Macao’s gross gaming revenue (GGR) fell by 70.9% year-on-year to MOP 6.75 billion (US$843 million) in November.
Business
Macao’s 120 hotels and guesthouses recorded 57,000 staycation guests in October, a year-on-year increase of 13.6%.
Secretary for Economy and Finance Lei Wai Nong has announced that the government has decided to give residents their annual “wealth-sharing” handout in cash next year – as in previous years.
In the government’s latest estimate, Macao’s gross domestic product (GDP) is expected to fall around 56% this year, adding that while the estimate “will be constantly adjusted” the government predicted this year’s economy would contract over 50%.
Secretary for Economy and Finance Lei Wai Nong said during his introductory speech about his portfolio’s policy guidelines for next year on Friday that he expected the government’s Covid-19 prevention and control measures to be “normalised” next year, adding that protecting residents’ lives and health would remain the government’s top priority.
Secretary for Economy and Finance Lei Wai Nong said that the local government has not yet carried out an in-depth study on the possibility of setting up a Macao securities exchange in Hengqin, but it would keep an open mind on the possibility.
Macao’s annual wealth-sharing handout next year will once again be paid out in cash, Secretary for Economy and Finance Lei Wai Nong has told lawmakers.
Macao’s general unemployment rate and local residents’ jobless rate of local residents for August-October remained unchanged at 2.9% and 4.1%.
Macao’s exports and imports in the first 10 months of the year fell by 18.1% and 7.1% to MOP 8.6 billion (US$1.08 billion) and MOP 67.4 billion respectively.