macao’s economic prosperity index between May and July is forecast to remain relatively high, according to a report published yesterday by the Macau Economic Association (MEA). 

The index is made up of 13 indicators including visitor numbers and hotel occupancy, and ranges to a maximum of 10 points. 

For the next three months, the MEA expects the index to remain at 6.6 points and said that the central government’s recent measures to facilitate travel by mainland visitors to Macao will provide the local economy with greater momentum. 

[See more: The IMF says Macao’s GDP growth will fall to 9.6 percent in 2025]

The organisation singled out the recent addition of eight mainland Chinese cities to the individual travel scheme as being particularly beneficial to Macao’s economy, as all the Chinese provincial capitals are now included on the list, which will help to further boost domestic tourism numbers.

Looking back at the past year, MEA noted that SAR’s GDP growth and other economic indicators had performed well. For comparison, Macao’s economic prosperity this March stood at a stable 6.4 points, which was much better than the “below-average” figure of 4.5 points during the same month last in 2023.

As an indication of Macao’s economic resurgence, the association also added that the magazine Global Finance had ranked Macao second place in the world’s richest places, just behind Luxembourg. 

UPDATED: 16 May 2024, 3:07 pm

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