Gaming boss Robert Goldstein says speculation should be around how big the market could get, not whether or not it will recover.
Macao’s economy
It has yet to reach the heights of pre-pandemic 2019, but the local economy is showing robust performance on a number of economic indicators this year.
Although mainland China’s economy is faltering, the credit agency backs Macao to perform better than expected in 2023.
Enterprises with bank loans will be able to defer payments of principal amounts for another year, and instead focus on interest repayments.
Macao remains a fair way off its pre-pandemic economy, but the open borders are doing their thing.
Economists at the University of Macau say improvements in the territory’s economy will ‘be more obvious’ this year, but hurdles remain.
The global financial institution expects Macao to come roaring out of the pandemic and sustain double-digit growth into 2024.
Petrol, fruit, eating out, helpers’ wages and electricity all more costly, however pork, telecoms and residential rents cheaper.
Ho Iat Seng points to relaxed Covid-19 measures, new gaming concessions and Macao’s focus on Big Health, modern finance, high tech and other new areas of city’s economy.
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