Macao is the second richest place in the world after Luxembourg, when measured by per capita gross domestic product (GDP), adjusted for purchasing power parity. That’s according to the Indian edition of elite business magazine Forbes.
The designation also means that the SAR is the richest such place in Asia, beating neighbouring SAR Hong Kong, which is in 15th spot.
In third place on the Forbes list is Ireland. Rounding out the top five are fourth-place Singapore and fifth-place Qatar.
[See more: The Internet asked, ‘Why is Macao so rich?’ and we answered]
Explaining their choice, the editors of Forbes said Macao’s wealth “primarily comes from its over 40 casinos, making it one of the world’s top travel destinations.”
They noted that “Despite taking a tremendous hit during the Covid-19 crisis due to travel restrictions and frequent lockdowns, the economy is rapidly recovering thanks to its distinct capitalist approach.”
However, while Macao often ranks near the top of global wealth tables, income inequality is significant. Macau’s Gini coefficient – a standard measure of income inequality – in the year 2023 to 2024 was 0.324 (alternatively expressed as 32.4 percent). That makes it a less equal society than Bangladesh, Iraq, and Myanmar, and on a par with the impoverished Pacific nation of Nauru.
