Macau’s GDP to show strong growth in 2023

The International Monetary Fund says that Macau’s economic situation will only grow in the near future, i.e. after last year’s profit growth, the situation will increase for the better. The reason for this is the private gambling industry’s recovery, which is mainly due to the gradual return of foreign tourists. However, the company did say that it would take time for the city’s economy to recover to its pre-crisis days.

This prediction was in a written statement released after numerous comprehensive consultations between Macao and the IMF not long ago. Representatives said that the city’s GDP will increase by at least 15 percent this year, and the situation will only improve in the coming years.

The statement also said that the city will grow by 23 per cent after just one year, thanks to investments in new content. And after that the figure will increase over time, and this forecast is for the long term. In the near future, the figure will increase by 3.5% per year.

At the moment, Macau is in the process of revising its own legislation regarding the gaming industry, as the restrictions come to an end in the summer. As for the new bill, it has already been officially approved.

In addition, the IMF says that the new reform of the law affecting the gaming industry has removed a lot of concerns of investors, but, of course, there are still some doubts and there is no getting away from them. It should also be noted that the significant increase in casino regulations and customer acquisition activity brings risks for VIPs, so the matter is still under consideration and the outlook is positive.