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Briefing
Macau: Economic Profile
Critical Issues
Background:
Macau’s economic output, dominated by tourism and gambling revenues, was battered by the global financial crisis. The economy contracted 13.6% y/y in H1 2009, with the slump accelerating in Q2 to 15.3% y/y. Being so small and open, Macau tends to have massive swings in output and investment, and Q3 was the start of a rebound, with 8.2% growth. China’s easing of travel restrictions and ample credit are providing a boost, as gambling revenues hit a record highs in H2 2009. Still, given the slack in the economy, Macau will have to grow above trend to close the output gap.
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Associated Readings
Analysis
Citigroup Global Markets
Jun 08, 2009
Macau Gaming, May: Strongest VIP Rollings Since August 2008
News
Global Gaming Business
Jun 2, 2009
Killing The Ills: The Year of the Rat was a tough one, but Macau still forged ahead
Analysis
Economist
Jun 04, 2009
Gambling in Macau: Nightmare averted
Analysis
Colliers
March 2009
Macau Economic and Property Outlook, Q1 2009
Opinions
Wall Street Journal
Jun 12, 2009
Macau's Rotten Borough: The future of Hong Kong?
News
Bloomberg
Nov 11, 2008
Macau Will Take Over Any Bankrupt Casino, Ho Says
Analysis
Citigroup Global Markets
Nov 04 2008
Macau Gaming: Still Negative YoY Growth Despite Golden Week
News
South China Morning Post
Oct 05, 2008
Visa curbs stall Macau's casino boom
Analysis
Forbes
Apr 24, 2008
Macao's 'Aa3' constrained by mix of macroeconomic, political factors - Moody's
Analysis
IMF
Apr 14, 2008
Statement by Dr. Zhou Xiaochuan at the IMFC
Opinions
Bank for International Settlements
Mar 11, 2008
Macao’s financial sector – exhibiting steady development
Analysis
Macau Business
January 2008
Macau: Year in Review
Analysis
Bank of China
Feb 28, 2008
Macao's GDP expected to grow by 13% in 2008
Opinions
International Herald Tribune
Mar 20, 2007
Gambling on Macao
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