Macao’s economic prosperity index will remain stable between September and November, according to the Macau Economic Association (MEA), which calculates the figure based on 13 indicators, including expected unemployment rate, visitor arrivals and hotel occupancy.
Based on a scale of 10 points, MEA predicted that the index in September would hit 6.4 points before levelling off at 6.5 points in October and November. The current forecast is consistent with the results from the past eight months, which has shown the economic prosperity index averaging roughly 6.4 points.
In its report, the association acknowledged that Macao was still facing uncertainties, such as changing modes of consumption among local residents and visitors, and noted that businesses in some districts were struggling.
[See more: Macao’s first-half GDP exceeds 200 billion patacas for the first time in 5 years]
Nonetheless, it signalled that there were many positives to look forward to in the fourth quarter, including the upcoming three-month citywide consumption campaign, which is expected to lift business volumes up by as much as 30 percent.
Moreover, the week-long National Day holidays in October and other celebrations, including the 25th anniversary of the SAR’s establishment in December, are expected to help improve the environment for local businesses.
Macao’s economy has been rebounding since the lifting of Covid-19 travel restrictions in early 2023, growing almost 16 percent in the first six months of this year against the same period in 2023. It has yet to fully recover to the levels registered in 2019, however.
