[BITList] Macau

[John Feltham]

From a correspondent...

 

Macau has leapfrogged Switzerland to become the world’s fourth richest territory per person, according to the World Bank, thanks to the influx of mainland Chinese gamblers and tourists.
 
The former Portuguese colony recorded per capita gross domestic product of $91,000 in 2013, behind Luxembourg, Norway and Qatar. The Chinese territory overtook Switzerland – which was worth $80,000 per person – driven by buoyant gaming revenues.
 
Since Macau was returned to China in 1999, its economy has grown 557 per cent as the territory of 607,000 people has been transformed into a gambling mecca.
 
In 2013, Macau posted gaming revenues of $45bn – more than seven times Las Vegas. The bulk of the money comes from mainland Chinese punters visiting Macau, the only place in China where casinos are legal.
 
(FT, July 2, 2014)
 
 

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