Macau’s gross domestic product (GDP) in the first half of 2024 was MOP204.3 billion (US$25.5 billion), representing real year-on-year growth of 15.7%.
This means the overall economic size has recovered to 86.2% of the same period in 2019, exceeding MOP$200 billion for the first time post-pandemic.
According to Macau’s Statistics and Census Service (DSEC), the increase in visitor arrivals and tourism activities benefited the continuous growth in overall service exports in the first half of the year. Exports of gaming services increased by 39.9%, while exports of other tourism services also increased by 2.8%, up by over 20% compared to the same period in 2019.
Macau residents’ incomes have also increased in the first half of the year, driving a growth in private consumption. Private consumption expenditure increased by 7.8% year-on-year, of which household final consumption expenditure in the local market increased by 7.0%. External expenditure increased by 13.5%.
In the second quarter of this year, the year-on-year real growth rate of GDP was 6.9%, with the overall economic size equivalent to 85.2% of the same period in 2019. Total service exports grew 6.1% year-on-year, of which gaming service exports increased by 22.6%, although exports of other tourism services declined by 9.5%.
RelatedPosts
