Macau has every chance to become the richest city in the world

14 August 2018

The Chinese region of Macau continues to develop thanks to the gambling industry and by 2020 it can become the world's richest city, ahead of Qatar.

This information was provided by Bloomberg, based on the International Monetary Fund.

According to the IMF, Macao's gross of domestic product (GDP) has almost tripled since 2001, when it was $34,500. By 2020, the region's economy is expected to reach $143,116 per capita, surpassing Qatar with its $139,151 indicator.

The IMF predicts that the gap between the GDP of Macau and Qatar will continue to increase, and the calculation of per capita in Chinese territory by 2023 will reach $172 681.

The financial institution explained that the Macau economy will continue to grow thanks to the support of the casino industry, whose gross gaming profits in 2017 exceeded the $33 billion mark, which is 19.2% higher compared to the previous year.

Previously, analysts at Morgan Stanley Asia Ltd predicted a further rise in the Macau gambling market, which has not yet reached the peak of its development.

Suggested Reading - Evolution Gaming teams up with Hard Rock Atlantic City

Latest News